Midday update for the EURUSD 21-11-2023
The EURUSD pair hovers around 1.0960 level since morning, waiting to breach it and confirm the continuation of the bullish wave in the upcoming sessions, which its next target reaches 1.1080.
We remind you that the consolidation of 1.0960 level against the positive attempts will stop the bullish trend scenario and force the price to decline towards 1.0860 mainly.
The expected trading range for today is between 1.0900 support and 1.1050 resistance.
The expected trend for today: Bullish
The AUDCAD is under the positive effect – Analysis – 21-11-2023
The AUDCAD pair formed strong bullish rally recently due to its consolidation within the bullish channel, to surpass 0.8975 obstacle and notice achieving new gains by reaching 0.9028.
We notice stochastic continuous fluctuation within the overbought areas, to increase the chances of gathering the required additional positive momentum to achieve new gains that might extend towards 0.9045 soon, followed by reaching the bullish channel’s resistance at 0.9065.
The expected trading range for today is between 0.8990 and 0.9045
The expected trend for today: Bullish
Natural gas price prepares for new decline – Analysis – 21-11-2023
Natural gas price provided new negative close below the neckline of the head and shoulders’ pattern at 3.050, to confirm surrendering to the domination of the previously suggested bearish bias, also, stochastic crawl towards the oversold areas will increase the negative pressures to keep our expectations to target 2.7500 support line soon, while breaking it will confirm moving to the next negative station to target 2.550 direct.
The expected trading range for today is between 3.050 and 2.750
The expected trend for today: Bearish
The EURJPY declines below the additional support – Analysis – 21-11-2023
The EURJPY pair confirmed surrendering to the domination of the correctional bearish bias by providing negative close below the additional support 162.10 yesterday, noticing suffering clear losses by reaching 161.45.
The contradiction between the MA55 that consolidates below the price against stochastic attempt to provide the additional negative momentum allows us to expect instability and forming mixed sideways trades, while declining below 161.25 will force it to suffer additional losses until testing the main bullish channel’s support line at 160.65.
The expected trading range for today is between 161.85 and 161.25
The expected trend for today: Bearish