Midday update for the EURUSD 31-03-2023
The EURUSD pair shows some slight bearish bias now, affected by stochastic negativity, waiting to gather enough positive momentum to push the price to resume the bullish wave that targets 1.1032 areas as a next main station.
Until now, the bullish trend scenario still valid and active, supported by the EMA50, noting that breaking 1.0850 will press on the price to achieve intraday decline that targets testing the key support 1.0745 before any new attempt to rise.
The expected trading range for today is between 1.0840 support and 1.1000 resistance.
The expected trend for today: Bullish
The GBPCAD keeps the positivity – Analysis – 31-3-2023
The GBPCAD pair formed bullish channel recently, to notice recording many gains by touching 1.6700 level, as the frequent stability above the major support at 1.6480 and 1.6675 level attempt to form additional support allow us to expect the beginning of gathering the additional momentum, to ease the mission of reaching the additional positive stations near 1.6930 and 1.7020.
The expected trading range for today is between 1.6700 and 1.6860
The expected trend for today: Bullish
Natural gas price prepares to resume the decline – Analysis – 31-3-2023
Natural gas price has no escape from resuming he negative attack by consolidating within the bearish channel, in addition to the stability of the additional barrier 2.600, to notice forming new negative crawl recently and consolidate at 2.140.
Note that stochastic continuous attempt to provide the negative momentum will increase the chances of forming strong bearish waves in order to reach the first additional target at 1.750, followed by attempting to touch the historical support at 1.480.
The expected trading range for today is between 2.400 and 1.750
The expected trend for today: Bearish
The EURJPY faces solid resistance – Analysis – 31-3-2023
The EURJPY pair reacted to the major indicators’ positivity, forming new bullish rally to face strong resistance at 145.65, to form solid obstacle against the attempt to move to the bullish track, noticing its rebound towards 144.85 now.
The upcoming scenario depends on the strength of the mentioned resistance, as its stability allows us to expect the beginning of forming negative waves that might push the price to decline towards 144.00 and 143.45 levels, while succeeding to surpass 145.65 resistance will confirm moving to the bullish track, to start targeting more positive stations, and 146.25 will form the first target for the bullish track.
The expected trading range for today is between 145.65 and 144.00
The expected trend for today: Bearish