Midday update for the GBPUSD 01-03-2021
The GBPUSD pair resumes its negative trades after testing the EMA50, to keep the bearish trend valid and active for the upcoming sessions, supported by stochastic to the overbought areas, reminding you that we are waiting to visit 1.3775 followed by 1.3685 as next main stations, while holding below 1.4040 represents major condition to continue the expected decline
The expected trading range for today is between 1.3870 support and 1.4040 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 01-03-2021
The EURUSD pair traded with strong negativity to break 1.2064 and opens the way to head towards our next waited target at 1.1976, to keep the bearish trend scenario valid efficiently for the rest of the day, motivated by the bearish flag pattern that was completed this morning, reminding you that the continuation of the bearish wave requires holding below 1.2100.
The expected trading range for today is between 1.2000 support and 1.2140 resistance.
The expected trend for today: Bearish
The EURGBP tests the resistance – Analysis – 1-3-2021
The EURGBP pair formed correctional bullish wave recently, to test 0.8735 resistance and renew its negative action by declining towards 0.8642, which confirms the surrender to the domination of the bearish bias, to keep our expectations of renewing the pressure on 0.8555 followed by attempting to reach 38.2% Fibonacci correction level at 0.8441.
The expected trading range for today is between 0.8700 and 0.8555
The expected trend for today: Bearish
The Australian index repeats the positive closings – Analysis – 1-3-2021
The Australian index repeated the positive closings above the bullish channel’s support line at 6633.00, to notice the beginning of forming bullish waves and approaching 6825.00 level, also, stochastic begins to provide the positive momentum to allow the index to continue rising and reach 6890.00 followed by 7035.00 levels.
Note that attempting to crawl below the mentioned main support and holding below it will cancel the positive overview by moving to the bearish track, to expect suffering big losses by moving towards 6540.00 and 6420.00.
The expected trading range for today is between 6680.00 and 6890.00
The expected trend for today: Bullish