Midday update for the GBPUSD 17-09-2020
The GBPUSD pair shows positive trades after approaching the intraday bullish channel’s support line, while the EMA50 forms negative pressure against the price, waiting to push trades to decline again and break 1.2890 to confirm opening the way to continue the decline in the upcoming period, as our main negative target at 1.2705.
Therefore, we will continue to suggest the bearish trend for today unless the price rallied to breach 1.3000 and hold above it.
The expected trading range for today is between 1.2820 support and 1.3000 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 17-09-2020
The EURUSD pair bounced upwards strongly after reaching few pips away from our waited negative target at 1.1720, to head towards potential recovery trip in case the mentioned level consolidated against the negative pressure, and we expect to visit 1.1900 areas in the upcoming sessions.
Therefore, we prefer staying aside temporarily until the price confirms its next destination clearly, waiting to breach one of the above mentioned levels, noting that breaching 1.1900 resistance will push the price to achieve more gains and visit 1.2011 initially, while breaking 1.1720 support will open the way to extend the bearish wave to reach 1.1540 as a next main target.
The expected trading range for today is between 1.1700 support and 1.1860 resistance.
The expected trend for today: Neutral
The EURNZD still bullish – Analysis – 17-9-2020
No change to the EURNZD pair’s bullish track despite forming correctional bearish rebound recently, due to its frequent consolidation within the main bullish channel, also, 1.7460 level forms additional support to confirm blocking the price within the bullish range, to keep waiting to form new bullish rally and target 1.7942 followed by reaching 1.8275 levels in the upcoming period.
The expected trading range for today is between 1.7500 and 1.7750
The expected trend for today: Bullish
IBEX index repeats the fluctuation below the resistance – Analysis – 17-9-2020
Despite IBEX index facing positive pressures recently, caused by stochastic rally above 50 level, its frequent fluctuation below the minor channel’s resistance at 7168.00 allows us to continue suggesting the negative trades for the near term and medium term period.
The price needs new negative momentum to manage to renew the negative attempts, expecting to move towards 6855.00 followed by reaching the first main target at 6575.00.
The expected trading range for today is between 7120.00 and 6855.00
The expected trend for today: Bearish