Midday update for the GBPUSD 22-09-2023
The GBPUSD pair resumes its negative trading clearly to press on the bearish channel’s support line, noticing that stochastic overlaps negatively to motivate the price to provide more negative trades in the upcoming sessions, noting that our next target is located at 1.2200, which breaking it represents the key to rally towards 1.2135 as a next negative station.
Therefore, the bearish trend will remain suggested on the intraday and short term basis, reminding you that it is important to hold below 1.2310 to achieve the waited targets.
The expected trading range for today is between 1.2190 support and 1.2350 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 22-09-2023
The EURUSD pair attempts to break 1.0635 level, to support the continuation of the expected bearish trend for today, motivated by stochastic current negativity, waiting to confirm the break to head towards our next main target at 1.0515.
Therefore, we will continue to suggest the bearish trend for the upcoming sessions conditioned by the price stability below 1.0680.
The expected trading range for today is between 1.0550 support and 1.0700 resistance.
The expected trend for today: Bearish
The CADJPY faces difficulty to rise – Analysis – 22-9-2023
Despite the consolidation of the CADJPY pair within the bullish channel, the stability of the initial resistance at 110.45 hinders the attempts to resume the rise, to notice forming unstable sideways fluctuation.
Also, stochastic exit from the overbought areas confirms postponing the bullish attack to start suggesting the domination of the correctional bearish bias that might target 108.90 and 108.40 levels soon.
The expected trading range for today is between 110.10 and 109.00
The expected trend for today: Bearish
Natural gas price begins to rise – Analysis – 22-9-2023
Natural gas price started to react to the positive factors represented by the frequent stability above the main support 2.400 in addition to stochastic approach to 80 level, to notice the beginning of recording some gains by settling near 2.880.
We expect to resume the bullish attack to target the initial station at 3.100 initially, followed by extending trades towards the next main target at 3.550.
The expected trading range for today is between 2.720 and 3.100
The expected trend for today: Bullish