Midday update for the GBPUSD 22-10-2020
The GBPUSD pair crawls downwards calmly to move away from the intraday bullish channel’s resistance gradually, while stochastic continues to provide the negative signals on the four hours’ time frame, to keep the bearish trend scenario valid and active for today, which depends on the price stability below 1.3165, reminding you that our main waited target is located at 1.3000.
The expected trading range for today is between 1.3030 support and 1.3200 resistance.
The expected trend for today: Bearish temporarily
Midday update for the EURUSD 22-10-2020
The EURUSD pair tested the bullish channel’s resistance and still below it until now, which keeps the bearish trend scenario active for today, which targets 1.1720 mainly, reminding you that breaching 1.1870 will stop the negative overview and push the price to rise again and head towards 1.2011 initially.
The expected trading range for today is between 1.1740 support and 1.1900 resistance.
The expected trend for today: Bearish temporarily
The GBPNZD decreases the threats of the decline – Analysis – 22-10-2020
The GBPNZD pair resisted the negative pressures, to decrease the threats of suffering losses and move away from 1.9233 support line, surpassing the moving average 55 and notice rallying towards 1.9714.
We expect 1.9630 level to form solid support, confirming keeping the bullish bias domination, which eases the mission of recording new positive targets that might extend to 1.9895 followed by reaching 50% Fibonacci correction level.
The expected trading range for today is between 1.9600 and 1.9895
The expected trend for today: Bullish
The EURJPY achieves the negative targets – Analysis – 22-10-2020
The EURJPY pair surrendered to the stability of 125.00 barrier yesterday, to notice forming negative rebound and recording the temporary negative targets by reaching 123.90.
We expect forming mixed trades in the upcoming period, due to the price move between strong levels represented by 125.00 resistance and 123.25 support, thus, we recommend staying neutral and wait to surpass one of the mentioned levels to manage to detect the next main trend.
The expected trading range for today is between 125.05 and 123.30
The expected trend for today: Neutral