Midday update for the GBPUSD 31-01-2023
The GBPUSD pair trades negatively to break 1.2320 and attempts to hold below it, which urges caution from the upcoming trading and makes us prefer to stay aside until the price confirms its situation according to this level, as confirming the break will push the price to achieve bearish correction that its targets begin by testing 1.2155 and extend to 1.1940, while consolidating above it will reactivate the positive scenario that its targets begin by testing 1.2440.
The expected trading range for today is between 1.2250 support and 1.2400 resistance.
The expected trend for today: Neutral
Midday update for the EURUSD 31-01-2023
The EURUSD pair faces additional negative pressure to break 1.0845 level and heads towards potential visit to the key support levels between 1.0780 and 1.0745 levels, making the bearish bias suggested for the rest of the day, supported by moving below the EMA50, taking into consideration that breaching 1.0845 and holding above it again will reactivate the main positive scenario again.
The expected trading range for today is between 1.0750 support and 1.0900 resistance.
The expected trend for today: Bearish for the rest of the day
The GBPCAD holds above the support – Analysis – 31-1-2023
The GBPCAD pair confirmed keeping the bullish attempts by providing new positive close above the minor bullish channel’s support line at 1.6470, to manage to renew the bullish rally and settle near 1.6555.
Now, stochastic attempt to provide the positive momentum allows us to suggest more positive attempts, to target 1.6680 level soon, while surpassing it will push the price to reach the additional stations at 1.6800 and 1.6930 levels.
The expected trading range for today is between 1.6490 and 1.6680
The expected trend for today: Bullish
Natural gas price faces new negative pressures – Analysis – 31-1-2023
Natural gas price still affected by the frequent negative pressures due to stochastic attempt to crawl towards the oversold areas, to increase the efficiency of the bearish track and notice its fluctuation near the negative target at 2.650.
Also, the stability of 3.500 barrier forms major factor to confine trades within the bearish track, to keep waiting to resume the negative attack until touching the bearish channel’s resistance at 2.250 followed by monitoring the price behavior to manage to detect the next main targets.
The expected trading range for today is between 3.150 and 2.500
The expected trend for today: Bearish