The GBPUSD breaches the resistance - Analysis - 20-11-2023
The GBPUSD pair bounced bullishly to breach 1.2460 level and close the daily candlestick above it, which stops the recently suggested negative scenario and push the price to resume the correctional bullish trend, on its way to visit 1.2590 as a next main target, which represents 50% Fibonacci correction level for the decline measured from 1.3142 to 1.2037.
The EMA50 supports the price from below, to reinforce the expectations to rise in the upcoming sessions, which will remain valid conditioned by the price stability above 1.2460 – 1.2430 levels.
The expected trading range for today is between 1.2400 support and 1.2560 resistance.
The expected trend for today: Bullish
The EURUSD confirms the breach - 20-11-2023
The EURUSD pair rallied upwards after confirming breaching 1.0860 level, to approach the suggested positive target at 1.0960, and we expect the continuation of the bullish bias to surpass this level and achieve additional bullish correction that its next target reaches 1.1080 areas.
Therefore, the bullish bias will be suggested in the upcoming sessions, affected by the positive pattern that its signs appear on the chart, supported by the EMA50, noting that the continuation of the bullish wave requires holding above 1.0860.
The expected trading range for today is between 1.0860 support and 1.1010 resistance.
The expected trend for today: Bullish
Evening update for Crude oil price 17-11-2023
Crude oil price rallied upwards strongly to breach 73.73 level and head towards achieving expected gains on the intraday basis, on its way to achieve positive targets that start at 75.85 and extend to 77.86 after surpassing the previous level, making the bullish bias suggested in the upcoming sessions unless breaking 73.73 and holding below it.
Evening update analysis for the EURUSD 17-11-2023
The EURUSD pair surpassed 1.0860 level and closed the last four hours’ candlestick above it, to hint turning to rise and achieve gains on the intraday basis, noting that closing the day above the mentioned level will push the price towards 1.0960 as a next positive target, while trading below 1.0860 will reactivate the bearish trend scenario that its next target located at 1.0760.