The GBPUSD tests the resistance - Analysis - 18-09-2020
The GBPUSD pair traded with clear positivity yesterday to test the key resistance 1.3000, starting to rebound bearishly from there, to approach the intraday bullish channel’s support line that appears on the chart, which we believe that it forms bearish flag pattern that supports our expectations of continuing the bearish trend on the intraday and short term basis.
Therefore, our bearish overview will remain valid for the upcoming period, supported by the EMA50 that presses negatively on the price, noting that our main expected target reaches 1.2705, while achieving it requires holding below 1.3000.
The expected trading range for today is between 1.2840 support and 1.3020 resistance.
The expected trend for today: Bearish
The EURUSD achieves intraday gains – Analysis - 18-09-2020
The EURUSD pair provided clear positive trades to surpass the EMA50, noticing that the rise stopped at the intraday bearish channel’s resistance that its signs appear on the chart, accompanied by witnessing clear overbought signals through stochastic, which supports the chances of bouncing bearishly to resume the correctional bearish trend.
Therefore, we expect witnessing negative trades today, waiting to visit 1.1720 level as a next main station, noting that breaching 1.1870 will stop the expected decline and motivates the price to achieve additional gains that target testing 1.1910 followed by 1.2011 as initial positive targets.
The expected trading range for today is between 1.1750 support and 1.1910 resistance.
The expected trend for today: Bearish
End of day analysis for Crude oil 17-09-2020
Crude oil price provided new strong positive trades to breach 40.30 and approaches our second waited target at 41.85, to support the expectations of continuing the bullish trend on the intraday and short term basis, noting that the continuation of the bullish wave requires holding above 39.05.
End of day analysis for Gold 17-09-2020
Gold price keeps its stability above 1934.86, to keep the overall bullish trend scenario valid for the upcoming period, which targets 1967.90 followed by 2008.80 as next main stations, reminding you that it is important to hold above 1934.86 to continue the expected rise.