The USDCAD achieves the first target – Analysis - 05-11-2021
The USDCAD pair continued to rise to reach the waited target at 1.2475, and we believe that the chances valid to achieve more bullish bias in the upcoming sessions, as breaching the mentioned level represents the key to head towards 1.2590 as a next main target.
Therefore, the bullish trend scenario will remain valid for the upcoming period unless breaking 1.2365 and holding below it.
The expected trading range for today is between 1.2390 support and 1.2550 resistance.
The expected trend for today: Bullish
The USDJPY faces new negative pressure – Analysis - 05-11-2021
The USDJPY pair shows new negative trades to approach testing the key support 113.40, and as long as the price is above this level, the bullish trend scenario will remain valid for the upcoming period, which its first main target located at 114.70.
We remind you that breaking 113.40 will stop the expected rise and press on the price to return to the correctional bearish track, to head towards achieving negative targets that start by visiting 112.60 areas.
The expected trading range for today is between 113.00 support and 114.30 resistance
The expected trend for today: Overall bullish
The GBPUSD achieves the extended negative targets - Analysis - 05-11-2021
The GBPUSD pair suffered additional losses in the previous sessions to surpass our extended target at 1.3530 and settles below it, to fall under more expected negative pressure in the upcoming period, reminding you that the next negative station reaches 1.3415.
Therefore, we are waiting for more decline on the intraday and short term basis supported by the negative pressure formed by the EMA50, taking into consideration that breaching 1.3530 followed by 1.3605 levels will stop the suggested decline and lead the price to start new recovery attempts.
The expected trading range for today is between 1.3390 support and 1.3570 resistance.
The expected trend for today: Bearish
The EURUSD hits the first target – Analysis - 05-11-2021
The EURUSD pair succeeded to achieve our first waited target at 1.1525 and settles there, waiting for more decline to break this level and open the way to head towards 1.1400 that represents our next main target.
The EMA50 continues to press negatively on the price to support the expectations to decline, which will remain valid unless breaching 1.1615 and holding above it.
The expected trading range for today is between 1.1460 support and 1.1615 resistance.
The expected trend for today: Bearish