The USDCAD approaches the target – Analysis - 23-03-2021
The USDCAD pair continues to rise to approach our waited target at 1.2575, which represent the minor bearish channel’s resistance that appears on the chart, noting that breaching this level will lead the price to achieve additional gains that extend to 1.2730.
The EMA50 supports the expected rise, which will remain valid unless breaking 1.2465 and holding below it.
The expected trading range for today is between 1.2480 support and 1.2620 resistance.
The expected trend for today: Bullish
The USDJPY around the moving average – Analysis - 23-03-2021
The USDJPY pair hovers around the EMA50, noticing that stochastic loses its positive momentum to approach the overbought areas, which support the chances of continuing the expected bearish trend on the intraday basis, waiting to visit 107.70 as a first main target.
We remind you that the continuation of the bearish wave depends on the price stability below 109.22, as breaching this level represents the key to resume the main bullish trend again.
The expected trading range for today is between 108.00 support and 109.20 resistance
The expected trend for today: Bearish
The GBPUSD is stable - Analysis - 23-03-2021
The GBPUSD pair keeps its stability below the intraday bearish channel’s resistance, falling under negative pressure formed by the EMA50, while stochastic overlaps negatively now.
Therefore, these factors encourage us to continue suggesting the bearish trend on the intraday basis, which targets testing 1.3775 mainly, noting that breaching 1.3895 will stop the negative scenario and lead the price to resume the main bullish trend again.
The expected trading range for today is between 1.3750 support and 1.3900 resistance.
The expected trend for today: Bearish
The EURUSD gets a negative signal – Analysis - 23-03-2021
The EURUSD pair’s rise stopped at the EMA50, to start providing negative trades by today’s open, noticing that stochastic overlaps negatively now, which support the chances of achieving more decline in the upcoming sessions, waiting to attack 1.1888 and open the way to head towards 1.1780 as a next main station.
Therefore, we will keep our bearish overview unless breaching 1.1976 and holding with a daily close above it.
The expected trading range for today is between 1.1830 support and 1.1976 resistance.
The expected trend for today: Bearish