The USDCAD approaches the target – Analysis - 18-03-2022
The USDCAD pair continues to decline to approach our waited negative target at 1.2590, and we suggest the continuation of the negative pressure to break this level and open the way to continue the decline and achieve additional negative targets that reach 1.2480.
Therefore, the bearish trend will remain valid unless the price rallied to breach 1.2725 and hold above it.
The expected trading range for today is between 1.2540 support and 1.2680 resistance.
The expected trend for today: Bearish
The USDJPY keeps its positive stability – Analysis - 18-03-2022
The USDJPY pair tested the key support base 118.40 and bounced bullishly from there, accompanied by witnessing positive signals through stochastic, which supports the expectations of achieving more gains in the upcoming period, noting that our next target reaches 120.00.
On the other hand, we should note that breaking 118.40 will stop the expected rise and press on the price to achieve some bearish correction before resuming the bullish trend again.
The expected trading range for today is between 118.20 support and 119.50 resistance
The expected trend for today: Bullish
The GBPUSD awaits confirmation signal - Analysis - 18-03-2022
The GBPUSD pair couldn’t manage to confirm breaching 1.3175 level, as it faced solid resistance there, to keep the price stuck between the trend keys represented by the mentioned resistance and 1.3100 support, which makes us continue with our neutrality until the price confirms breaching one of these levels.
Note that breaching the mentioned resistance will complete forming inverted head and shoulders’ pattern that has positive targets that reach 1.3310, while breaking the support will press on the price to resume the main bearish trend again.
The expected trading range for today is between 1.3060 support and 1.3245 resistance.
The expected trend for today: Depends on the above mentioned levels
The EURUSD reaches the positive target – Analysis - 18-03-2022
The EURUSD pair reached few pips away from our waited target at 1.1145 and bounced bearishly from there, to head towards resuming the main bearish trend, on its way to achieve negative targets that start at 1.0920 and extend to 1.0775 after breaking the previous level.
The EMA50 forms negative pressure that supports the expected negative scenario, which will remain valid unless breaching 1.1145 and holding above it.
The expected trading range for today is between 1.0980 support and 1.1145 resistance.
The expected trend for today: Bullish