The USDCAD approaches the target – Analysis - 17-08-2021

The USDJPY pair tested 109.22 level and kept its stability above it, noticing that stochastic begins to provide positive signals now, which supports the chances of starting bullish wave in the upcoming sessions, making the bullish bias suggested on the intraday basis, targeting visiting 109.90 followed by 111.00 areas as initial stations.

Gold price shows more bullish bias to approach gradually from the waited target at 1797.00, moving inside the bullish channel that appears on the chart, which supports the chances of surpassing the mentioned level and achieve more expected gains on the short term basis, noting that the next target reaches 1825.15.

The GBPUSD pair resumes its negative trading after retesting 1.3875 level in the previous sessions, supported by the negative pressure formed by the EMA50, waiting to visit 1.3760 initially, which breaking it represents the key to extend the bearish wave towards 1.3680.