The USDCAD awaits the break – Analysis - 01-08-2022
The USDCAD pair resumes its negative trading to start pressing on 1.2790 level, waiting to break this level to confirm rallying towards 1.2685 that represents our next negative station.
The EMA50 keeps supporting the expected bearish wave, organized inside the bearish channel that appears on the chart, reminding you that holding below 1.2870 is important to achieve the waited targets.
The expected trading range for today is between 1.2720 support and 1.2860 resistance.
The expected trend for today: Bearish
The USDJPY surpasses the first extended targets – Analysis - 01-08-2022
The USDJPY pair continued to decline to manage to achieve our first extended target at 133.00, opening today with additional decline to surpass this level and confirm the continuation of the correctional bearish trend domination, and the way is open to visit 131.55 that represents the next negative target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that breaching 133.00 followed by 134.55 levels will stop the suggested negative scenario and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 131.70 support and 133.30 resistance
The expected trend for today: Bearish
The GBPUSD keeps its positive stability - Analysis - 01-08-2022
The GBPUSD pair tested the key support base 1.2077 and bounced upwards strongly from there, to keep the bullish trend scenario valid and active for the upcoming period, affected by the previously completed inverted head and shoulders’ pattern, organized inside the bullish channel that appears on the chart, noting that our next targets begin at 1.2285 and go further to 1.2490.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 1.2077 and holding below it.
The expected trading range for today is between 1.2100 support and 1.2290 resistance.
The expected trend for today: Bullish
The EURUSD builds positive formation – Analysis - 01-08-2022
The EURUSD pair trades positively to gradually approach our first waited target at 1.0278, and by taking a deeper look at the chart, we find that this level forms the confirmation line to positive pattern that has positive targets that surpass 1.0355 to reach 1.0450.
Therefore, we expect to witness more rise in the upcoming sessions supported by the EMA50 that carries the price from below, reminding you that the continuation of the bullish wave depends on the price stability above 1.0100.
The expected trading range for today is between 1.0170 support and 1.0320 resistance.
The expected trend for today: Bullish