The USDCAD breaks the support – Analysis - 06-01-2021
The USDCAD pair managed to break 1.2688 and closed the daily candlestick below it, which supports the continuation of our bearish overview efficiently on the intraday and short term basis, opening the way to head towards 1.2585 as a next station.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that it is important to hold below 1.2770 to continue the expected decline.
The expected trading range for today is between 1.2600 support and 1.2820 resistance.
The expected trend for today: Bearish
The USDJPY continues to decline – Analysis - 06-01-2021
The USDJPY pair resumed its negative trades to reach the thresholds of the first target at 102.50, falling under continuous negative pressure coming by the EMA50, to support the chances of continuing the bearish trend in the upcoming period, which its next target located at 102.15.
Therefore, the bearish trend will remain suggested on the intraday and short term basis, conditioned by the price stability below 103.65.
The expected trading range for today is between 102.00 support and 103.30 resistance
The expected trend for today: Bearish
The GBPUSD is stable - Analysis - 06-01-2021
The GBPUSD pair settles at the intraday bullish trend line, keeping its stability above it until now, while the EMA50 continues to provide the positive support to the price, to keep the bullish trend scenario valid for the upcoming period, waiting to visit 1.3775 as a next target.
On the other hand, we should note that breaking 1.3550 will press on the price to turn to decline on the intraday basis to test 1.3400 areas initially before any new attempt to rise.
The expected trading range for today is between 1.3550 support and 1.3720 resistance.
The expected trend for today: Bullish
The EURUSD attempts to breach – Analysis - 06-01-2021
The EURUSD pair shows new positive trades now to attempt to breach 1.2300 level, which supports the continuation of the expected bullish trend scenario for the upcoming period, organized inside the bullish channel that appears on the chart, waiting to head towards 1.2440 that represents our next main target.
Therefore, we are waiting for more rise on the intraday and short term basis, supported by the EMA50, noting that it is important to hold above 1.2220 to continue the expected rise.
The expected trading range for today is between 1.2230 support and 1.2400 resistance.
The expected trend for today: Bullish