The USDCAD breaks the support – Analysis - 24-12-2020
The USDCAD pair broke 1.2854 level clearly and closed the daily candlestick below it, which puts the price under expected negative pressure in the upcoming sessions, to resume the main bearish track that its targets begin at 1.2765 and extend to 1.2688.
Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 1.2854 and holding above it again will reactivate the correctional bullish scenario that targets testing 1.2956 initially.
The expected trading range for today is between 1.2760 support and 1.2900 resistance.
The expected trend for today: Bearish
No news for the USDJPY – Analysis - 24-12-2020
The USDJPY pair did not show any strong move in the previous sessions, to keep its stability below 103.65, thus, the bearish trend scenario will remain valid as it is without any change, depending on the price stability below the mentioned level, reminding you that our next main target is located at 102.50.
The expected trading range for today is between 102.70 support and 104.00 resistance
The expected trend for today: Bearish
The GBPUSD surpasses the resistance levels - Analysis - 24-12-2020
The GBPUSD pair rallied upwards strongly to breach 1.3510 level and settles above it, which stops the negative scenario and leads the price to resume the main bullish trend, on its way to achieve positive targets that start at 1.3624 and extend to 1.3760.
Therefore, the bullish trend will be suggested in the upcoming sessions, taking into consideration that breaking 1.3440 will stop the expected rise and press on the price to decline again.
The expected trading range for today is between 1.3450 support and 1.3650 resistance.
The expected trend for today: Bullish
The EURUSD begins with new positivity – Analysis - 24-12-2020
The EURUSD pair opens today’s trading with new bullish bias to settle above 1.2200 barrier, which hints the price head to achieve more gains and regain the main bullish trend, but it needs to breach 1.2225 to confirm the continuation of the rise and achieve positive targets that start at 1.2300 and extend to 1.2375.
On the other hand, bouncing bearishly and breaking 1.2175 will put the price under the negative pressure that its targets begin by testing the bullish channel’s support line at 1.2130 and attempt to break to start correctional bearish wave on the intraday basis.
Therefore, we prefer staying neutral until we get clearer signal for the upcoming trend, which we will get through breaching 1.2225 resistance or breaking 1.2175 support.
The expected trading range for today is between 1.2100 support and 1.2300 resistance.
The expected trend for today: Neutral