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The USDCAD breaks the support – Analysis - 05-10-2021
The USDCAD pair broke 1.2600 level strongly and closed the daily candlestick below it, to activate the bearish trend scenario for the upcoming period, targeting visiting 1.2495 mainly.
The EMA50 supports the expected decline, noting that breaching 1.2665 will stop the negative scenario and lead the price to start new recovery attempts.
The expected trading range for today is between 1.2550 support and 1.2665 resistance.
The expected trend for today: Bearish
The USDJPY consolidates above the support – Analysis - 05-10-2021
The USDJPY pair kept its stability above 110.95, and begins to provide positive trades now, to support the continuation of the expected bullish trend for the upcoming period, which targets 112.05 mainly.
MoreThe GBPUSD tests the resistance - Analysis - 05-10-2021
The GBPUSD pair continued to rise to test 1.3600 level, noticing that the price keeps its stability below this level, which represents the point that 38.2% Fibonacci correction level meets the bearish channel’s resistance, accompanied by witnessing negative signals through stochastic.
MoreThe EURUSD achieves some bearish correction – Analysis - 05-10-2021
The EURUSD pair provided positive trades yesterday but it stopped at 23.6% Fibonacci correction level for the decline measured from 1.1909 to 1.1563, noticing that the price bounced bearishly from there, as the EMA50 meets this level to add more strength to it, while stochastic shows clear negative signals now.
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