The USDCAD continues to fluctuate – Analysis - 02-11-2021
The USDCAD pair keeps fluctuating around the EMA50, and we still waiting to confirm its situation according to 1.2365 to detect the next targets clearly, which makes us continue with our neutrality until now.
The contradiction between stochastic positivity and the negative pressure formed by the EMA50 provides another reason for neutrality, while the expected targets of the upcoming period are explained in our previous report.
The expected trading range for today is between 1.2320 support and 1.2450 resistance.
The expected trend for today: Neutral
The USDJPY gathers the positive momentum – Analysis - 02-11-2021
The USDJPY pair shows bearish bias to retest the breached resistance that turns into support now at 113.85, and the EMA50 meets this support to add more strength to it, while stochastic shows oversold signals now.
Therefore, we believe that the chances valid to resume the expected bullish trend on the intraday and short term basis, which its next target located at 114.70, while its continuation requires holding above 113.85 and the most important above 113.40.
The expected trading range for today is between 113.40 support and 114.60 resistance
The expected trend for today: Bullish
The EURUSD tests the resistance – Analysis - 02-11-2021
The EURUSD pair continued to rise to reach the key resistance 1.1615, noticing that the EMA50 forms good resistance barrier against the price, accompanied by stochastic loss to the positive momentum and witnessing clear negative signals on the four hours’ time frame.
Therefore, these factors encourage us to suggest the bearish bias today, expecting to visit 1.1525 level initially, noting that breaching 1.1615 will push the price to achieve additional gains that target testing 1.1670 before any new attempt to decline.
The expected trading range for today is between 1.1520 support and 1.1650 resistance.
The expected trend for today: Bearish
Facebook tries to vent off oversold saturation - Analysis - 01-11-2021
Facebook's stock (FB) rose 2.10% in the last session while recouping some past losses, as the stock vents off oversold saturation in the RSI, amid negative pressure from the 50-day SMA, and amid the dominance of the downward correctional short-term wave.
Therefore we expect the stock to return lower, targeting the pivotal support of 297.35, provided the resistance of 335.75 holds on.
Expected trend for today: Bearish