The USDCAD draws the negative pattern – Analysis - 11-01-2022
The USDCAD pair completed forming the head and shoulders’ pattern, waiting to break the neckline at 1.2620 to activate the negative effect of this pattern followed by rallying towards our negative targets that start by surpassing 1.2590 to open the way to head towards 1.2480.
Stochastic provides negative signals now to support the chances of achieving the required break, to continue suggesting the bearish trend on the intraday basis unless breaching 1.2725 and holding above it.
The expected trading range for today is between 1.2560 support and 1.2700 resistance.
The expected trend for today: Bearish
The USDJPY begins bearish correction – Analysis - 11-01-2022
The USDJPY pair ended yesterday with clear negativity to break 115.35 and settles below it, to head towards achieving temporary bearish correction before turning back to rise again.
Therefore, the bearish bias will be suggested for today, and the main expected target reaches 114.50, noting that breaching 115.35 will stop the current negative pressure and lead the price to resume the main bullish trend.
The expected trading range for today is between 114.60 support and 115.80 resistance
The expected trend for today: Bearish
The GBPUSD leans on the channel’s support - Analysis - 11-01-2022
The GBPUSD pair leaned on the bullish channel’s support line and bounced bullishly to resume the main bullish trend, and the way is open to achieve our waited target at 1.3660.
Therefore, we will continue to suggest the bullish trend that gets continuous support by the EMA50, noting that the continuation of the bullish wave requires holding above 1.3555.
The expected trading range for today is between 1.3520 support and 1.3690 resistance.
The expected trend for today: Bullish
The EURUSD continues to rise – Analysis - 11-01-2022
The EURUSD pair shows new bullish bias to approach gradually from 1.1375 level, which hints heading to surpass this level and open the way to achieve more expected gains on the intraday basis, supported by stochastic positivity.
Therefore, the bullish bias will be expected for the upcoming sessions, and breaching 1.1375 will confirm rallying towards 1.1500 followed by 1.1560 levels as next positive targets, taking into consideration that breaking 1.1285 will stop the expected rise and press on the price to decline again.
The expected trading range for today is between 1.1285 support and 1.1420 resistance.
The expected trend for today: Bullish