The USDCAD gets a negative signal – Analysis - 27-07-2022
The USDCAD pair provided positive trades yesterday to move above 1.2870, but we notice that the EMA50 formed good resistance against the price, to decline again and settles below the mentioned level now, and stochastic begins to overlap negatively and motivates the price to provide more negative trades in the upcoming sessions, waiting to head towards 1.2790 as a next negative target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that failing to consolidate below 1.2870 will lead the price to achieve new gains and test 1.2950 areas before any new attempt to decline.
The expected trading range for today is between 1.2780 support and 1.2920 resistance.
The expected trend for today: Bearish
The USDJPY retests the neckline – Analysis - 27-07-2022
The USDJPY pair shows bullish bias to retest the broken neckline of the double top pattern at 137.30, accompanied by stochastic loss to the positive momentum, while the EMA50 meets the mentioned level to add more strength to this resistance.
Therefore, these factors encourage us to continue suggesting the domination of the correctional bearish trend for the upcoming sessions, and the targets begin by surpassing 136.40 to open the way to head towards 135.25 followed by 134.55, reminding you that it is important to hold below 137.30 to achieve these targets.
The expected trading range for today is between 136.10 support and 137.50 resistance
The expected trend for today: Bearish
The GBPUSD gets a positive motive - Analysis - 27-07-2022
The GBPUSD pair provided temporary negative trades yesterday to test the EMA50 that forms good support against the price, and begins to rise now, motivated by stochastic positivity, waiting to breach 1.2070 level to confirm rallying towards 1.2160 that represents our next target.
Therefore, the bullish trend scenario will remain active unless breaking 1.1980 and holding below it.
The expected trading range for today is between 1.1980 support and 1.2150 resistance.
The expected trend for today: Bullish
The EURUSD under the negative pressure – Analysis - 27-07-2022
The EURUSD pair faced strong negative pressure yesterday to break 1.0200 and reach 1.0100, to hint potential return to the main bearish track, but it faces contradiction between the technical factors that makes us prefer to stay aside until the price confirms breaching one of the mentioned levels and detect the next destination clearly.
Note that breaking 1.0100 will press on the price to continue the decline and achieve additional negative targets that reach 0.9950, while breaching 1.0200 resistance will motivate the price to provide new recovery attempts that start by visiting 1.0280 and extend to 1.0355 after breaching the previous level.
The expected trading range for today is between 1.0060 support and 1.0230 resistance.
The expected trend for today: Neutral