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The USDCAD gets a positive close – Analysis - 08-09-2023
The USDCAD pair begins today’s trading with slight bearish bias, but we notice that the price closed yesterday above 1.3680, which supports the chances of continuing the expected bullish trend for the upcoming period, which targets 1.3760 as a next station.
Therefore, we are waiting for more rise on the intraday and short term basis supported by the EMA50, taking into consideration that failing to consolidate above 1.3680 will push the price to turn to decline and head to visit 1.3560 initially.
The expected trading range for today is between 1.3610 support and 1.3750 resistance.
The expected trend for today: Bullish
The USDJPY tests the support base – Analysis - 08-09-2023
The USDJPY pair tested the key support 146.55 and bounced bullishly from there, to settle above 147.00 barrier again, which keeps the bullish trend scenario valid and active for the upcoming period, motivated by stochastic positivity that appears clearly now, waiting to head towards our next target at 148.40.
MoreThe GBPUSD tests the resistance - Analysis - 08-09-2023
The GBPUSD pair is testing the key resistance 1.2505 and keeps its stability below it until now, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the main bearish trend, which its next target located at 1.2395.
MoreThe EURUSD attempts to recover - 08-09-2023
The EURUSD pair found solid support at 1.0700 level, to show some slight bullish bias now, affected by stochastic positivity, and it might head to test the key resistance 1.0785 before turning back to decline again.
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