|
The USDCAD hits the first target – Analysis - 04-03-2024
The USDCAD pair managed to touch our first target at 1.3600 and bounced downwards temporarily to test 1.3550 barrier, noticing that the EMA50 provides the positive support to the price and carries it from below, while stochastic gains the positive momentum clearly and approaches to overlap positively now.
Therefore, we believe that the chances valid to resume the expected bullish trend for the upcoming period, organized inside the bullish channel that appears on the chart, noting that our next target extends to 1.3665, taking into consideration that breaking 1.3510 will stop the bullish wave and push the price to start bearish correction on the intraday basis.
The expected trading range for today is between 1.3500 support and 1.3640 resistance.
The expected trend for today: Bullish
The USDJPY within sideways track – Analysis - 04-03-2024
The USDJPY pair shows sideways trades as appears on the chart, between 149.70 support and 150.88 resistance, to keep our neutrality valid until now, as we are waiting to surpass one of these levels to detect the next targets clearly.
MoreThe GBPUSD attacks the resistance - Analysis - 04-03-2024
The GBPUSD pair ended last Friday positively, as it attacked the key resistance 1.2650 and settled there, to hint heading to regain the main bullish trend again, especially that the recent trades are confined within minor bearish channel that might form bullish flag pattern in case breaching its resistance at 1.2670, which might push the price to achieve gains that start at 1.2760 followed by 1.2827.
MoreThe EURUSD attempts to recover - 04-03-2024
The EURUSD pair provided slight positive trades in the previous sessions to approach the first key resistance 1.0860, noticing that stochastic lost its positive momentum to show clear overbought signals now, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its next target located at 1.0765.
More