The USDCAD hits the second target – Analysis - 20-07-2022
The USDCAD pair traded with strong negativity yesterday to succeed achieving our second target at 1.2870, and begins today with more decline to surpass this level and open the way to head towards the next correctional station at 1.2790.
Therefore, we will continue to suggest the bearish trend on the intraday basis, taking into consideration that the continuation of the expected decline depends on the price stability below 1.2870 and the most important below 1.2955.
The expected trading range for today is between 1.2780 support and 1.2920 resistance.
The expected trend for today: Bearish
The USDJPY consolidates above the support – Analysis - 20-07-2022
The USDJPY pair tested the bullish channel’s support line and kept its stability above it until now, as the EMA50 continues to carry the price from below, waiting to rise again to achieve our next positive targets around 139.70 and 140.00.
On the other hand, note that breaking 137.50 will stop the suggested rise and press on the price to start correctional bearish wave on the intraday basis before any new positive attempt.
The expected trading range for today is between 137.50 support and 139.00 resistance
The expected trend for today: Bullish
The GBPUSD confirms the breach - Analysis - 20-07-2022
The GBPUSD pair confirmed breaching the bearish channel’s resistance after closing the daily candlestick above it, to reinforce the expectations of continuing the bullish trend in the upcoming sessions, waiting to test 1.2077 as a first station, noting that breaching this level will open the way to achieve gains on the longer term basis that reach 1.2300.
Therefore, the bullish trend scenario will remain suggested for the upcoming period conditioned by the price stability above 1.1980.
The expected trading range for today is between 1.1950 support and 1.2120 resistance.
The expected trend for today: Bullish
The EURUSD achieves more bullish correction – Analysis - 20-07-2022
The EURUSD pair settles above 1.0200 level, to keep the correctional bullish scenario active for the upcoming period, supported by moving above the EMA50, waiting to resume the bullish bias to achieve our next targets that start at 1.0280 and extend to 1.0355 after breaching the previous level.
Note that breaking 1.0200 will stop the expected rise and press on the price to return to the main bearish track again.
The expected trading range for today is between 1.0170 support and 1.0330 resistance.
The expected trend for today: Bullish