The USDCAD is affected by the negative momentum – Analysis - 23-12-2020
The USDCAD pair provides negative trades now, affected by stochastic negativity, and it might head to test the key support 1.2854 before turning back to rise again.
Until now, the correctional bullish trend scenario still active as long as 1.2854 and 1.2820 levels remain intact, noting that our targets begin at 1.2956 and extend to 1.3040 after breaching the previous level.
The expected trading range for today is between 1.2800 support and 1.2960 resistance.
The expected trend for today: Bullish
The USDJPY is stable – Analysis - 23-12-2020
The USDJPY pair shows slight negative trades in attempt to move away from 103.65, motivated by the negative signal provided now by stochastic, waiting for more decline to visit 102.50 that represents our next main target.
The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 103.65.
The expected trading range for today is between 102.70 support and 103.90 resistance
The expected trend for today: Bearish
The GBPUSD begins positively - Analysis - 23-12-2020
The GBPUSD pair starts today positively to move above the minor bullish channel’s support line, but we notice that the EMA50 forms negative pressure that we expect to push the price to decline again, to continue suggesting the bearish trend that targets 1.3250 followed by 1.3190 levels as next main stations.
On the other hand, we should note that breaching 1.3440 followed by 1.3510 levels will stop the negative scenario and lead the price to regain the main bullish trend again.
The expected trading range for today is between 1.3300 support and 1.3470 resistance.
The expected trend for today: Bearish
The EURUSD attempts to recover – Analysis - 23-12-2020
The EURUSD pair begins today positively in attempt to trade above 1.2175, but we will depend on yesterday’s close below this level to continue suggesting the bearish trend for the upcoming sessions, which its next target located at 1.2115.
Therefore, we are waiting for negative trades today supported by moving below the EMA50, taking into consideration that breaching 1.2210 is considered as positive key to push the price to achieve more gains and resume the main bullish trend again.
The expected trading range for today is between 1.2100 support and 1.2260 resistance.
The expected trend for today: Bearish