The USDCAD keeps its negative stability – Analysis - 23-10-2020
The USDCAD pair shows some slight bearish bias to hint heading to resume the recently suggested bearish trend scenario, supported by the negative pressure formed by the EMA50, waiting to head towards 1.3035 followed by 1.2960 levels that represent our next main targets.
On the other hand, we should note that breaching 1.3175 will stop the expected decline and leads the price to achieve intraday gains that target 1.3240 followed by 1.3362 levels mainly.
The expected trading range for today is between 1.3090 support and 1.3200 resistance.
The expected trend for today: Bearish
The USDJPY gets a negative signal – Analysis - 23-10-2020
The USDJPY pair begins providing negative trades now, hinting the price head to resume the expected bearish trend for the upcoming period, noticing that stochastic overlaps negatively to motivate the price to achieve more decline today.
Therefore, we will keep our bearish overview conditioned by the price stability below 105.20, reminding you that our next main target reaches 103.65.
The expected trading range for today is between 103.90 support and 105.20 resistance
The expected trend for today: Bearish
The GBPUSD heads towards the negative target - Analysis - 23-10-2020
The GBPUSD pair shows more bearish bias to move below 1.3100 barrier, reinforcing the expectations of continuing the intraday bearish trend, reminding you that our main waited target is located at 1.3000.
We need to monitor the price behavior when reaching the targeted level, as the consolidation against the current decline will push the price to resume the short term bullish trend, while breaking it will press on the price to achieve more decline and visit 1.2920 areas before any new attempt to rise.
The expected trading range for today is between 1.2970 support and 1.3150 resistance.
The expected trend for today: Bearish temporarily
The EURUSD continues to decline – Analysis - 23-10-2020
The EURUSD pair tests the EMA50 that forms intraday support base at 1.1790 now, and the price needs to surpass this level to confirm the continuation of the intraday bearish wave, which targets 1.1720 level as a next main station.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions, taking into consideration that breaching 1.1880 will stop the expected decline and leads the price to resume the main bullish trend again.
The expected trading range for today is between 1.1720 support and 1.1880 resistance.
The expected trend for today: Bearish temporarily