The USDCAD loses momentum – Analysis - 11-02-2021
The USDCAD pair settles below 1.2700 barrier, noticing that stochastic lost its positive momentum clearly, while the EMA50 forms continuous negative pressure against the price.
Therefore, these factors support the continuation of the expected bearish trend for the upcoming period, which targets 1.2635 followed by 1.2590 level as next main stations, reminding you that it is important to hold below 1.2780 to achieve these targets.
The expected trading range for today is between 1.2620 support and 1.2760 resistance.
The expected trend for today: Bearish
The USDJPY touches the first target – Analysis - 11-02-2021
The USDJPY pair succeeded to touch our first target at 104.40 and settles near it, noticing that stochastic shows negative signals now, which supports the chances of breaking this level and open the way to head towards our next waited target at 103.65.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 105.20 level and holding with a daily close above it.
The expected trading range for today is between 103.80 support and 105.00 resistance
The expected trend for today: Bearish
The GBPUSD keeps rising - Analysis - 11-02-2021
The GBPUSD pair shows more bullish bias to approach 1.3900 barrier, reinforcing the expectations of continuing the main bullish trend, which targets 1.3965 level as a next station.
The EMA50 keeps supporting the suggested bullish wave, besides that stochastic gets rid of its negative momentum gradually, taking into consideration that the continuation of the expected rise requires holding above 1.3735.
The expected trading range for today is between 1.3770 support and 1.3965 resistance.
The expected trend for today: Bullish
The EURUSD gathers the positive momentum – Analysis - 11-02-2021
The EURUSD pair continues to fluctuate around 1.2130 level, noticing that stochastic gets rid of its negative momentum to reach the thresholds of the oversold areas, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which targets testing 1.2171 level initially, reminding you that breaching this level will extend the bullish wave to reach 1.2300.
On the other hand, we should note that breaking 1.2064 and holding below it will stop the expected rise and press on the price to achieve more bearish correction that its next target reaches 1.1976.
The expected trading range for today is between 1.2065 support and 1.2220 resistance.
The expected trend for today: Bullish