The USDCAD rallies upwards – Analysis - 08-08-2022
The USDCAD pair breached 1.2870 level strongly, to reach 1.2950 direct, to head towards achieving expected gains in the upcoming sessions, noting that breaching the last level will push the price to 1.3055 areas on the near term basis.
Therefore, the bullish bias will be expected for the upcoming sessions, supported by moving above the EMA50, noting that breaking 1.2870 will stop the suggested positive scenario and press on the price to decline again.
The expected trading range for today is between 1.2870 support and 1.3020 resistance.
The expected trend for today: Bullish
The USDJPY completes positive pattern – Analysis - 08-08-2022
The USDJPY pair rallied upwards strongly to breach 134.50 level and settles above it, to activate the positive scenario on the intraday and short term basis, noticing that the price completed forming double bottom pattern that supports the chances of achieving gains that start at 136.40 and extend to 137.45.
Therefore, we expect to witness more rise in the upcoming sessions, noting that breaking 134.50 will press on the price to decline again and head to visit 133.05 initially.
The expected trading range for today is between 134.50 support and 136.30 resistance
The expected trend for today: Bullish
The GBPUSD retests the neckline - Analysis - 08-08-2022
The GBPUSD pair continued to decline to retest the breached neckline of the inverted head and shoulders’ pattern that appears on the chart, and attempts to consolidate above this key support at 1.2045, to keep the positive effect of the mentioned positive pattern active, which encourages us to suggest the bullish bias for the upcoming period, waiting to head towards 1.2210 as a first main station.
Therefore, the bullish trend will be expected for today, noting that breaking 1.2045 will stop the positive scenario and press on the price to return to the main bearish track again.
The expected trading range for today is between 1.2000 support and 1.2170 resistance.
The expected trend for today: Bullish
The EURUSD gets the positive momentum – Analysis - 08-08-2022
The EURUSD pair moves within bullish channel that its signs appear on the chart, and the price leaned on this channel’s support line to start the attempt to rise now, accompanied by witnessing positive signals through stochastic, waiting to motivate the price to resume the bullish trend, which its main targets begin at 1.0278.
Therefore, the bullish trend scenario will remain valid and active unless breaking 1.0100 and holding below it.
The expected trading range for today is between 1.0120 support and 1.0278 resistance.
The expected trend for today: Bullish