The USDCAD reaches the extended target – Analysis - 29-07-2022
The USDCAD pair provided new negative trades to reach 1.2790 level, and the EMA50 continues to press negatively on the price, to reinforce the expectations of continuing the correctional bearish trend, which its next target reaches 1.2685.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 1.2870 and holding above it.
The expected trading range for today is between 1.2740 support and 1.2860 resistance.
The expected trend for today: Bearish
The USDJPY keeps achieving the negative targets – Analysis - 29-07-2022
The USDJPY pair succeeded to achieve our second target at 134.55 and begins today with clear decline to break this level and open the way to extend the correctional bearish wave, targeting 133.00 followed by 131.55 levels as next negative stations.
Therefore, we are waiting for more expected decline in the upcoming sessions unless the price rallied to breach 134.55 followed by 135.70 levels and holding above them.
The expected trading range for today is between 132.90 support and 134.55 resistance
The expected trend for today: Bearish
The GBPUSD awaits more rise - Analysis - 29-07-2022
The GBPUSD pair faced temporary negative pressure yesterday to test 1.2100 barrier and rebounds bullishly to resume the bullish wave, as the positive effect of the inverted head and shoulders’ pattern still active, supported by the EMA50, waiting for more rise to visit 1.2300 as a next main target.
Therefore, the bullish trend scenario will remain valid and active unless breaking 1.2077 and holding below it.
The expected trading range for today is between 1.2100 support and 1.2270 resistance.
The expected trend for today: Bullish
The EURUSD faces new negative pressure – Analysis - 29-07-2022
The EURUSD pair traded with strong negativity yesterday to test the most important support at 1.0100, and bounced bullishly from there to test 1.0200 level now and attempts to breach it, which encourages us to continue suggesting the bullish trend for the upcoming period, and the price needs to step above the last level to confirm the continuation of the bullish bias towards 1.0278 followed by 1.0355 levels as next main targets.
The EMA50 supports the expected rise, which will remain valid conditioned by the price stability above 1.0100.
The expected trading range for today is between 1.0140 support and 1.0300 resistance.
The expected trend for today: Bullish