The USDCAD resumes the decline – Analysis - 28-07-2022
The USDCAD pair traded with clear negativity yesterday to approach our waited target at 1.2790, falling under continuous negative pressure coming by the EMA50, to support the continuation of the bearish trend domination, noting that breaking the mentioned level will extend the bearish wave to reach 1.2685.
Therefore, our bearish overview will remain valid conditioned by the price stability below 1.2870.
The expected trading range for today is between 1.2740 support and 1.2880 resistance.
The expected trend for today: Bearish
The USDJPY hits the first target – Analysis - 28-07-2022
The USDJPY pair managed to breach 136.40 level strongly to achieve our first negative target at 135.25 and attempts to break it, reinforcing the expectations of continuing the bearish trend, which targets 134.55 as a next station.
The negative effect of the double top pattern still active, taking into consideration that the continuation of the bearish wave requires holding below 136.40.
The expected trading range for today is between 134.50 support and 136.00 resistance
The expected trend for today: Bearish
The GBPUSD achieves the extended target and heads for more - Analysis - 28-07-2022
The GBPUSD pair rallied upwards strongly yesterday to succeed achieving our waited target at 1.2160, and by taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders’ pattern that appears on the image, to head towards achieving more gains that reach 1.2300.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period supported by the EMA50, noting that holding above 1.2077 is important to achieve the waited targets.
The expected trading range for today is between 1.2100 support and 1.2270 resistance.
The expected trend for today: Bullish
The EURUSD surpasses the resistance – Analysis - 28-07-2022
The EURUSD pair tested 1.0100 level and bounced upwards strongly from there, to breach 1.0200 level and attempt to hold above it, which hints heading to reactivate the positive scenario, to suggest more bullish bias in the upcoming sessions and head to test 1.0278 followed by 1.0355 levels as main targets.
Therefore, the bullish trend will be expected for today conditioned by the price stability above 1.0200 level.
The expected trading range for today is between 1.0140 support and 1.0300 resistance.
The expected trend for today: Bullish