The USDCAD surpasses the first target – Analysis - 26-07-2022
The USDCAD pair bounced downwards strongly to surpass our first waited target at 1.2870 and confirm opening the way to head towards our next negative target at 1.2790, waiting for more expected decline in the upcoming sessions, supported by the negative pressure formed by the EMA50.
Note that breaking the targeted level will extend the bearish wave to reach 1.2685 areas, while holding below 1.2870 represents the first condition to continue the suggested decline.
The expected trading range for today is between 1.2750 support and 1.2890 resistance.
The expected trend for today: Bearish
The USDJPY gets a negative signal – Analysis - 26-07-2022
The USDJPY pair hovers around 136.40 level since yesterday, noticing that stochastic provides negative overlapping signal now, waiting to motivate the price to resume the negative trades and head towards our next targets that start at 135.00 and extend to 134.55.
Therefore, our bearish overview will remain valid and active, depending on the completion of the double top pattern, noting that breaching 137.30 will stop the negative effect of this pattern and lead the price to recover again.
The expected trading range for today is between 135.60 support and 136.90 resistance
The expected trend for today: Bearish
The GBPUSD hits the target - Analysis - 26-07-2022
The GBPUSD pair succeeded to touch our waited target at 1.2077, starting today with new bullish bias in attempt to breach it, reinforcing the chances of continuing the bullish wave on the intraday and short term basis, noting that breaching this level will push the price to 1.2160 as a next target.
The EMA50 keeps supporting the expected bullish wave, which will remain valid unless breaking 1.2020 and holding below it.
The expected trading range for today is between 1.2000 support and 1.2170 resistance.
The expected trend for today: Bullish
The EURUSD awaits more rise – Analysis - 26-07-2022
The EURUSD pair settles above 1.0200 level, getting continuous positive support by the EMA50, to support the chances of breaching 1.0276 and open the way to achieve more gains on the intraday basis, as the next target is located at 1.0355.
On the other hand, we notice that the price is forming positive pattern that its signs appear on the chart, its confirmation line is located at 1.0276, which supports the chances of achieving more rise on the longer term basis, to keep the bullish trend scenario suggested in the upcoming sessions conditioned by the price stability above 1.0200.
The expected trading range for today is between 1.0170 support and 1.0330 resistance.
The expected trend for today: Bullish