The USDCAD tests the resistance – Analysis - 22-10-2021
The USDCAD pair resumes its negative trades clearly to move away from 1.2365, reinforcing the expectations of continuing the bearish trend, which gets continuous support by the EMA50 that presses negatively on the price, and the way is open to achieve our waited target at 1.2230.
On the other hand, we should note that breaching 1.2365 will stop the negative scenario and lead the price to start recovery attempts on the intraday and short term basis.
The expected trading range for today is between 1.2290 support and 1.2420 resistance.
The expected trend for today: Bearish
The USDJPY is forced to decline – Analysis - 22-10-2021
The USDJPY pair broke 114.10 level strongly and declined to head towards potential test to the bullish channel’s support line around 113.40, making the bearish bias suggested for the upcoming sessions, organized inside the intraday bearish channel that appears on the chart.
On the other hand, we should note that breaching 114.10 will provide good positive motive that supports the chances of resuming the main bullish trend without the next to decline.
The expected trading range for today is between 113.40 support and 114.50 resistance
The expected trend for today: Bearish
The GBPUSD under the negative pressure - Analysis - 22-10-2021
The GBPUSD pair ended yesterday below 1.3795, which leads the price to achieve expected decline in the upcoming sessions, targeting visiting 1.3720 mainly, waiting for bullish rebound to resume the main bullish track again after testing the mentioned level.
On the other hand, we should note that breaching 1.3795 and holding above it will reactivate the positive scenario that its next main target located at 1.3910.
The expected trading range for today is between 1.3700 support and 1.3880 resistance.
The expected trend for today: Bearish
The EURUSD returns to test the support – Analysis - 22-10-2021
The EURUSD pair trades at the key support 1.1615 and still above it until now, as the EMA50 meets this level to add more strength to it, while stochastic shows oversold signals now.
Therefore, we believe that the chances valid to resume the bullish trend that its targets begin by breaching 1.1670 to open the way to head towards 1.1760, noting that breaking 1.1615 will press on the price to turn to recline and visit 1.1525 level on the near term basis.
The expected trading range for today is between 1.1550 support and 1.1710 resistance.
The expected trend for today: Bullish