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USDCAD breaks the support – Analysis - 19-10-2017
The USDCAD pair broke the key support 1.2470 and closed the daily candlestick below it, to activate the bearish trend scenario on the intraday and short term basis, and by taking a deeper look at the chart, we find that the price draws technical formation that its confirmation line located at 1.2432, which means that breaking this level will add more negative pressure and confirms rallying towards the bearish wave targets that start at 1.2300 and extend to reach the previously recorded top at 1.2061.
Therefore, the bearish trend will be expected for today, noting that rallying to breach 1.2550 will stop the negative overview and lead the price to return to the correctional bullish track again.
Expected trading range for today is between 1.2370 support and 1.2550 resistance.
Expected trend for today: Bearish
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USDJPY resumes rising – Analysis - 19-10-2017
The USDJPY pair rallied upwards clearly yesterday to breach 112.45 level and settles above it, which stops the recently suggested correctional bearish scenario and push the price to resume the short term bullish track, approaching from the first target at 113.44.
MoreGBPUSD keeps its positive stability – Analysis - 19-10-2017
The GBPUSD pair consolidated well above the bullish channel's support after attempting to break it yesterday, to keep the bullish trend scenario active until now, waiting to breach 1.3295 level to ease the mission of continuing the rise on the intraday and short term basis, as the main targets begin at 1.3418 and extend to reach the previously recorded top at 1.3618.
MoreEURUSD approaches from the resistance – Analysis - 19-10-2017
The EURUSD pair fluctuates around the EMA50 now, noticing that stochastic loses its positive momentum accompanied by the price approach from the key resistance that declines now to 1.1840, which keeps the chances valid to resume the recently suggested bearish bias.
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