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USDCAD draws positive formation – Analysis - 20-11-2017
The USDCAD pair leaned on the bullish trend line that appears on chart and bounced bullishly after the recent attempts to break the key support 1.2723, which hints the price head to achieve more bullish correction on the short term basis, especially that there is signs of bullish pattern that appears on the chart, its confirmation line located at 1.2820, thus, breaching this level will confirm rallying upwards to surpass 1.2927 barrier and achieve more gains.
Now, we prefer staying aside temporarily in order to monitor the price behavior according to the key levels represented by 1.2723 support and 1.2820 resistance, noting that breaking the mentioned support will reactivate the bearish trend scenario that its next target located at 1.2470.
Expected trading range for today is between 1.2700 support and 1.2880 resistance.
Expected trend for today: Depends on the above mentioned levels
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USDJPY touches the second target – Analysis - 20-11-2017
The USDJPY pair resumed its negative trading after confirming breaking 23.6% Fibonacci correction level at 113.00, to reach the second correctional level at 111.90, which represents 38.2% Fibonacci correction level for the rise measured from 107.31 to 114.73, which urges caution from the upcoming trading, as breaking this level will push the price to achieve more decline that targets 111.00 areas direct.
MoreGBPUSD awaits the breach – Analysis - 20-11-2017
The GBPUSD pair continues to fluctuate around 50% Fibonacci correction level at 1.3196, at the middle of the sideways range that appears on chart, and as long as the price is between 1.3096 support and 1.3295 resistance, the sideways trades will remain dominant on the intraday basis, waiting to surpass one of the mentioned levels to detect the next targets clearly.
MoreEURUSD retests – Analysis - 20-11-2017
The EURUSD pair retests the previously breached resistance of the bearish channel that appears on chart, which turns into key support now at 1.1715, noticing that the EMA50 meets this level to add more strength to it and protect the price from suffering more losses.
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