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USDCAD is stable – Analysis - 16-01-2018
The USDCAD pair shows sideways and tight trading, settling below 1.2470 level, to keep the negative pressure valid on the intraday and short term basis, supported by the EMA50 that pushes the price downwards, waiting to test 1.2265 level as a next station.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions conditioned by holding below 1.2470, reminding you that breaking the targeted level will extend the bearish wave to reach 1.2061.
Expected trading range for today is between 1.2330 support and 1.2500 resistance.
Expected trend for today: Bearish
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USDJPY retests – Analysis - 16-01-2018
The USDJPY pair retests 111.00 level that was broken previously, affected by stochastic positivity that loses its bullish momentum clearly to approach the overbought areas, while the EMA50 forms negative pressure against the intraday trades.
MoreGBPUSD needs the positive momentum – Analysis - 16-01-2018
The GBPUSD pair settles within tight track after touching 1.3800 level, and the price might witness more sideways fluctuation until managing to get rid of its negative momentum and gain enough positive momentum to push trading to continue the main bullish trend.
MoreEURUSD within positive pattern – Analysis - 16-01-2018
The EURUSD pair shows some slight bearish bias affected by stochastic negativity, noticing that the recent trades are confined inside bullish flag that appears on the minor image, which means that breaching 1.2280 will activate the positive effect of this pattern and push the price to breach 1.2300 level and eases the mission of heading towards our next main target at 1.2565.
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