The USDJPY achieves additional positive targets – Analysis - 29-03-2022
The USDJPY pair succeeded to achieve our waited target at 124.00 and breached it strongly to reach 125.00 barrier, noticing that the price bounced downwards clearly to start bearish correction for the rise that started from 114.65 areas, as it forms double top pattern now that supports the chances of achieving more decline in the upcoming sessions, expecting to attack 122.62 to open the way to visit 121.10 as a next correctional target.
Therefore, the bearish bias will be expected for today, noting that breaching 124.30 will stop the expected decline and lead the price to resume the bullish track again.
The expected trading range for today is between 122.50 support and 123.80 resistance
The expected trend for today: Bearish
The GBPUSD activates the negative scenario - Analysis - 29-03-2022
The GBPUSD pair broke 1.3145 level strongly and rallied bearishly to confirm activating the negative scenario for the upcoming period, opening the way to head towards 1.3000 as a next main target.
Therefore, the bearish bias will be suggested on the intraday basis, supported by moving below the EMA50, noting that breaching 1.3145 will stop the current negative pressure and lead the price to achieve new bullish correction.
The expected trading range for today is between 1.3000 support and 1.3150 resistance.
The expected trend for today: Bearish
The EURUSD loses momentum – Analysis - 29-03-2022
The EURUSD pair settles below the broken intraday bullish trend line, moving within intraday bearish channel that supports the chances of continuing the bearish trend, noticing that stochastic loses its positive momentum to reinforce the expectations of resuming the negative trades.
Therefore, we will keep our bearish overview as long as 1.1005 level remains intact, reminding you that our targets begin at 1.0920 and extend to 1.0775 after breaking the previous level.
The expected trading range for today is between 1.0900 support and 1.1050 resistance.
The expected trend for today: Bearish
Evening update for Crude oil price 28-03-2022
Crude oil price declined strongly to succeed touching our waited target at 104.60 and found solid support there, to rebound bullishly on its way for potential test to 109.14 level, and we need to monitor the price according to these levels, as breaching one of them is required to determine the next trend clearly.