The USDJPY achieves intraday gains – Analysis - 07-01-2021
The USDJPY pair traded with clear positivity yesterday and attempted to surpass the EMA50, but it returns to decline and settles below it, accompanied by witnessing clear negative signals through stochastic, waiting to motivate the price to resume the main bearish trend, which targets 102.50 followed by 102.15 levels as next main stations.
Therefore, we will keep our bearish overview unless the price rallied to bread 103.65 level and hold above it.
The expected trading range for today is between 102.50 support and 103.65 resistance
The expected trend for today: Bearish
The GBPUSD needs a positive motive - Analysis - 07-01-2021
The GBPUSD pair provided negative trades yesterday but we notice that the EMA50 continues to protect the positive scenario and prevents the price from achieving more decline, which keeps the chances valid to continue the main bullish trend, which targets 1.3775 level as a next main station.
It is important to note that breaking 1.3550 will complete forming bearish pattern that has the ability to push the price to decline towards 1.3400 areas direct before any new attempt to rise.
The expected trading range for today is between 1.3530 support and 1.3700 resistance.
The expected trend for today: Bullish
The EURUSD keeps its positive stability – Analysis - 07-01-2021
The EURUSD pair returned to rise after the negative pressure that it witnessed in the previous sessions, as it kept its stability above the support base formed above 1.2300 after breaching it previously, to keep the bullish trend scenario valid and active for the upcoming period, which targets 1.2475 areas as a next main station.
On the other hand, we should note that breaking 1.2300 followed by 1.2235 levels will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1.2240 support and 1.2430 resistance.
The expected trend for today: Bullish
Update: Gold price suffers sharp losses
Gold price bounced downwards strongly to break 1928.00 level and tests the intraday bullish channel’s support line that appears on the chart, which urges caution from the upcoming trading, as continuing the decline and breaking 1900.00 will push the price to suffer more losses and head towards 1838.00 areas on the near term basis, while the price needs to surpass 1928.00 to reactivate the bullish trend scenario that its next target located at 1970.00.