The USDJPY achieves some gains – Analysis - 25-06-2020
The USDJPY pair provided clear positive trades yesterday after finding solid support at 106.44, to head towards potential test to the key resistance 107.68, noticing that stochastic loses its positive momentum and enters the overbought areas, which supports the chances of bouncing bearishly to resume the main bearish trend.
Therefore, we suggest the continuation of the overall bearish trend in the upcoming period unless breaching 107.68 and holding above it, noting that the targets of the bearish wave begin at 106.44 and extend to 105.20 after surpassing the previous level.
The expected trading range for today is between 106.44 support and 107.80 resistance
The expected trend for today: Bearish
The GBPUSD activates the negative scenario – Analysis - 25-06-2020
The GBPUSD pair provided strong negative trades yesterday after confirming breaking 1.2515, to activate the bearish trend scenario on the intraday basis, which heads towards the first expected negative target at 1.2304.
Therefore, we will be waiting for more decline today, supported by the negative pressure formed by the EMA50, noting that breaching 1.2515 will stop the current negative pressure and leads the price to recover again.
The expected trading range for today is between 1.2305 support and 1.2500 resistance.
The expected trend for today: Bearish
The EURUSD under the negative pressure – Analysis - 25-06-2020
The EURUSD pair broke 1.1270 level and closed the daily candlestick below it, which stops the recently suggested positive scenario and bring the price back to the correctional bearish track, on its way to visit 1.1175 initially.
Therefore, the bearish bias will be suggested for today unless the price managed to breach 1.1270 and hold above it, noting that breaking the targeted level will extend the bearish wave to reach 1.1100 as a next station.
The expected trading range for today is between 1.1150 support and 1.1320 resistance.
The expected trend for today: Bearish
End of day analysis for Crude oil 24-06-2020
Crude oil price succeeded to surpass our first waited target at 38.85 and settles below it, which supports the expectations of extending the bearish wave to target 36.10 as a next station, waiting for more decline in the upcoming sessions conditioned by the price stability below 40.41 and 40.85 levels.