The USDJPY approaches the target – Analysis - 27-11-2020
The USDJPY pair opens today’s trading with clear bearish bias to approach our first waited target at 103.65, and we suggest the continuation of the decline to break this level and open the way to head towards 103.00 as a next negative station.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that holding below 104.65 represents key condition to achieve the waited targets.
The expected trading range for today is between 103.20 support and 104.65 resistance
The expected trend for today: Bearish
The GBPUSD returns to rise - Analysis - 27-11-2020
The GBPUSD pair returns to rise after approaching 1.3315 level, starting today positively to move above the bullish channel’s resistance, which keeps the bullish trend scenario valid for the upcoming period, supported by the EMA50, besides the positive overlapping signal provided by stochastic, noting that our next station reaches 1.3482, while achieving it requires holding above 1.3315.
The expected trading range for today is between 1.3300 support and 1.3482 resistance.
The expected trend for today: Bullish
The EURUSD begins positively – Analysis - 27-11-2020
The EURUSD pair opens today’s trading with slight bullish bias that hints the price head to resume the expected bullish trend for the upcoming period, supported by stochastic and the EMA50 positivity, and we believe that the way is open to achieve our next main target at 1.2011, taking into consideration that the continuation of the bullish wave requires holding above 1.1855.
The expected trading range for today is between 1.1855 support and 1.2030 resistance.
The expected trend for today: Bullish
Midday update for Brent oil 26-11-2020
Brent oil price traded with strong negativity to break 48.20 and close the last four hours’ candlestick below it, which puts the price under more expected negative pressure for the rest of the day, on its way to visit 46.25 before turning back to resume the bullish trend again.
Therefore, we expect witnessing more decline in the upcoming sessions unless the price managed to surpass 48.20 level and hold above it again, which will reactivate the main positive scenario that its next target located at 50.70.
The expected trading range for today is between 47.00 support and 50.00 resistance.
The expected trend for today: Bearish temporarily