The USDJPY attempts positively – Analysis - 25-03-2021
The USDJPY pair trades with clear positivity after surpassing the EMA50, to head towards testing the key resistance 109.22, which urges caution from the upcoming trading, as continuing the rise and surpassing this level will stop the recently suggested negative scenario and lead the price to resume the main bullish trend again, to head towards achieve gains that start by testing 110.30 areas on the near term basis.
Therefore, we prefer staying aside until the price confirms its next destination clearly, through breaching the mentioned resistance or breaking 108.55 support.
The expected trading range for today is between 108.30 support and 109.60 resistance
The expected trend for today: Neutral
The GBPUSD keeps its negative stability - Analysis - 25-03-2021
The GBPUSD pair fluctuates around 1.3700 level since yesterday, and continues to move inside the intraday bearish channel that appears on the chart, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that has negative targets that surpass 1.3580 to reach 1.3350.
Therefore, the bearish trend will remain suggested for the upcoming period supported by the EMA50, noting that the continuation of the bearish wave conditions holding below 1.3795.
The expected trading range for today is between 1.3600 support and 1.3780 resistance.
The expected trend for today: Bearish
The EURUSD approaches the target – Analysis - 25-03-2021
The EURUSD pair continued to decline yesterday to approach our waited target at 1.1780, falling under continuous negative pressure formed by the EMA50, which support the chances of breaking the mentioned level to head towards 1.1700 that represents the next negative target.
Therefore, we expect the continuation of the bearish bias domination in the upcoming sessions, taking into consideration that breaching 1.1888 is considered as an initial key to turn to rise and regain the main bullish trend again.
The expected trading range for today is between 1.1730 support and 1.1880 resistance.
The expected trend for today: Bearish
Update: Crude oil price achieves more gains
Crude oil price continued the bullish rally to surpass 59.85 level strongly and head to achieve more expected gains in the upcoming period, noting that breaching 61.55 will lead the price to continue the rise and head towards 63.95 as a next positive station, while breaking 59.85 represents negative factor that will press on the price to return to the correctional bearish track again.