The USDJPY attempts to recover – Analysis - 25-01-2021
The USDJPY pair provided extra positive trading to hit the most important resistance at 103.95, noticing that the price keeps its stability below this level until now, while stochastic lost its positive momentum to enter the overbought levels, which supports the chances for bouncing lower to resume the main bearish trend that depends on the stability below the mentioned resistance.
Note that breaking 103.65 is required for reinforcing the expectations for moving lower towards our next main negative target at 102.50.
The expected trading range for today is between 103.00 support and 104.40 resistance
The expected trend for today: Bearish
The GBPUSD tests the key support - Analysis - 25-01-2021
The GBPUSD pair continued the decline to test the critical support at 1.3645, noticing that the price bounced higher from there, supported by stochastic positivity, waiting for more of the upside moves to surpass 1.3700 barrier, and opens the way towards 1.3815 that represents our next station.
Therefore, we will keep preferring the bullish trend in the upcoming period, conditioned by holding above 1.3645 and the most important above 1.3580.
The expected trading range for today is between 1.3600 support and 1.3780 resistance.
The expected trend for today: Bullish
The EURUSD completes positive pattern – Analysis - 25-01-2021
The EURUSD pair completed forming a double bottom pattern that its lines appear in the above image, noticing that stochastic gains the positive momentum gradually, waiting for motivating the price to continue the upside move, keeping the bullish trend scenario valid and active in the upcoming period, supported by the EMA50.
Our next main target reaches to 1.2300, reminding you that holding above 1.2145 is important for the continuation of the expected rise.
The expected trading range for today is between 1.2100 support and 1.2270 resistance.
The expected trend for today: Bullish
Update: Crude oil faces solid support
Crude oil price found solid support at 51.70, to rebound bullishly and approaches testing the key resistance 52.80, which urges caution from the upcoming trading, as breaching the mentioned resistance will push the price to regain the main bullish trend again, while breaking the support represents negative factor that will press on the price to achieve negative targets that start at 49.70.