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The USDJPY attempts to resume the bullish trend – Analysis - 21-08-2023
The USDJPY pair’s decline stopped at the EMA50 that formed good support against the price, to hint stopping the bearish correction and head to resume the main bullish trend, noticing that the recent trades are confined inside minor bearish channel that we believe it forms bullish flag pattern, which means that breaching 145.55 will activate the positive effect of this pattern and push the price to rise again.
Therefore, we suggest witnessing positive trades in the upcoming sessions, and the targets begin at 146.55 followed by 147.00, noting that failing to breach 145.55 will push the price to continue the bearish correction and head to test 144.55 as a next station.
The expected trading range for today is between 144.80 support and 146.30 resistance
The expected trend for today: Bullish
The GBPUSD within sideways track - Analysis - 21-08-2023
The GBPUSD pair shows sideways trades and hovers around the EMA50, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the negative trades to break 1.2725 and open the way to head towards our first target at 1.2625.
MoreThe EURUSD loses momentum - 21-08-2023
The EURUSD pair fluctuates around 1.0880 level, and attempts to consolidate below it, noticing that stochastic loses its positive momentum to approach the overbought areas, while the EMA50 continues to press negatively on the price.
MoreInvesco exhausts positive chances - Analysis - 18-08-2023
Invesco QQQ Trust's stock (QQQ) kept falling in the intraday levels with negative pressure from the 50-day SMA, coupled with negative signals from the RSI despite settling at oversold levels, while leaning on the main upward trend line in the short term, giving the stock the final chances of recovery.
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