The USDJPY awaits more rise – Analysis - 08-02-2022
The USDJPY pair resumes its positive trades by today’s open and tests the resistance barrier formed at 115.45, and the price needs to surpass this level to ease the mission to rally towards our main waited target at 116.35.
Therefore, our bullish overview will remain valid and active unless breaking 114.65 and holding below it.
The expected trading range for today is between 114.80 support and 116.00 resistance
The expected trend for today: Bullish
The GBPUSD continues to fluctuate - Analysis - 08-02-2022
The GBPUSD pair hovers around 1.3525 level without confirming its situation according to this level, which makes us continue with our neutrality until we get clearer signal for the next trend.
We remind you that breaking the mentioned level will put the price under additional negative pressure that targets testing 1.3460 level as a next negative target, while consolidating above it will lead the price to recover again and achieve gains that start by visiting 1.3610 again.
The expected trading range for today is between 1.3460 support and 1.3610 resistance.
The expected trend for today: Neutral
The EURUSD within tight track – Analysis - 08-02-2022
The tight range dominates the EURUSD pair’s trades since yesterday, affected by stochastic negativity that hinders the mission to rise.
Therefore, the bullish trend scenario will remain valid as it is without any change for the upcoming period, depending on the price stability above 1.1375, noting that we are waiting to visit 1.1560 as a next main target.
The expected trading range for today is between 1.1375 support and 1.1520 resistance.
The expected trend for today: Bullish
Midday update for Brent oil 07-02-2022
Brent oil price shows bearish bias to press on 92.00 level and settles below it, to head towards expected decline for the rest of the day, waiting to visit the bullish channel’s support line at 90.35 before turning back to resume the bullish trend again.
Therefore, we expect to witness more bearish bias on the intraday basis unless breaching 92.00 and holding above it again.
The expected trading range for today is between 91.00 support and 93.00 resistance.
The expected trend for today: Bearish for the rest of the day