The USDJPY begins bearish correction – Analysis - 22-07-2022
The USDJPY pair broke the bullish channel’s support line clearly and settled below it, to start expected bearish correction on the intraday basis, on its way to visit 136.40 as a first negative station.
Therefore, the bearish bias will be suggested for today supported by moving below the EMA50, noting that breaching 138.40 will stop the suggested bearish correction and push the price back to the main bullish track again.
The expected trading range for today is between 136.60 support and 138.10 resistance
The expected trend for today: Bearish
The GBPUSD settles above the support base - Analysis - 22-07-2022
The GBPUSD pair returned to hold above the support base formed at the breached resistance of the bearish channel after attempting to break it yesterday, to revive the expected bullish trend scenario on the intraday basis, waiting to head towards 1.2077 as a next positive target.
The EMA50 supports the suggested bullish wave for today, which will remain valid unless breaking 1.1940 and holding with a daily close below it.
The expected trading range for today is between 1.1900 support and 1.2077 resistance.
The expected trend for today: Bullish
The EURUSD begins positively – Analysis - 22-07-2022
The EURUSD pair ended yesterday above 1.0200 after the volatility that it witnessed after the ECB rate decision, which keeps the chances valid to continue the bullish trend scenario, which targets testing 1.0280 as a next station.
Therefore, we will keep our positive overview supported by the EMA50 that carries the price from below, taking into consideration that breaking 1.0200 followed by 1.0170 levels will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1.0130 support and 1.0290 resistance.
The expected trend for today: Bullish
Evening update for Gold 21-07-2022
Gold price rallied upwards to breach 1700.00 level and attack 1712.00 level, which urges caution from the upcoming trading, as holding with a daily close above the last level will lead the price to achieve additional gains and head towards 1765.00 areas on the near term basis, while consolidating below it will press on the price to resume the bearish trend that its next target located at 1650.00.