The USDJPY begins positively – Analysis - 10-03-2023
The USDJPY pair faced negative pressure yesterday to attack the bullish channel’s support line, but it begins today with clear positivity to trade above this support, which supports the chances of resuming the expected bullish trend for the upcoming period, which its targets begin by testing 137.70 level.
The EMA50 supports the price from below to reinforce the chances of continuing the expected bullish trend, besides stochastic that provides clear positive signals now.
On the other hand, we should note that breaking 136.30 will stop the suggested rise and press on the price to decline.
The expected trading range for today is between 135.90 support and 137.50 resistance
The expected trend for today: Bullish
The GBPUSD tests the resistance - Analysis - 10-03-2023
The GBPUSD pair continued to rise to test 1.1940 resistance line, keeping its stability below it, as the EMA50 meets this level to add more strength to it, waiting to resume the correctional bearish wave that its next main target located at 1.1625.
Stochastic shows clear negative signals now, waiting to motivate the price to decline in the upcoming sessions, organized inside the bearish channel that appears on the chart.
Therefore, our bearish overview will remain valid and active, noting that breaching 1.1940 followed by 1.2020 levels will stop the expected decline and lead the price to recover.
The expected trading range for today is between 1.1820 support and 1.1990 resistance.
The expected trend for today: Bearish
The EURUSD loses momentum - 10-03-2023
The EURUSD pair provided positive trades yesterday, and stopped at the EMA50 that forms good resistance against the price, accompanied by stochastic loss to the positive momentum and reaching the overbought areas.
These factors support the chances of resuming the expected bearish trend on the intraday basis, waiting to test 1.0515 initially, reminding you that breaking this level will push the price to 1.0440 as a next station.
Therefore, the bearish trend scenario will remain valid conditioned by the price stability below 1.0645.
The expected trading range for today is between 1.0490 support and 1.0650 resistance.
The expected trend for today: Bearish
Evening update for Crude oil price 09-03-2023
Crude oil price traded with strong positivity to attack the key resistance 77.40, but it declines again to settle below the intraday bullish trend line, to keep the bearish trend scenario active for the upcoming period, which depends on the price stability below the mentioned resistance, reminding you that our next target is located at 75.64.