The USDJPY breaches the resistance – Analysis - 05-02-2021
The USDJPY pair succeeded to breach 105.20 and hold above it, to support the expectations of continuing the bullish trend, and the way is open to achieve our next positive targets that reach 106.00 followed by 106.44.
The EMA50 continues to support the suggested bullish wave, which will remain valid and active conditioned by the price stability above 105.20.
The expected trading range for today is between 105.00 support and 106.30 resistance
The expected trend for today: Bullish
The GBPUSD shows mixed trades - Analysis - 05-02-2021
The GBPUSD pair bounced upwards strongly after attempting to break 1.3600 barrier, to retest the previously broken support of the bullish channel that turns into resistance that rises now to 1.3690, as it keeps its stability below it, accompanied by stochastic reach to the overbought areas now.
Therefore, these factors encourage us to suggest resuming the bearish trend in the upcoming sessions, which targets 1.3515 – 1.3495 levels, noting that holding below 1.3690 is important to achieve these targets.
The expected trading range for today is between 1.3570 support and 1.3740 resistance.
The expected trend for today: Bearish
The EURUSD surpasses the target – Analysis - 05-02-2021
The EURUSD pair closed yesterday below 1.1976 level, to confirm opening the way to extend the correctional bearish wave, which targets 1.1888 as a next target, noting that the EMA50 supports the continuation of the decline inside the correctional bearish channel that appears on the chart.
Therefore, we are waiting for more expected decline in the upcoming sessions, taking into consideration that breaching 1.1976 will stop the negative pressure and leads the price to start recovery attempts that target testing 1.2064 areas initially.
The expected trading range for today is between 1.1860 support and 1.2040 resistance.
The expected trend for today: Bearish
End of day analysis for Crude oil 04-02-2021
Crude oil price provided temporary negative trades and bounced bullishly to settle above 56.00 barrier, trading positively now to support the expectations of continuing the main bullish trend, which its next targets located at 57.35 followed by 59.70 levels, reminding you that it is important to hold above 55.20 to continue the expected rise.