The USDJPY breaches the resistance – Analysis - 08-01-2021
The USDJPY pair rallied upwards strongly yesterday to breach 103.65 level and settles above it, which leads the price to turn to rise on the intraday basis to head towards testing 104.20 level initially, which breaching it represents the key to head towards 105.20 as a next main station.
Therefore, the bullish bias will be suggested for the upcoming period unless breaking 103.65 and holding below it again.
The expected trading range for today is between 103.30 support and 104.50 resistance
The expected trend for today: Bullish
The GBPUSD under the negative pressure - Analysis - 08-01-2021
The GBPUSD pair faced clear negative pressure yesterday to test the key support 1.3550, noticing that the price still above this level until now, accompanied by witnessing positive signals through stochastic, waiting to motivate the price to resume the main bullish trend, which its next main target located at 1.3775.
On the other hand, we should note that breaking 1.3550 will complete forming negative pattern that its signs appear on the chart, which has negative targets that reach 1.3405 before any new attempt to rise.
The expected trading range for today is between 1.3500 support and 1.3650 resistance.
The expected trend for today: Bullish
The EURUSD tests the channel’s support – Analysis - 08-01-2021
The EURUSD pair continued to decline yesterday to test the bullish channel’s support line that appears on the chart, as it kept its stability above this support and begins today with bullish bias in attempt to move away from this level, which keeps the overall bullish trend scenario active, waiting to breach 1.2300 to reinforce the chances of heading towards 1.2475 that represents our next target.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 1.2245 will stop the suggested rise and press on the price to start correctional bearish wave on the intraday basis.
The expected trading range for today is between 1.2200 support and 1.2350 resistance.
The expected trend for today: Bullish
Baidu seeks a bottom to bolster it - Analysis - 07-01-2021
Baidu's stock skidded in the last session amid negative signals from the RSI after reaching overbought levels in an attempt to shake off negative pressure, while seeking a bottom to bolster it higher, amid the dominance of the main upward medium-term trend, with positive pressure from the 50-day SMA.
Therefore we expect the stock to return higher, targeting the resistance of 220.00, provided the support of 186.50 holds on.
Expected trend for today: Bullish