The USDJPY breaches the resistance – Analysis - 10-12-2020
The USDJPY pair surpassed the resistance line that appears on the chart and heads towards testing 104.76 areas now, to notice that the price moves within sideways track between the mentioned resistance and 103.65 support, which makes us suggest witnessing sideways trades in the upcoming sessions until managing to surpass one of the mentioned levels.
Note that breaching 104.76 resistance will push the price to achieve more gains that start by testing 105.20 and extend to 106.00, while breaking 103.65 support will press on the price to resume the main bearish track that its next target located at 103.00.
The expected trading range for today is between 103.65 support and 105.20 resistance
The expected trend for today: Sideways
The GBPUSD declines again - Analysis - 10-12-2020
The GBPUSD pair tested 1.3480 level yesterday and bounced downwards strongly from there, to settle below the EMA50, which keeps the bearish trend scenario valid and active for the upcoming period, which targets 1.3190 followed by 1.3110 levels as next negative stations.
Therefore, the negative scenario will remain suggested on the intraday basis, noting that breaching 1.3480 will stop the expected decline and push the price to resume the main bullish trend again.
The expected trading range for today is between 1.3260 support and 1.3460 resistance.
The expected trend for today: Bearish
The EURUSD attempts to recover – Analysis - 10-12-2020
The EURUSD pair traded with clear negativity yesterday to touch the intraday bearish channel’s support line that appears on the chart, noticing that the price started to rebound bullishly from there, to open today with more rise and hint heading to resume the main bullish trend, waiting to breach 1.2145 to reinforce the chances of rallying towards our next positive target at 1.2300.
Therefore, the bullish trend scenario will remain valid and active for the upcoming sessions unless breaking 1.2040 and holding below it.
The expected trading range for today is between 1.2040 support and 1.2200 resistance.
The expected trend for today: Bullish
Update: Crude oil price resumes the decline
Crude oil price bounced downwards strongly after testing 46.00 barrier, to start pressing on the EMA50, which supports the continuation of our bearish overview that depends on the price stability below 46.35, while its next main target located at 43.57.