The USDJPY breaches the resistance – Analysis - 04-02-2022
The USDJPY pair provided positive trades yesterday to breach 114.65 and settles above it, to hint heading to recover again, but we notice that stochastic shows clear negative signals now, which might press on the price to decline and return to the correctional bearish track again.
Therefore, the contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to 114.65, noting that consolidating above it will push the price to 115.50 followed by 116.35 levels as initial positive stations, while breaking it will press on the price to decline towards 113.60 mainly.
The expected trading range for today is between 114.10 support and 115.50 resistance
The expected trend for today: Neutral
The GBPUSD hits the second target - Analysis - 04-02-2022
The GBPUSD pair managed to achieve our extended target at 1.3610 and attempts to breach it now, to hint heading to confirm regaining the main bullish trend, as we expect to achieve additional positive targets that reach 1.3685 followed by 1.3745.
Therefore, the bullish trend will remain valid and active for the upcoming period, noting that failing to breach 1.3610 will press on the price to rebound bearishly and test 1.3525 level initially.
The expected trading range for today is between 1.3525 support and 1.3710 resistance.
The expected trend for today: Bullish
The EURUSD surpasses the resistance – Analysis - 04-02-2022
The EURUSD pair confirmed breaching 1.1375 level after closing yesterday above it, to confirm the continuation of the bullish wave on the intraday basis, and the way is open the achieve the next positive target at 1.1560.
Therefore, we expect to witness more rise in the upcoming sessions, noting that breaching the mentioned level will extend the bullish wave to reach 1.1745 as a next main station, while holding above 1.1375 represents key condition to continue the suggested rise.
The expected trading range for today is between 1.1400 support and 1.1560 resistance.
The expected trend for today: Bullish
Evening update analysis for Crude oil price 03-02-2022
Crude oil price rallied upwards strongly to approach our first waited positive target at 90.00 and reinforce the expectations of continuing the main bullish trend, on its way to achieve more gains that extend to 92.55, noting that holding above 87.00 is important to achieve these targets.