The USDJPY breaks the channel’s support – Analysis - 04-07-2022
The USDJPY pair trades below the bullish channel’s support line, reinforcing the expectations of continuing the bearish trend on the intraday basis, waiting to visit 134.30 as a first station, noting that breaking this level will extend the bearish wave to target 132.85 as a next negative station.
On the other hand, we should note that breaching 135.60 and holding above it will push the price back to the bullish track to head towards testing 136.70 initially.
The expected trading range for today is between 134.30 support and 135.60 resistance
The expected trend for today: Bearish
The USDCAD attacks the resistance again – Analysis - 04-07-2022
The USDCAD pair attempted to breach 1.2930 again but it kept its stability below it, which keeps our bearish overview valid until now, which targets visiting 1.2840 as a first station.
Breaking the mentioned level will extend the bearish wave to reach 1.2770 as a next negative target, while breaching 1.2930 represents the key to build new bullish wave that its initial targets reach 1.3075 areas.
The expected trading range for today is between 1.2810 support and 1.2950 resistance.
The expected trend for today: Bearish
The GBPUSD affected by the positive momentum - Analysis - 04-07-2022
The GBPUSD pair broke 1.2077 level clearly in the previous sessions and rallied below 1.2000 barrier, but it rebounds bullishly to trade around 1.2100 now, noticing that stochastic loses its positive momentum clearly, while the EMA50 forms continuous negative pressure on the price.
Therefore, we will continue to suggest the bearish trend for the upcoming period, which depends on the price stability below 1.2225, while our next target is located at 1.1933.
The expected trading range for today is between 1.2000 support and 1.2160 resistance.
The expected trend for today: Bearish
The EURUSD approaches the target – Analysis - 04-07-2022
The EURUSD pair traded with clear negativity in the previous sessions to approach our main waited target at 1.0355, and returns to rise to achieve slight gains now, affected by stochastic positivity, while the EMA50 keeps pressing negatively on the price.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaking the targeted level will extend the bearish wave to reach 1.0250 areas as a next main station, while the expected decline will remain valid unless the price rallied to breach 1.0550 and hold above it.
The expected trading range for today is between 1.0340 support and 1.0500 resistance.
The expected trend for today: Bearish