The USDJPY breaks the support – Analysis - 02-12-2021
The USDJPY pair broke 113.07 level again and closed the daily candlestick below it, to head towards achieving more expected bearish correction on the intraday basis, targeting testing 112.30 level as a next station.
Therefore, the bearish bias will be suggested for the upcoming period, taking into consideration that breaching 113.07 and holding above it will stop the expected negative pressure and push the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 112.30 support and 113.60 resistance
The expected trend for today: Bearish
The GBPUSD declines again - Analysis - 02-12-2021
The GBPUSD pair bounced bearishly after testing 1.3355 level, supported by the negative pressure formed by the EMA50, waiting for more decline to head towards our main expected target at 1.3160.
In general, we will continue to suggest the bearish trend on the intraday and short term basis, organized inside the bearish channel that appears on the chart, unless the price rallied to breach 1.3355 followed by 1.3415 levels and hold above them.
The expected trading range for today is between 1.3190 support and 1.3355 resistance.
The expected trend for today: Bearish
The EURUSD draws positive pattern – Analysis - 02-12-2021
The EURUSD pair shows sideways trades since yesterday, keeping its stability below 1.1375, and by taking a deeper look at the chart, we find that the price draws inverted head and shoulders’ pattern that might assist to turn the trend to the upside and achieve gains that reach 1.1560 on the near term basis.
Therefore, we prefer to stay aside until we get a batter signal for the trend, noting that breaching 1.1375 will activate the positive effect of the mentioned pattern and lead the price to visit 1.1445 followed by 1.1560 levels mainly, while breaking 1.1260 will bring the price back to the bearish channel and resume the bearish track that its next main target located at 1.1145.
The expected trading range for today is between 1.1250 support and 1.1400 resistance.
The expected trend for today: Neutral
Caterpillar declines in volatile session - Analysis - 01-12-2021
Caterpillar's stock (CAT) tumbled 1.31% in the last volatile session, settling at 193.35, amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the pivotal support of 187.00, provided it settles below 200.00.
Expected trend for today: Bearish