The USDJPY breaks the support – Analysis - 16-03-2023
The USDJPY pair faced clear negative pressure to break 133.30 and settles below it by today’s open, to head towards expected turn to decline, on its way to achieve negative targets that start at 131.60 and extend to 130.50.
The EMA50 forms negative pressure against the price to support the continuation of the expected bearish trend, while stochastic positivity might cause some sideways fluctuation before resuming the decline.
Note that breaching 133.30 and holding above it will reactivate the positive scenario and push the price towards 135.40 initially.
The expected trading range for today is between 131.90 support and 133.50 resistance
The expected trend for today: Bearish
The GBPUSD keeps its positive consolidation - Analysis - 16-03-2023
The GBPUSD pair attempted to break the minor support 1.2060 but it consolidates above it, to keep the chances valid to resume the bullish trend on the intraday basis, waiting to visit 1.2260 as a next main target.
Stochastic provides clear positive signals now to support the expectations to rise in the upcoming sessions, and breaching 1.2145 will ease the mission of achieving the waited positive targets.
We remind you that breaking 1.2060 will push the price to decline to test the most important support at 1.1940 before any new positive attempt.
The expected trading range for today is between 1.2000 support and 1.2160 resistance.
The expected trend for today: Bullish
The EURUSD faces solid support - 16-03-2023
The EURUSD pair’s strong decline stopped at 1.0515 yesterday, which formed solid support against the price, to rebound bullishly and start building bullish wave on the intraday basis, motivated by stochastic positivity.
Therefore, we expect to witness more bullish bias in the upcoming sessions, and the targets begin at 1.0640 and extend to 1.0745 after surpassing the previous level.
On the other hand, we should note that breaking 1.0515 will stop the expected rise and press on the price to suffer additional losses that reach 1.0440.
The expected trading range for today is between 1.0515 support and 1.0680 resistance.
The expected trend for today: Bullish
Evening update for Crude oil price 15-03-2023
Crude oil price suffered additional strong losses to surpass our extended target at 68.50 and reaches 66.00 areas now, and we expect the continuation of the decline to reach 65.00 followed by 64.30 levels as next negative stations, to keep the bearish trend suggested in the upcoming period conditioned by the price stability below 68.30 as a first protection factor to the continuation of the negative scenario.