The USDJPY continues to rise – Analysis - 09-11-2023
The USDJPY pair shows more bullish bias to test 151.00 barrier, reinforcing the expectations of continuing the bullish trend, which its next target located at 151.70.
Stochastic current negativity might cause some sideways fluctuation before resuming the positive trades, taking into consideration that breaking 150.35 will stop the expected decline and push the price to turn to decline.
The expected trading range for today is between 150.20 support and 151.70 resistance
The expected trend for today: Bullish
The GBPUSD loses momentum - Analysis - 09-11-2023
The GBPUSD pair is testing the key resistance 1.2300 and keeps its stability below it, noticing that stochastic reaches the overbought areas now, waiting to motivate the price to resume the expected bearish trend on the intraday basis, which targets 1.2240 followed by 1.2170 levels as next main stations.
Holding below 1.2300 is important to continue the expected decline, as breaching it will push the price to achieve new bullish correction that its next main target reaches 1.2460.
The expected trading range for today is between 1.2200 support and 1.2350 resistance.
The expected trend for today: Bearish
The EURUSD is recovering - 09-11-2023
The EURUSD pair bounced bullishly after approaching 1.0640 level, as the EMA50 formed good support that pushes the price to achieve some gains, and we expect to test 1.0760 in the upcoming sessions, noticing that stochastic lost its positive momentum and it might force the price to decline again.
Now, we expect the price to move within sideways range that its lines represented by 1.0640 support and 1.0760 resistance, and it needs to surpass one of these levels to detect its next destination clearly, noting that breaching this resistance will push the price to achieve additional bullish correction that its next target reaches 1.0860, while breaking the support represents the key to resume the main bearish trend to head towards 1.0450 areas as a next main station.
The expected trading range for today is between 1.0630 support and 1.0795 resistance.
The expected trend for today: Sideways
Evening update for Crude oil price 08-11-2023
Crude oil price managed to break 77.86 and settles below it, reinforcing the expectations of the continuation the bearish trend in the upcoming sessions, organized inside the bearish channel that appears on the chart, reminding you that our next target is located at 75.50, while holding below 77.86 is required to continue the expected decline.