The USDJPY continues to rise – Analysis - 29-01-2021
The USDJPY pair opens today’s trading with clear positivity to move away from 104.00 barrier, reinforcing the expectations of continuing the bullish trend, and the way is open to visit 105.20 that represents our next station.
The EMA50 continues to support the suggested bullish wave, which will remain valid conditioned by the price stability above 103.65.
The expected trading range for today is between 104.00 support and 105.20 resistance
The expected trend for today: Bullish
The GBPUSD within sideways track - Analysis - 29-01-2021
The GBPUSD pair could not manage to break 1.3645 support line, to trade with clear positivity and test 1.3715 key resistance, noticing that the price begins today to decline from this resistance, to keep the price between the mentioned levels, which makes us continue with our neutrality until the price confirms breaching one of these levels to detect the next targets clearly.
We remind you that breaking the mentioned support will press on the price to turn to decline and achieve negative targets that start at 1.3520 and extend to 1.3450, while breaching the resistance represents the key to rally to resume the main bullish trend that its next target located at 1.3815.
The expected trading range for today is between 1.3600 support and 1.3815 resistance.
The expected trend for today: Neutral
The EURUSD resumes the decline – Analysis - 29-01-2021
The EURUSD pair tested the EMA50 and bounced bearishly from there, to start today with additional bearish bias that pushes the price to approach 1.2064 level again, motivated by stochastic negativity, waiting to break the mentioned level to confirm opening the way visit 1.1976.
In general, the bearish trend scenario will remain suggested for the upcoming period unless breaching 1.2173 and holding above it.
The expected trading range for today is between 1.2000 support and 1.2170 resistance.
The expected trend for today: Bearish
Update: Gold price shows mixed trades
Gold price attempted to breach 1850.80 level and bounced downwards quickly to settle below it, which keeps our bearish overview valid for the upcoming period, which targets 1820.00 followed by 1800.00 levels as next main stations, reminding you that it is important to hold below 1850.80 to continue the expected decline.