The USDJPY declines calmly – Analysis - 08-12-2020
The USDJPY pair begins to rebound bearishly after testing the main resistance line, which supports the continuation of our bearish overview, waiting to break 103.65 to reinforce the expectations of continuing the bearish wave on the intraday and short term basis, which its next target located at 103.00.
In general, we will continue to suggest the bearish trend for the upcoming period unless breaching 104.76 and holding above it.
The expected trading range for today is between 103.20 support and 104.50 resistance
The expected trend for today: Bearish
The GBPUSD under the negative pressure - Analysis - 08-12-2020
The GBPUSD pair provided strong negative trades yesterday to record 1.3224 level, and bounced bullishly to retest the broken support of the intraday bullish channel, as it kept its stability below it, which keeps the negative pressure valid for the upcoming period, waiting for new decline that targets 1.3110 areas mainly.
Therefore, the bearish bias will remain suggested on the intraday basis, noting that breaching 1.3410 will stop the expected decline and leads the price to regain the main bullish trend again.
The expected trading range for today is between 1.3250 support and 1.3430 resistance.
The expected trend for today: Bearish
The EURUSD within positive pattern – Analysis - 08-12-2020
The EURUSD pair‘s recent trades are confined within minor bearish channel that we believe it forms bullish flag pattern, which means that breaching 1.2160 will provide good positive motive that supports the chances of continuing the main bullish trend, which its next target located at 1.2300.
Therefore, we will keep our bullish overview supported by the EMA50 that continues to carry the price from below, taking into consideration that breaking 1.2040 will stop the suggested rise and press on the price for more intraday bearish correction.
The expected trading range for today is between 1.2040 support and 1.2220 resistance.
The expected trend for today: Bullish
End of day analysis for Crude oil 07-12-2020
Crude oil price bounced bullishly after testing the main bullish channel’s support line, to resume its main bullish track that its next main target located at 48.00, reminding you that holding above 45.35 represents key condition to achieve the suggested targets.