The USDJPY declines calmly – Analysis - 24-03-2021
The USDJPY pair shows calm negative trades to move away gradually from the EMA50, to keep the bearish trend scenario valid and active for the upcoming period, reminding you that we are waiting to visit 107.70 as a first station, reminding you that holding below 109.22 is important to continue the suggested bearish trend.
The expected trading range for today is between 107.90 support and 109.00 resistance
The expected trend for today: Bearish
The GBPUSD breaks the support - Analysis - 24-03-2021
The GBPUSD pair broke the main bullish channel’s support line and settled below it, to confirm opening the way to start bearish correction for the bullish wave measured from 1.1447 to 1.4238, on its way to visit the first correctional level at 1.3580.
Therefore, we expect witnessing more decline in the upcoming sessions, organized inside the intraday bearish channel that appears on the chart, noting that the continuation of the bearish wave conditions holding below 1.3795.
The expected trading range for today is between 1.3630 support and 1.3800 resistance.
The expected trend for today: Bearish
The EURUSD confirms the break – Analysis - 24-03-2021
The EURUSD pair confirmed breaking 1.1888 level after closing the daily candlestick below it, to reinforce the expectations of continuing the bearish trend, reminding you that our next target is located at 1.1780, noticing that the EMA50 continues to press negatively on the price to support the chances of continuing the decline in the upcoming sessions.
On the other hand, we should note that breaching 1.1888 will push the price to start recovery attempts that target testing the key resistance 1.1976 initially before determining the next destination clearly.
The expected trading range for today is between 1.1770 support and 1.1900 resistance.
The expected trend for today: Bearish
Update: Crude oil price surpasses the target
Crude oil price achieved our waited target at 58.00 and surpassed it to settle below it, reinforcing the chances of extending the bearish wave on the intraday and short term basis, on its way to visit 54.83 as a next main station, noting that holding below 59.20 is important to continue the expected decline.