The USDJPY faces negative pressure – Analysis - 03-11-2021
The USDJPY pair provided clear negative trades yesterday to approach the key support 113.40, and bounced bullishly to move above the breached resistance line that appears on the chart, to keep the chances valid to resume the main bullish trend, which its targets begin by testing 114.70 level.
Therefore, the bullish trend scenario will remain active for the upcoming period, noting that breaking 113.40 will stop the suggested rise and press on the price to achieve more bearish correction.
The expected trading range for today is between 113.40 support and 114.50 resistance
The expected trend for today: Overall Bullish
The GBPUSD hits the target - Analysis - 03-11-2021
The GBPUSD pair succeeded to achieve our waited target at 1.3605 and begins to rebound bullishly from there, to head towards potential test to 1.3665 level initially, noting that breaching this level will extend the bullish wave to reach 1.3720 as a next positive station.
Therefore, the bullish bias will be suggested for today unless breaking 1.3605 and holding below it, as breaking this level will press on the price to achieve additional decline that its next target reaches 1.3530.
The expected trading range for today is between 1.3560 support and 1.3720 resistance.
The expected trend for today: Bullish
The EURUSD attempts negatively – Analysis - 03-11-2021
The EURUSD pair settles around 1.1580 level, falling under the negative pressure that the EMA50 continues to form, waiting to resume the negative trading that its next main target located at 1.1525.
In general, we will continue to suggest the bearish trend for the upcoming period unless breaching 1.1615 and holding above it, noting that surpassing the mentioned target will extend the bearish wave to reach 1.1400 as a next main station.
The expected trading range for today is between 1.1500 support and 1.1640 resistance.
The expected trend for today: Bearish
Midday update for Wheat price 02-11-2021
Wheat price resumes its bullish rally to approach our second target at 820.00, expecting the continuation of the bullish trend domination in the upcoming sessions to head towards potential visit to 850.00 areas, waiting for more rise that gets continuous support by the EMA50, while its continuation requires holding above 782.20.
The expected trading range for today is between 790.00 support and 820.00 resistance.
The expected trend for today: Bullish