The USDJPY faces solid resistance – Analysis - 18-02-2021
The USDJPY pair shows negative trades after facing solid barrier formed by the bullish channel’s resistance that appears on the chart, to move below 106.00 now, noticing that stochastic got rid of its negative momentum to show clear oversold signals, waiting to motivate the price to resume the bullish wave that targets 106.44 mainly.
The EMA50 supports the positive overview, which will remain valid conditioned by the price stability above 105.65.
The expected trading range for today is between 105.40 support and 106.50 resistance
The expected trend for today: Bullish
The GBPUSD faces intraday negative pressure - Analysis - 18-02-2021
The GBPUSD pair broke the intraday bullish channel’s support line and settled below it, to fall under expected negative pressure on the intraday basis, targeting testing 1.3800 level initially, noting that breaking this level will force the price to continue the decline and head towards 1.3680 followed by .13585 areas as next negative stations.
Therefore, we expect witnessing more decline in the upcoming sessions unless the price managed to breach 1.3900 and hold above it.
The expected trading range for today is between 1.3750 support and 1.3900 resistance.
The expected trend for today: Bearish temporarily
The EURUSD breaks the support – Analysis - 18-02-2021
The EURUSD pair ended yesterday below 1.2064, to turn to the downside and head to visit 50% Fibonacci correction level at 1.1976 as a next station, noting that the continuation of the negative pressure and breaking the mentioned level will extend the bearish wave to reach 1.1888.
Therefore, the bearish bias will be suggested for today supported by the EMA50 that presses negatively on the price, noting that breaching 1.2064 will stop the current negative pressure and lead the price to regain the main bullish trend again.
The expected trading range for today is between 1.1950 support and 1.2100 resistance.
The expected trend for today: Bearish
Update: Gold price approaches the target
Gold price provided additional negative trades to approach our waited target at 1765.00, to keep the bearish trend active for the upcoming period, which depends on the price stability below 1820.00, noting that breaking the targeted level will extend the bearish wave and push the price to suffer more losses on the short term and medium term basis.