The USDJPY pair hovers around 122.62 level, waiting to get positive momentum that assist to push the price to confirm breaching this level followed by rallying towards our positive targets that start at 123.40 then 125.00.
Stochastic negativity interprets the reasons of the current sideways fluctuation, noting that failing to breach 122.62 will put the price under negative pressure that targets testing 121.10 as a first negative station.
The expected trading range for today is between 122.10 support and 123.20 resistance
The expected trend for today: Bullish
The GBPUSD pair shows negative trades to move away from 1.3145 level, reinforcing the expectations of continuing the bearish trend, supported by the negative pressure formed by the EMA50, waiting to visit 1.3000 as a next main target.
Holding below 1.3145 is important to continue the expected decline, as breaching it will lead the price to return to the correctional bullish trend again.
The expected trading range for today is between 1.3020 support and 1.3160 resistance.
The expected trend for today: Bearish
The EURUSD pair settles below the EMA50, showing slight bearish bias to gradually approach the bullish channel’s support line at 1.0995, waiting for more decline in the upcoming sessions, noting that breaking the mentioned level will extend the bearish wave to reach 1.0900 direct.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions conditioned by the price stability below 1.1055, as breaching this level might push the price to test 1.1145 areas again before determining the next destination clearly.
The expected trading range for today is between 1.0950 support and 1.1100 resistance.
The expected trend for today: Bearish
Gold price achieved initial break to 1925.35 and attempts to hold below it, to hint the attempt to activate the negative scenario again, but we need to get a daily close below this level to confirm the continuation of the bearish bias in the upcoming sessions, which its next target located at 1890.00.