The USDJPY pair shows some bearish bias to head towards potential test to the bullish channel’s support line, as it finds difficulty to surpass the key resistance 137.70, and the EMA50 meets the mentioned support to add more strength to it, to suggest the continuation of the bullish trend for the upcoming period, waiting to breach the mentioned resistance to rally towards 139.25 as a next main target.
Stochastic attempts to overlap positively to support the continuation of the positive scenario, noting that breaking 136.15 will stop he expected rise and press on the price to turn to decline.
The expected trading range for today is between 136.30 support and 138.00 resistance
The expected trend for today: Bullish
The GBPUSD pair fluctuates around 1.0840 level since yesterday, and continues to move within the correctional bearish channel, waiting to resume the bearish bias that its next main target located at 1.1625, supported by stochastic loss to the positive momentum clearly.
By taking a deeper look at the chart, we find that the price completed forming double top pattern that hast negative targets that surpass the above mentioned level to reach 1.1370 areas, to suggest the domination of the bearish trend on the longer term basis.
Therefore, we are waiting for more decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, reminding you that it is important to hold below 1.1940 to achieve the waited targets.
The expected trading range for today is between 1.1750 support and 1.1900 resistance.
The expected trend for today: Bearish
The EURUSD pair didn’t show any strong move yesterday, to settle near 1.0515, noticing that stochastic begins to lose the positive momentum gradually, while the EMA50 forms negative pressure against the price.
Therefore, we will continue to suggest the bearish trend for the upcoming period, and the targets begin by breaking the mentioned level to confirm heading towards 1.0440 as a next negative station, noting that breaching 1.0635 will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 1.0440 support and 1.0600 resistance.
The expected trend for today: Bearish
Crude oil price trades negatively to break 77.05 level and settles below it, to fall under expected negative pressure in the upcoming sessions, on its way to test 75.64 as a next target, noting that surpassing this level will push the price to suffer more losses and head towards 73.60 areas on the near term basis, while consolidating above it will lead the price to start recovery attempts that target visiting 77.40 level initially.