|
The USDJPY gathers momentum – Analysis - 24-05-2023
The USDJPY pair shows sideways trades since yesterday, settling around 138.50, noticing that stochastic attempts to get rid of its negative momentum and gain the positive momentum on the intraday time frames, waiting to motivate the price to resume the bullish wave that its next main target located at 140.00.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 137.70 will put the price under correctional bearish pressure on the intraday basis to head towards potential visit to 135.50 areas before any new attempt to rise.
The expected trading range for today is between 137.70 support and 139.40 resistance
The expected trend for today: Bullish
Thanks for your feedback.
The GBPUSD loses momentum - Analysis - 24-05-2023
The GBPUSD pair shows some bullish bias to retest the broken neckline of head and shoulders’ pattern, accompanied by stochastic loss to the positive momentum clearly, while the EMA50 forms continuous negative pressure against the price.
MoreThe EURUSD confirms the break - 24-05-2023
The EURUSD pair ended yesterday below 1.0795 level, falling under continuous negative pressure coming by the EMA50, to support the continuation of the bearish wave within the bearish channel that appears on the chart, and the way is open to visit 1.0730 that represents our next target, reminding you that breaking this level will push the price to 1.0650 as a next main station.
MoreEvening update for Crude oil price 23-05-2023
Crude oil price rallied upwards strongly to breach 72.70 resistance and reach the first expected positive target at 73.80, to hint heading to activate the positive scenario in the upcoming period, noting that the price is testing the support base formed at the breached resistance, which urges caution from the upcoming trading, as consolidating above it will push the price to achieve additional gains that surpass 73.80 to reach 76.10, while trading below it will put the price within the symmetrical triangle again.
More