The USDJPY hits the first positive target – Analysis - 06-09-2023
The USDJPY pair rallied upwards strongly yesterday to succeed touching our first waited target at 147.55, and settles around it now, as it finds difficulty to surpass this level, affected by stochastic negativity, waiting to gather enough positive momentum to push the price to resume the positive trades and head towards 148.40 as a next positive target.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 146.55 will stop the positive scenario and push the price to turn to decline.
The expected trading range for today is between 146.70 support and 148.40 resistance
The expected trend for today: Bullish
The GBPUSD awaits more decline - Analysis - 06-09-2023
The GBPUSD pair settles around 1.2560 level, and the price needs to get negative motive that assist to resume the expected bearish trend for the upcoming period, which its next target located at 1.2505.
The bearish channel continues to organize the suggested bearish wave, which its targets extend to 1.2415 after surpassing the previous level, noting that the EMA50 supports the continuation of the expected bearish trend.
Therefore, the negative scenario will remain active on the intraday and short term basis, reminding you that it is important to hold below 1.2625 to achieve the suggested targets.
The expected trading range for today is between 1.2480 support and 1.2640 resistance.
The expected trend for today: Bearish
The EURUSD approaches the target - 06-09-2023
The EURUSD pair shows some slight bullish bias now, affected by stochastic positivity, and it might achieve some temporary intraday gains before turning back to decline again.
Until now, the main bearish trend scenario still active, organized inside the bearish channel that appears on the chart, supported by the negative pressure formed by the EMA50, noting that we are waiting to surpass 1.0700 to open the way to rally towards 1.0635.
On the other hand, we should note that breaching 1.0785 followed by 1.0825 levels will stop the bearish track and lead the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 1.0640 support and 1.0790 resistance.
The expected trend for today: Bearish
Evening update for Crude oil price 05-09-2023
Crude oil price rallied upwards strongly to succeed achieving our first waited target at 86.90 and settles above it, reinforcing the chances of continuing the expected bullish trend on the intraday and short term basis, opening the way to head towards 88.05 as a next main target, reminding you that the continuation of the bullish wave depends on the price stability above 84.90.