The USDJPY hits the first target – Analysis - 17-02-2021
The USDJPY pair rallied upwards strongly to succeed touching our first waited target at 106.00, and we suggest the continuation of the bullish bias to visit 106.44 that represents our next positive target.
Therefore, the positive scenario will remain valid for today, supported by the EMA50, noting that failing to surpass 106.00 – 106.20 levels will press on the price to rebound bearishly and head towards testing 105.20 areas initially before any new attempt to rise.
The expected trading range for today is between 105.40 support and 106.70 resistance
The expected trend for today: Bullish
The GBPUSD gathers the positive momentum - Analysis - 17-02-2021
The GBPUSD pair tested the intraday bullish channel’s support line that appears on the chart and settles above it, noticing that stochastic got rid of its negative momentum to reach the oversold areas, which supports the chances of resuming the main bullish trend, which gets continuous support by the EMA50.
Therefore, the bullish trend scenario will remain valid for the upcoming period, which targets 1.3965 followed by 1.4070 levels as next main stations, reminding you that it is important to hold above 1.3860 to continue the suggested rise.
The expected trading range for today is between 1.3800 support and 1.3990 resistance.
The expected trend for today: Bullish
The EURUSD under the negative pressure – Analysis - 17-02-2021
The EURUSD pair shows more bearish bias to surpass the EMA50 and heads towards testing the key support 1.2064, accompanied by stochastic entering the oversold areas, waiting to motivate the price to resume the expected bullish trend on the intraday and short-term basis, which targets 1.2173 initially.
Until now, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 1.2064, as breaking it will press on the price to return to the correctional bearish track that its next target located at 1.1976.
The expected trading range for today is between 1.2020 support and 1.2180 resistance.
The expected trend for today: Bullish
End of day analysis for Gold 16-02-2021
Gold price declined strongly to succeed touching our first waited target at 1800.00 and attempts to confirm breaking it, to support the expectations of continuing the bearish trend in the upcoming period, which its next target located at 1765.00, noting that holding below 1820.00 represents initial condition to achieve the suggested targets.