The USDJPY hits the first target – Analysis - 22-09-2022
The USDJPY pair rallied upwards by today’s open to succeed achieving our first main waited target 145.00, and we suggest the continuation of the bullish trend domination for the upcoming period to head towards achieving more gains on the longer term basis, noting that the next targets reach 146.00 followed by 146.90 levels.
Therefore, we are waiting for more rise today, noting that the continuation of the bullish wave requires holding above 143.55.
The expected trading range for today is between 144.00 support and 145.80 resistance
The expected trend for today: Bullish
The GBPUSD returns to the bearish channel - Analysis - 22-09-2022
The GBPUSD pair provided clear negative trades yesterday to surpass 1.1300 level and confirms the return to the main bearish channel, and succeeded to touch our extended target at 1.1220 by today’s open, to head towards achieving more expected decline in the upcoming period, paving the way to head towards 1.1100 as a next main target.
Therefore, the bearish trend scenario will remain suggested on the intraday and short term basis unless breaching 1.1295 and holding above it, noting that the pair might witness high volatility today at the time of releasing the rate decision by the BOE, as the expectations show rate hike to 2.25%, which might push the price to attempt to recover.
The expected trading range for today is between 1.1140 support and 1.1320 resistance.
The expected trend for today: Bearish
The EURUSD continues to achieve the negative targets – Analysis - 22-09-2022
The EURUSD pair continues to decline, and reaches 0.9800 areas now, to support the continuation of the bearish trend on the intraday and short term basis, noting that surpassing the mentioned level will push the price to 0.9700 as a next negative station.
The EMA50 keeps supporting the suggested bearish wave, noting that breaching 0.9880 might push the price to achieve temporary intraday bullish correction before turning back to decline again.
The expected trading range for today is between 0.9730 support and 0.9900 resistance.
The expected trend for today: Bearish
Update: Gold price achieves strong gains
Gold price rallies upwards strongly to attack 1680.00 level and attempts to hold above it, which urges caution from the upcoming trading, as confirming the breach will stop the recently suggested negative scenario and lead the price to start bullish wave on the intraday basis to head towards visiting 1700.00 – 1710.00 areas initially.