The USDJPY is stable – Analysis - 02-02-2021
The USDJPY pair settles around 105.00 level, noticing that the price completed forming double bottom pattern that supports the chances of continuing the bullish trend within the intraday bullish channel that appears on the chart, to hint that the way is open to surpass our waited target at 105.20 and extend the bullish wave towards 106.00 followed by 106.44.
Therefore, the bullish trend scenario will remain valid and active on the intraday and short term basis conditioned by the price stability above 104.40.
The expected trading range for today is between 104.40 support and 105.70 resistance
The expected trend for today: Bullish
The GBPUSD tests the channel’s support - Analysis - 02-02-2021
The GBPUSD pair continued to decline yesterday to reach the bullish channel’s support line, and begins to rebound bullishly from there, motivated by stochastic current positivity, waiting for more rise to resume the expected bullish trend on the intraday and short term basis, which its next target located at 1.3815.
Holding above 1.3650 is important to continue the expected rise, as breaking it will press on the price to start correctional bearish wave before turning back to rise again.
The expected trading range for today is between 1.3630 support and 1.3780 resistance.
The expected trend for today: Bullish
The EURUSD touches the first target – Analysis - 02-02-2021
The EURUSD pair succeeded to touch our first target at 1.2064 and attempts to break it, but it faced solid support there to force the price to rebound bullishly and test a minor resistance formed at 1.2085, affected by stochastic positivity, waiting to get negative motive that supports the chances of bouncing bearishly to break the first level and open the way to extend the bearish wave towards 1.1976.
Therefore, we will keep our bearish overview for the upcoming period that gets continuous support by the EMA50 unless the price rallied to breach 1.2173 level and hold above it.
The expected trading range for today is between 1.2000 support and 1.2150 resistance.
The expected trend for today: Bearish
Baidu returns lower - Analysis - 01-02-2021
Baidu's stock returned lower with a 4.02% tumble as it seeks a bottom to bolster it higher anew, amid the dominance of the main upward medium-term trend, with positive pressure from the 50-day SMA, while the RSI reached oversold levels, hinting at positive divergence.
Therefore we expect the stock to return higher, targeting the important resistance of 263.30.
Expected trend for today: Bullish