The USDJPY loses momentum – Analysis - 09-12-2020
The USDJPY pair hovers around the EMA50, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the main bearish trend, which its targets begin by breaking 103.65 to confirm extending the bearish wave towards 103.00.
Holding below 104.30 is important to continue the expected decline, as breaching it will push the price to achieve intraday gains and test 104.76 and might extend to 105.20 areas before any new attempt to decline.
The expected trading range for today is between 103.40 support and 104.70 resistance
The expected trend for today: Bearish
The GBPUSD attempts to recover - Analysis - 09-12-2020
The GBPUSD pair provided new negative trades yesterday but it returns to fluctuate around 1.3380, noticing that the EMA50 continues to form intraday resistance barrier against the price, to support the continuation of the recently suggested negative scenario, waiting to head towards 1.3190 followed by 1.3110 areas mainly before turning back to rise again.
On the other hand, we should note that breaching 1.3440 will stop the expected decline and lead the price to resume the main bullish trend again.
The expected trading range for today is between 1.3280 support and 1.3430 resistance.
The expected trend for today: Bearish
The EURUSD begins positively – Analysis - 09-12-2020
The EURUSD pair opens today’s trading positively to head towards testing the bullish flag’s resistance that its signs appear on the chart, waiting to breach this resistance at 1.2150 to get positive motive that assists to push the price to continue the main bullish trend, which targets 1.2300 level as a next main station.
Therefore, the bullish trend scenario will remain valid and expected for the upcoming period, supported by the EMA50, reminding you that it is important to hold above 1.2040 to continue the expected rise.
The expected trading range for today is between 1.2040 support and 1.2220 resistance.
The expected trend for today: Bullish
Update: Gold price surpasses the target
Gold price resumed its positive trades to surpass 1870.00 level and attempts to hold above it, which supports the continuation of our bullish overview, which targets 1900.00 followed by 1928.60 levels as next main stations, reminding you that it is important to hold above 1838.00 to continue the suggested bullish wave.