The USDJPY loses momentum – Analysis - 07-03-2023
The USDJPY pair didn’t show any strong move since yesterday, to hover around the EMA50, thus, the bearish trend scenario will remain valid as it is without any change, depending on the price exit from the correctional bullish channel, waiting to visit 134.55 followed by 133.30 levels mainly.
Stochastic loses its positive momentum clearly to support the expectations to decline, noting that breaching 136.45 will push the price to rise again and test 137.70 level before determining the next destination clearly.
The expected trading range for today is between 135.00 support and 136.50 resistance
The expected trend for today: Bearish
The GBPUSD within tight track - Analysis - 07-03-2023
The tight range dominates the GBPUSD pair’s trades since yesterday, keeping its stability above the breached resistance of the correctional bearish channel, thus, no change to the expected bullish trend for the upcoming period, which its next target located at 1.2145.
Note that the continuation of the bullish wave depends on the price stability above 1.1990 and the most important above 1.1940.
The expected trading range for today is between 1.1970 support and 1.2140 resistance.
The expected trend for today: Bullish
The EURUSD confirms the breach - 07-03-2023
The EURUSD pair confirmed breaching 1.0650 after closing the daily candlestick above it, to head towards rising in the upcoming sessions, targeting testing 1.0745 as a next main station, supported by the EMA50 that pushes the price from below.
On the other hand, we notice that the price is forming double bottom pattern that might push the price to surpass the targeted level and achieve additional gains that reach 1.0845.
Therefore, the bullish bias will be suggested for today, noting that breaking 1.0650 followed by 1.0610 levels will stop the expected rise and push the price to decline again.
The expected trading range for today is between 1.0620 support and 1.0780 resistance.
The expected trend for today: Bullish
Evening update for Crude oil price 06-03-2023
Crude oil price rallied upwards to approach our first extended target at 80.40, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, reminding you that our next station reaches 81.60 after surpassing the previous level, while the continuation of the bullish wave depends on the price stability above 78.90.