The USDJPY price awaits more rise – Forecast today - 19-03-2024
The USDJPY price didn’t show any strong move yesterday, to fluctuate within tight track around 149.20, thus, no change to the expected bullish trend scenario for the upcoming period, affected by the double top pattern that appears on the chart, reminding you that our next target is located at 149.90.
Holding above 148.37 and 148.15 levels is important to the continuation of the expected rise, as breaking these levels will push the price to return to the correctional bearish track again.
The expected trading range for today is between 148.60 support and 150.00 resistance
Trend forecast: Bullish
The GBPUSD price crawls downwards - Forecast today - 19-03-2024
The GBPUSD price resumes its negative trading calmly to reach 1.2700 barrier, waiting for more decline to test the key support that rises now to 1.2675, being aware that we need to monitor the price at this level due to its importance to detect the next trend, as breaking it represents the key to extend the bearish wave to reach 1.2600 areas as a next negative station, while consolidating above it will lead the price to attempt to regain the main bullish trend again.
On the other hand, we should note that breaching 1.2815 will stop the expected decline and push the price to return to rise without the need to the suggested decline.
The expected trading range for today is between 1.2630 support and 1.2790 resistance.
Trend forecast: Bearish
The EURUSD price tests the support – Forecast today -
The EURUSD price trades negatively to start testing the key support 1.0860, affected by the previously completed double top pattern to support the chances of surpassing this level and confirm extending the bearish wave to reach 1.0765 as a next main target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 1.0900 followed by 1.0960 levels will stop the expected decline and lead the price to rise again and achieve new gains that reach 1.1080.
The expected trading range for today is between 1.0780 support and 1.0920 resistance.
Trend forecast: Bearish
End of day crude oil price forecast update - 18-03-2024
Crude oil price rallies upwards clearly to reach the thresholds of the waited target at 82.60, and we suggest the continuation of the bullish bias to achieve additional gains that reach 83.85, to keep the bullish trend scenario valid on the intraday and short-term basis unless breaking 80.60 and holding below it.