The USDJPY price continues to rise – Forecast today - 07-05-2024
USDJPY Price Analysis
The USDJPY price shows more bullish bias, approaching our waited target at 155.50, reinforcing the expectations of continuing the bullish trend within the bullish channel that appears on the chart, noting that breaching the mentioned level will extend the bullish wave to reach 157.00 areas as a next positive station.
RSI continues to provide the positive signals that support the chances of continuing the rise, which will remain valid unless breaking 152.60 and holding below it.
Expected Trading Range for Today
- Support: 153.70
- Resistance: 155.50
Trend Forecast
Bullish
The GBPUSD price faces solid resistance - Forecast today - 07-05-2024
GBPUSD Price Analysis
The GBPUSD price finds difficulty to surpass 1.2580$ level, as it made new attempt to breach it, waiting to gather positive momentum that assist to confirm the breach and open the way to achieve new gains that reach 1.2700$ on the near-term basis.
Therefore, we will continue to suggest the bullish trend for the upcoming period, supported by the EMA50 that carries the price from below, noting that breaking 1.2480$ will stop the expected rise and push the price to turn to decline.
Expected Trading Range for Today
- Support: 1.2480$
- Resistance: 1.2640$
Trend Forecast
Bullish
The EURUSD price awaits the breach – Forecast today - 07-05-2024
EURUSD Currency Pair Analysis
The EURUSD price continues to provide weak trades near the intraday bullish channel’s support line, waiting to get positive motive that assist to push the price to resume the bullish wave to breach 1.0795$ and confirm heading towards our next positive target at 1.0875$.
Therefore, the bullish trend scenario will remain valid and active, reminding you that it is important to hold above 1.0715$ to achieve the waited targets.
Expected Trading Range for Today
- Support: 1.0700$
- Resistance: 1.0850$
Trend Forecast
Bullish
Ethereum price (ETHUSD) forecast update - 06-05-2024
Ethereum Price Analysis (ETHUSD)
- Ethereum price (ETHUSD) traded positively to attack the 3132.80$ level.
- However, it declines again to attempt to trade below it, keeping the bearish trend scenario valid for today.
- This bearish scenario is supported by stochastic negativity.
- Waiting for the price to visit 2905.30$ as the next main target.
- Continuation of the bearish wave requires holding below 3132.80$.
Expected Trading Range for Today:
- Support: 3000.00$
- Resistance: 3220.00$
Trend Forecast:
Bearish