The USDJPY records lower high – Analysis - 17-11-2023
The USDJPY pair bounced bearishly to break 150.95 level and settles below it, to notice that the price recorded lower high that hints heading to return to the correctional bearish track again, to head towards visiting 149.40 followed by 148.30 levels as main negative targets.
Therefore, the bearish bias will be suggested in the upcoming sessions, and breaking 150.10 will ease the mission of achieving the expected targets, while breaching 150.95 represents initial key to attempt to regain the main bullish trend again.
The expected trading range for today is between 149.60 support and 151.00 resistance
The expected trend for today: Bearish
The GBPUSD gets negative signal - Analysis - 17-11-2023
The GBPUSD pair settles below 1.2460 level, witnessing signs of forming double top pattern that we are waiting to push the price to achieve the expected decline for the upcoming period, which its next main target located at 1.2297.
On the other hand, we notice that stochastic overlaps negatively now to motivate the price to resume the suggested negative trades, taking into consideration that breaching 1.2460 will stop the expected decline and lead the price to recover again.
The expected trading range for today is between 1.2320 support and 1.2460 resistance.
The expected trend for today: Bearish
The EURUSD still negative - 17-11-2023
The EURUSD pair ended yesterday below 1.0860 level after the positive attempts that it witnessed in the previous sessions, to keep the bearish trend expected on the intraday basis, which targets testing 1.0760 as a next main station.
Stochastic provides negative signals that support the chances of resuming the expected bearish bias, noting that breaching 1.0860 will push the price to achieve additional bullish correction that its next target reaches 1.0960 areas.
The expected trading range for today is between 1.0760 support and 1.0920 resistance.
The expected trend for today: Bearish
Evening update for Crude oil price 16-11-2023
Crude oil price traded with strong negativity to succeed achieving our waited target at 73.73, noticing that the price breaks this level to open the way to suffer more losses in the upcoming period, noting that the next station is located at 71.85, while holding below 73.73 represents the first condition to continue the expected decline.