The USDJPY resumes the bullish rally – Analysis - 28-03-2022
The USDJPY pair rallied upwards strongly by today’s open to breach 122.40 and open the way to resume the main bullish trend, to head towards achieving more gains on the intraday and short term basis, on its way to visit 124.00 as a next main station.
Therefore, we expect to witness more rise in the upcoming sessions unless breaking 122.40 and holding below it.
The expected trading range for today is between 122.40 support and 123.60 resistance
The expected trend for today: Bullish
The GBPUSD tests the key support - Analysis - 28-03-2022
The GBPUSD pair couldn’t manage to hold for long time above 1.3175, to press on the key support 1.3145 now, which makes us prefer to stay neutral temporarily until we get clearer signal for the next trend, which we will get through breaking this support or breaching 1.3235 resistance.
Note that breaching the mentioned resistance will push the price to resume the correctional bullish track that its next target located at 1.3310, while breaking the support will press on the price to return to the main bearish trend and head towards 1.3000 mainly.
The expected trading range for today is between 1.3060 support and 1.3240 resistance.
The expected trend for today: Neutral
The EURUSD breaks the support – Analysis - 28-03-2022
The EURUSD pair opened today negatively to break the intraday bullish trend line and settles below it, which stops the positive scenario suggested on last Friday and lead the price to resume the bearish trend again, on its way to achieve negative targets that start at 1.0920 and extend to 1.0775 after breaking the previous level.
Therefore, the bearish bias will be suggested for today, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 1.1010 will stop the expected decline and push the price to attempt to recover again.
The expected trading range for today is between 1.0860 support and 1.1020 resistance.
The expected trend for today: Bearish
Evening update for Crude oil price 25-03-2022
Crude oil price leaned on 109.15 level and bounced upwards strongly to recover and resume the bullish track, as it test the key resistance 113.75 now, noting that breaching this level will extend the bullish wave to target 119.35 areas on the near term basis, while consolidating against the bullish rally will press on the price to rebound bearishly and visit 109.15 again.