The USDJPY returns to the bearish track – Analysis - 19-01-2023
The USDJPY pair couldn’t manage to hold for long time out of the main bearish channel, to trade with strong negativity yesterday and settles below 128.90 again, which push the price back to the main bearish trend and head towards achieving negative targets that start at 127.10 and extend to 126.35.
The EMA50 forms negative pressure against the price to support the continuation of the suggested negative scenario, which will remain valid conditioned by the price stability below 128.90.
The expected trading range for today is between 127.10 support and 129.00 resistance
The expected trend for today: Bearish
The GBPUSD reaches the extended target - Analysis - 19-01-2023
The GBPUSD pair rallied upwards strongly yesterday to reach few pips away from our extended target at 1.2440, and found solid resistance there to show some bearish bias and head towards potential test to the intraday bullish channel’s support line that appears on the chart, waiting to resume the bullish wave that its targets begin by surpassing the mentioned level to head towards 1.2590 as a next positive station.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 1.2250 and holding below it.
The expected trading range for today is between 1.2260 support and 1.2440 resistance.
The expected trend for today: Bullish
The EURUSD faces new negative pressure – Analysis - 19-01-2023
The EURUSD pair found solid resistance at 1.0890, to rebound bearishly and approach the key support 1.0745 again, noticing that the EMA50 forms good support against the price, waiting to push the pair to resume the main bullish wave that its next target located at 1.0915.
Until now, the bullish trend scenario will valid as long as 1.0745 level remains intact, as breaking it will press on the price to turn to decline and head towards 1.0625 mainly.
The expected trading range for today is between 1.0740 support and 1.0900 resistance.
The expected trend for today: Bullish
Evening update for Crude oil price 18-01-2023
Crude oil price faces strong negative pressure to test the intraday bullish channel’s support line, affected by stochastic negativity, which urges caution from the upcoming trading, as continuing the decline and breaking the support line at 80.30 will push the price to suffer more losses and head towards 783.90 as a next target, while stepping above 81.60 is required to reactivate the positive scenario that its next target located at 83.15.