The USDJPY still stuck – Analysis - 18-01-2021
The USDJPY pair continues to fluctuate between the trend confirmation levels represented by 103.65 support and 104.05 resistance, which keeps our neutrality valid until now, waiting to breach one of the mentioned levels to detect the next destination clearly.
To review the expected targets after the breach, please check our previous report.
The expected trading range for today is between 103.00 support and 104.40 resistance
The expected trend for today: Neutral
The GBPUSD under the negative pressure - Analysis - 18-01-2021
The GBPUSD pair found difficulty to breach 1.3700 barrier, to trade with clear negativity and break 1.3590 level, which puts the price under more expected negative pressure in the upcoming period, targeting test 1.3510 level, noting that breaking this level will extend the bearish wave to reach 1.3445 followed by 1.3375 levels.
Therefore, we expect witnessing more decline in the upcoming sessions unless breaching 1.3615 and holding above it.
The expected trading range for today is between 1.3480 support and 1.3615 resistance.
The expected trend for today: Bearish
The EURUSD touches the first target – Analysis - 18-01-2021
The EURUSD pair succeeded to touch our first waited target at 1.2064 and settles there, expecting to break this level and open the way to visit 1.1975 that represents our next correctional target, depending on the completion of the head and shoulders’ pattern that its signs appear on the chart, supported by the negative pressure formed by the EMA50.
Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that failing to break 1.2064 will push the price to attempt to recover and achieve intraday gains that start at 1.2125 followed by 1.2173.
The expected trading range for today is between 1.1980 support and 1.2125 resistance.
The expected trend for today: Bearish
End of day analysis for Crude oil 15-01-2021
Crude oil price begins to attack 52.30 level now, to complete forming double top pattern that might push the price to exit the main bullish channel and achieve more bearish correction on the longer term basis, which urges caution from the upcoming trading, as closing the daily candlestick below 52.30 will confirm the turn to the downside, while stepping above it will reactivate the bullish trend scenario again, which its targets begin at 54.62 followed by 56.00.