The USDJPY surpasses the first target – Analysis - 11-01-2021
The USDJPY pair succeeded to achieve our first waited target at 104.20 and begins attempts to breach it, which supports the chances of continuing the bullish trend in the upcoming sessions, on its way to visit 105.20 that represents the next positive target.
Therefore, we will continue to suggest the bullish trend on the intraday basis, noting that failing to achieve the required breach and bouncing bearishly to break 103.65 will stop the expected rise and press on the price to turn to the main bearish track again.
The expected trading range for today is between 103.70 support and 105.00 resistance
The expected trend for today: Bullish
The GBPUSD completes negative pattern - Analysis - 11-01-2021
The GBPUSD pair started today with strong decline to break 1.3550 and settles below it, to complete forming triple top pattern that its signs appear on the chart, which causes a turn to the intraday track to the downside, to head towards visiting 1.3430 followed by 1.3380 levels as main negative targets.
Therefore, we expect witnessing more decline today, noting that breaching 1.3550 will stop the negative scenario and push the price to attempt to regain the bullish trend again.
The expected trading range for today is between 1.3410 support and 1.3580 resistance.
The expected trend for today: Bearish
The EURUSD begins the bearish correction – Analysis - 11-01-2021
The EURUSD pair confirmed breaking the bullish channel’s support line and opened today with clear decline to touch 1.2173 level that represents 23.6% Fibonacci correction level for the rise measured from 1.1602 to 1.2349, to suggest the beginning of bearish correction that its targets extend to 1.2064 after confirming surpassing the previous level.
Therefore, the bearish trend will be expected for the upcoming period, supported by the negative pressure formed by the EMA50, taking into consideration that failing to achieve the requires break will lead the price to start recovery attempts and test 1.2270 areas initially.
The expected trading range for today is between 1.2090 support and 1.2240 resistance.
The expected trend for today: Bearish
End of day analysis for Crude oil 08-01-2021
Crude oil price succeeded to touch our first waited target at 51.70 and attempts to breach it, to support the expectations of achieving more gains in the upcoming period, which its next target located at 54.62, reminding you that the continuation of the bullish wave requires holding above 49.40.