The USDJPY surpasses the resistance – Analysis - 03-12-2020
The USDJPY pair breached 104.40 level, but we notice that the price could not surpass last week recorded high at 104.76, to rebound bearishly and attempts to return below the main resistance that forms support line now at 104.35, which hints that the price is on its way to resume the main bearish track.
Therefore, the bearish bias will be suggested for today conditioned by the price stability below 104.76, noting that breaking 104.35 will confirm the continuation of the decline that targets 103.65 areas mainly.
The expected trading range for today is between 103.65 support and 105.00 resistance
The expected trend for today: Bearish
The GBPUSD keeps its positive stability - Analysis - 03-12-2020
The GBPUSD pair faced strong negative pressure yesterday to attack 1.3315 and attempts to break it, but the decline stopped at the sideways track support line that its signs appear on the chart, to rebound upwards clearly and approaches 1.3400 level, waiting to surpass this level to confirm continuing the main bullish trend.
Stochastic keeps providing positive signals that support the chances of achieving the required breach, to keep our bullish overview for the upcoming period conditioned by the price stability above 1.3315 and 1.3285 levels, noting that our next main target is located at 1.3482.
The expected trading range for today is between 1.3315 support and 1.3484 resistance.
The expected trend for today: Bullish
The EURUSD approaches the extended target – Analysis - 03-12-2020
The EURUSD pair keeps providing the positive trades to approach our extended target at 1.2150, and we suggest the continuation of the bullish trend domination in the upcoming sessions, noting that surpassing the mentioned level will push the price to 1.2300 as a next main station.
Therefore, the bullish trend will remain valid and active for the upcoming period conditioned by the price stability above 1.2011.
The expected trading range for today is between 1.2050 support and 1.2220 resistance.
The expected trend for today: Bullish
End of day analysis for Crude oil 02-12-2020
Crude oil price rallied upwards strongly to attack 45.65 level and attempts to confirm breaching it, which urges caution from the upcoming trading, as closing today above this level will stop the recently suggested correctional bearish scenario and leads the price to resume the main bullish trend again, which its next main target located at 48.00 areas.