The USDJPY surpasses the second target – Analysis - 11-10-2021
The USDJPY pair succeeded to surpass our main waited target at 112.05 and rallies upwards by today’s open to confirm opening the way to extend the bullish wave on the intraday and short term basis, waiting to visit 113.40 as a next positive station.
Therefore, the bullish bias will remain dominant in the upcoming sessions, supported by the EMA50 that carries the price from below, noting that the continuation of the bullish wave requires holding above 112.05 and the most important above 111.70.
The expected trading range for today is between 112.20 support and 113.30 resistance
The expected trend for today: Bullish
The GBPUSD forms positive pattern - Analysis - 11-10-2021
The GBPUSD pair kept its stability above the support base formed above 1.3600, to resume its positive trades and reach our first waited target at 1.3660, and by taking a deeper look at the chart, we find that the price forms double bottom pattern that has positive targets that start at 1.3795 and extend to 1.3865.
Therefore, we believe that the chances valid to achieve more rise in the upcoming sessions, taking into consideration that breaking 1.3600 will stop the positive scenario and press on the price to turn to decline.
The expected trading range for today is between 1.3580 support and 1.3740 resistance.
The expected trend for today: Bullish
The EURUSD rises calmly – Analysis - 11-10-2021
The EURUSD pair shows slight positive trades to approach the EMA50 that forms continuous negative pressure against the price, noticing that the recent trades are confined within minor bullish channel that we believe it forms bearish flag pattern, thus, breaking 1.1545 will activate the negative effect of this pattern and lead the price to resume the bearish trend that its first target located at 1.1500.
Stochastic loses its positive momentum gradually to support the expectations to decline, which will remain valid unless breaching 1.1605 and holding above it.
The expected trading range for today is between 1.1480 support and 1.1620 resistance.
The expected trend for today: Bearish
Update: Gold price attacks the resistance
Gold price rallies upwards strongly to attack 1770.00 level and attempts to hold above it, which urges caution from the upcoming trading, as confirming the breach will stop the recently suggested negative scenario and lead the price to head towards 1800.00 initially, while the price needs to trade below 1770.00 again to resume the bearish track that its first target located at 1735.00.