The USDJPY tests the support base – Analysis - 08-09-2023
The USDJPY pair tested the key support 146.55 and bounced bullishly from there, to settle above 147.00 barrier again, which keeps the bullish trend scenario valid and active for the upcoming period, motivated by stochastic positivity that appears clearly now, waiting to head towards our next target at 148.40.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 146.55 and holding below it.
The expected trading range for today is between 146.55 support and 148.10 resistance
The expected trend for today: Bullish
The GBPUSD tests the resistance - Analysis - 08-09-2023
The GBPUSD pair is testing the key resistance 1.2505 and keeps its stability below it until now, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the main bearish trend, which its next target located at 1.2395.
Therefore, the bearish trend scenario will remain active, noting that breaching 1.2505 will stop the expected decline and lead the price to achieve intraday gains that target testing 1.2625 before any new attempt to decline.
The expected trading range for today is between 1.2400 support and 1.2560 resistance.
The expected trend for today: Bearish
The EURUSD attempts to recover - 08-09-2023
The EURUSD pair found solid support at 1.0700 level, to show some slight bullish bias now, affected by stochastic positivity, and it might head to test the key resistance 1.0785 before turning back to decline again.
The bearish channel continues to organize the main bearish wave, which gets continuous support by the EMA50, to keep the overall bearish trend scenario valid for the upcoming period unless the price rallied to breach 1.0785 and hold above it, reminding you that our next main target reaches 1.0635.
The expected trading range for today is between 1.0635 support and 1.0785 resistance.
The expected trend for today: Overall bearish
Midday update for Brent oil 07-09-2023
Brent oil price shows more bearish bias to approach 90.00 barrier, affected by stochastic negativity, while the main bullish trend scenario still active as long as 89.10 level remains intact, supported by the EMA50 that carries the price from below, reminding you that our main waited targets begin at 92.35 and extend to 93.20.
The expected trading range for today is between 89.50 support and 92.50 resistance.
The expected trend for today: Bullish