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The USDJPY touches the first target – Analysis - 12-12-2023
The USDJPY pair managed to achieve our first waited positive target at 146.17 and finds solid resistance there, to rebound bearishly and hint heading to resume the correctional bearish track, on its way to visit 144.47 as a next negative station.
Therefore, we expect to witness negative trades in the upcoming sessions supported by the negativity that appears clearly through the technical indicators, noting that breaching 146.17 will stop the expected decline and push the price to achieve additional gains that reach 147.80.
The expected trading range for today is between 144.70 support and 146.20 resistance
The expected trend for today: Bearish
The GBPUSD keeps its negative stability - Analysis - 12-12-2023
The GBPUSD pair tested the key resistance 1.2590 and kept its stability below it, to keep the bearish trend scenario active, affected by the previously completed double top pattern, waiting to visit 1.2460 as a next main target.
The EMA50 meets the mentioned resistance to add more strength to it and reinforce the expectations to decline, noting that breaching this resistance will stop the negative scenario and push the price to recover again.
The expected trading range for today is between 1.2470 support and 1.2620 resistance.
The expected trend for today: Bearish
The EURUSD awaits confirmation signal - 12-12-2023
The EURUSD pair couldn’t manage to confirm breaking 1.0760 support line, to fluctuate around it again, which keeps our neutrality valid until the price manages to break the mentioned support or breach 1.0860 resistance to detect the next trend clearly.
The current contradiction between the technical indicators provides another reason for neutrality, reminding you that breaking the support will push the price to return to the main bearish track and achieve negative targets that start by testing 1.0645 areas, while breaching the resistance will lead the price to visit 61.8% Fibonacci correction level at 1.0960 mainly.
The expected trading range for today is between 1.0680 support and 1.0850 resistance.
The expected trend for today: Neutral
Evening update for Gold 11-12-2023
Gold price resumed its negative trading to reach our waited target at 1977.46, and the way seems open to surpass this level to open the way to head towards the next correctional target at 1938.00, to keep the bearish bias suggested in the upcoming sessions, taking into consideration that the consolidation of 1977.46 level against the current negative pressure will lead the price to start recovery attempts on the intraday basis.