The USDJPY touches the first target – Analysis - 20-03-2023
The USDJPY pair managed to touch our first waited target at 131.60, and continues to move within the bearish channel that appears on the chart, which supports the chances of continuing the decline towards our next target that reaches 130.50.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 133.30 will stop the expected decline and lead the price to start new bullish wave.
The expected trading range for today is between 131.20 support and 132.90 resistance
The expected trend for today: Bearish
The GBPUSD attempts positively - Analysis - 20-03-2023
The GBPUSD pair provided new positive trades to test 1.2200 barrier, waiting to get positive motive that assists to push the price to continue the price and achieve our positive targets that start at 1.2260 and extend to 1.2440 after surpassing the previous level.
The EMA50 continues to support the expected bullish wave, which depends on the price stability above 1.2060, as breaking it will put the price under negative pressure that targets testing 1.1940 before any new attempt to rise.
The expected trading range for today is between 1.2110 support and 1.2270 resistance.
The expected trend for today: Bullish
The EURUSD crawls upwards - 20-03-2023
The EURUSD pair shows calm positive trades to gradually towards our waited target at 1.0745, getting good support by the EMA50, to keep the bullish trend suggested for the upcoming period.
It is important to monitor the price when reaching the targeted level, as breaching it will extend the bullish wave to reach 1.0920 areas as a next main station, while consolidating against the bullish wave will press on the price to rebound bearishly to test the minor support areas around 1.0635 initially.
On the other hand, we should note that breaking 1.0635 will stop the expected rise for today and push the price to turn to decline to visit 1.0515 level as a first station.
The expected trading range for today is between 1.0600 support and 1.0760 resistance.
The expected trend for today: Bullish
Update: Crude oil price surpasses the first target
Crude oil price declined strongly to surpass our first waited target at 67.65 and opens the way to achieve more bearish bias to head towards our next target at 65.70, and we suggest the continuation of the bearish trend domination and suffer additional losses that extend to 64.00 areas, taking into consideration that the continuation of the bearish wave depends on the price stability below 69.25.