The USDJPY touches the target – Analysis - 03-02-2021
The USDJPY pair succeeded to reach our waited target at 105.20 and settles near it, noticing that stochastic attempts to gather the positive momentum on the intraday basis, to support the chances of continuing the bullish wave and surpass the mentioned level to open the way to achieve more gains, which extend to 106.00 followed by 106.44.
Therefore, we will continue to suggest the bullish trend for the upcoming period, taking into consideration that failing to achieve the breach might push the price to test 104.40 followed by 103.95 levels before any new attempt to rise.
The expected trading range for today is between 104.40 support and 105.70 resistance
The expected trend for today: Bullish
The GBPUSD faces negative pressure - Analysis - 03-02-2021
The GBPUSD pair faced strong negative pressure yesterday and attempted to break 1.3650 level, but it ended trades above it, which keeps the positive scenario active until now, waiting to head towards 1.3815 areas mainly.
We should note that breaking 1.3650 and holding below it will put the price under additional negative pressure that targets visiting 1.3520 followed by 1.3470 levels before any new attempt to rise.
The expected trading range for today is between 1.3600 support and 1.3770 resistance.
The expected trend for today: Bullish
The EURUSD confirms the break – Analysis - 03-02-2021
The EURUSD pair confirmed breaking 1.2064 level after closing the daily candlestick below it, to support the continuation of the correctional bearish trend, which its next target located at 1.1976.
The EMA50 continues to support the suggested bearish wave, and it might retest the broken support before resuming the expected decline, which will remain valid unless breaching 1.2064 followed by 1.2095 levels and holding above them.
The expected trading range for today is between 1.1950 support and 1.2100 resistance.
The expected trend for today: Bearish
Update: Crude oil touches the first target
Crude oil price succeeded to touch our first waited target at 55.00 and settles near it, waiting for more rise to visit 56.10 that represents our next station, reminding you that it is important to hold above 53.50 to continue the expected rise.