The USDJPY touches the target – Analysis - 26-02-2021
The USDJPY pair succeeded to achieve our waited target at 106.44 but it bounced downwards clearly from there, which hints that the price is on its way to visit the intraday bullish channel’s support line that appears on the chart, located at 105.20.
Therefore, the bearish bias will be expected for today, supported by stochastic negativity, noting that breaching 106.44 will stop the expected decline and lead the price to achieve more gains on the intraday and short-term basis.
The expected trading range for today is between 105.40 support and 106.60 resistance
The expected trend for today: Bearish
The GBPUSD breaks the support - Analysis - 26-02-2021
The GBPUSD pair broke 1.4070 level strongly and declined to surpass the EMA50, to fall under expected additional negative pressure in the upcoming period, as the next target is located at 1.3900, noting that breaking this level will extend the pair’s losses to reach 1.3775.
Therefore, we expect witnessing more decline today supported by moving below the EMA50, noting that the expected decline will remain valid unless the price rallied to breach 1.4100 and hold above it.
The expected trading range for today is between 1.3880 support and 1.4060 resistance.
The expected trend for today: Bearish
The EURUSD faces strong negative pressure – Analysis - 26-02-2021
The EURUSD pair ended yesterday with strong negativity to break 1.2173 level and settles below it, starting today with new bearish bias in attempt to move away from the mentioned level, which hints the price head to decline in the upcoming sessions, on its way to visit 1.2064 mainly.
Therefore, the bearish bias will be expected for today, and breaking 1.2135 will ease the mission of achieving the mentioned negative target, taking into consideration that breaching 1.2173 and holding above it will stop the negative scenario and lead the price to resume the main bullish trend again.
The expected trading range for today is between 1.2064 support and 1.2240 resistance.
The expected trend for today: Bearish
Update: Crude oil price leans on the minor support
Crude oil price tested the minor support base 62.95 and bounced bullishly from there, to keep the bullish trend scenario valid and active for the upcoming period, supported by the EMA50 that carries the price from below, waiting to visit 65.60 as a next target, while holding above 62.40 represents the most important condition to continue the expected rise.