The USDJPY under the negative pressure – Analysis - 09-02-2021
The USDJPY pair faced strong negative pressure to break 105.20 level and settles below it, which stops the recently suggested positive scenario and push the price to achieve more expected decline in the upcoming sessions, on its way to test 104.40 initially, noting that breaking this level will push the price towards 103.65 as a next station.
Therefore, the bearish trend will be expected for the upcoming sessions unless we witnessed clear breach and hold above 105.20.
The expected trading range for today is between 104.00 support and 105.40 resistance
The expected trend for today: Bearish
The GBPUSD resumes the rise - Analysis - 09-02-2021
The GBPUSD pair bounced bullishly after testing the bullish channel’s support line, starting today with good rise to approach our first waited positive target at 1.3815, to keep the bullish trend scenario active for the upcoming period, which its targets extend to 1.3965 on the near term basis.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 1.3705 and holding below it.
The expected trading range for today is between 1.3705 support and 1.3870 resistance.
The expected trend for today: Bullish
The EURUSD completes a positive pattern – Analysis - 09-02-2021
The EURUSD pair opened today’s trading with clear positivity to breach 1.2064 level and settles above it, and by taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders’ pattern that appears on the chart, which means that the chances are valid to achieve more expected gains in the upcoming sessions, and the targets begin by breaching 1.2085 to confirm rallying towards 1.2140 and 1.2173 levels as main positive stations.
Therefore, the bullish trend will be expected for today unless breaking 1.2064 – 1.2055 levels and holding below them.
The expected trading range for today is between 1.2000 support and 1.2170 resistance.
The expected trend for today: Bullish
Update: Gold price achieves clear gains
Gold price rallied upwards strongly to breach 1820.00 level and tests the key resistance 1838.10, which urges caution from the upcoming trading, as continuing the rise and breaching this resistance will stop the recently suggested negative scenario and lead the price to achieve additional gains that start at 1865.00 followed by 1900.00, while holding below it will push the price to decline again and visit 1800.00 initially.