The USDJPY under the negative pressure – Analysis - 13-01-2021
The USDJPY pair traded with strong negativity yesterday to break 104.10 and reach the most important support 103.65, starting today with additional decline to attack this level and trade below it now, which pushes the price to achieve more negative trades and return to the main bearish track again, on its way to visit 102.50 that represents the next negative target.
Therefore, the bearish bias will be expected for the upcoming sessions, taking into consideration that breaching 104.10 will stop the current negative pressure and push the price to turn to rise.
The expected trading range for today is between 102.90 support and 104.10 resistance
The expected trend for today: Bearish
The GBPUSD achieves strong gains - Analysis - 13-01-2021
The GBPUSD pair rallied upwards strongly to breach 1.3550 and achieve strong gains, as it reaches 1.3700 barrier now, which stops the recently suggested negative scenario and push the price to resume the main bullish trend, and the way is open to head towards visiting 1.3860 areas that represent the next main target.
Therefore, we expect witnessing more rise in the upcoming sessions conditioned by the price stability above 1.3600.
The expected trading range for today is between 1.3600 support and 1.3800 resistance.
The expected trend for today: Bullish
The EURUSD is recovering – Analysis - 13-01-2021
The EURUSD pair ended yesterday above 1.2173 level, which leads the price to regain the main bullish trend after the bearish correction that it witnessed in the previous sessions, on its way to test 1.2300 followed by 1.2350 levels as initial positive targets.
Therefore, the bullish trend will be expected for the upcoming period, noting that breaching 1.2220 will ease the mission of achieving the waited targets, while the bullish trend will remain active unless breaking 1.2173 and holding below it again.
The expected trading range for today is between 1.2150 support and 1.2300 resistance.
The expected trend for today: Bullish
End of day analysis for Gold 12-01-2021
Gold price faced strong negative pressure to break 1855.45 level and the most important support at 1838.10, which urges monitoring the upcoming trading, as the continuation of the negative pressure and breaking the last level will cancel the positive formation mentioned today and press on the price to suffer more losses that target 1800.00 as a next main station.