The USDJPY under the negative pressure – Analysis - 06-07-2022
The USDJPY pair couldn’t manage to hold for long time above the bullish channel’s support line, to break it and settle below it again, which puts the price under the correctional bearish pressure, targeting testing 134.30 initially, noting that breaking this level will extend the bearish wave to reach 132.85 as a next station.
Therefore, the bearish bias will be expected for today unless breaching 136.20 and holding above it.
The expected trading range for today is between 134.40 support and 135.70 resistance
The expected trend for today: Bearish
The GBPUSD declines strongly - Analysis - 06-07-2022
The GBPUSD pair provided strong negative trades yesterday to achieve our extended target at 1.1933, showing some bullish bias affected by stochastic positivity to test the resistance line formed around 1.1980, and the price needs to hold below this level to keep the bearish trend dominant in the upcoming sessions, waiting to visit 1.1860 as a next negative target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 1.1980 might push the price to achieve intraday gains and visit 1.2077 areas and might extend to 1.2185 before any new attempt to decline.
The expected trading range for today is between 1.1880 support and 1.2040 resistance.
The expected trend for today: Bearish
The EURUSD achieves the extended negative targets – Analysis - 06-07-2022
The EURUSD pair settles around 1.0250 level after the strong decline that it witnessed yesterday, falling under continuous negative pressure coming by the EMA50, to suggest the continuation of the bearish bias in the upcoming sessions and heading to achieve more decline that targets 1.0100 as a next main station.
Therefore, the bearish trend scenario will remain suggested on the intraday and short term basis, taking into consideration that breaching 1.0355 will stop the negative pressure and lead the price to start new recovery attempts.
The expected trading range for today is between 1.0170 support and 1.0320 resistance.
The expected trend for today: Bearish
Evening update for Crude oil price 05-07-2022
Crude oil price suffered strong losses after breaking 104.60 level, to decline sharply and break 98.95 level to reach 96.00 areas, to head towards achieving more expected decline as long as 98.95 level remains intact, noting that the next negative station reaches 95.00.