USDJPY breaks the support – Analysis - 31-01-2019
The USDJPY pair traded with clear negativity yesterday to break 109.16 level and settles below it, which stops the recently suggested positive scenario and put the price under expected negative pressure in the upcoming sessions, as the price completed forming double top pattern that its main target located at 108.09.
Therefore, we suggest the continuation of the bearish bias in the upcoming sessions, noting that breaching 109.16 and holding above it will reactivate the correctional bullish trend scenario again.
Expected trading range for today is between 108.00 support and 109.40 resistance
Expected trend for today: Bearish
GBPUSD resumes rising – Analysis - 31-01-2019
The GBPUSD pair’s recent decline stopped at 1.3055 level, to rebound upwards clearly and surpass 1.3126 level and settles above it now, which stops the negative possibility mentioned yesterday and push the price to regain the bullish track again, targeting testing 1.3226 level initially.
Therefore, the bullish trend will be expected for today unless the price failed to hold above 1.3126 level, noting that breaching the targeted level will extend the bullish wave to reach 1.3360 as a next main station.
Expected trading range for today is between 1.3050 support and 1.3226 resistance.
Expected trend for today: Bullish
EURUSD activates the positive scenario – Analysis - 31-01-2019
The EURUSD pair confirmed breaching 1.1443 level after ending yesterday’s trading above it, and it begins today with more rise to move above 1.1500 barrier, which supports the chances of continuing the bullish trend in the upcoming sessions, reminding you that our positive targets begin at 1.1550 and extend to 1.1705.
Therefore, we are waiting for more bullish bias for today conditioned by the price stability above 1.1443.
Expected trading range for today is between 1.1443 support and 1.1600 resistance.
Expected trend for today: Bullish
End of day analysis for Crude oil 30-01-2019
Crude oil price started to attack the key resistance 54.40, which supports the continuation of our bullish overview in the upcoming sessions, reminding you that confirming the breach will push the price towards 57.46 followed by 65.00 as next targets, while holding above 51.46 represents the most important condition to continue the expected rise.