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USDJPY retests – Analysis - 06-03-2018
The USDJPY pair traded with clear positivity yesterday to retest the previously broken support line that turns into key resistance now at 106.35, accompanied by witnessing clear overbought signals through stochastic, while the EMA50 forms negative pressure against the intraday and short term trades.
Therefore, we believe that the chances are valid to rebound bearishly and resume the bearish trend in the upcoming sessions, and the targets begin at 105.54 and extend to 104.31, taking into consideration that breaching 106.35 will push the price to achieve gains that start at 107.40 and extend to 108.53 after breaching the previous level.
Expected trading range for today is between 105.54 support and 107.00 resistance.
Expected trend for today: Bearish
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GBPUSD tests the resistance – Analysis - 06-03-2018
The GBPUSD pair tested the key resistance 1.3854 and keeps its stability below it until now, as the EMA50 meets this level to add more strength to it, while stochastic moves at the overbought areas now.
MoreEURUSD awaits the confirmation – Analysis - 06-03-2018
The EURUSD pair continues to fluctuate between the key levels represented by 1.2304 support and the resistance line that rises now to 1.2420, thus, we will continue with our neutrality until the price succeeds to breach one of the mentioned levels, noting that stochastic reaches the overbought areas now to contradict the EMA50 positivity.
MoreEnd of day analysis for Crude oil 05-03-2018
Crude oil price rallies upwards strongly to touch our first waited target at 62.65 and attempts to breach it, reinforcing the expectations of continuing the bullish trend in the upcoming period, waiting to confirm breaching the mentioned level to rally towards more gains that target 64.20 level as a next main station, reminding you that holding above 61.40 is important to achieve the waited targets.
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