EURUSD rallies upwardsThe EURUSD pair traded with strong positivity yesterday to begin testing 1.1400 barrier, showing some slight bearish bias affected by stochastic current negativity, waiting to gather enough positive momentum to push the price to resume the bullish bias that its next target located at 1.1494. Therefore, our bullish overview will remain valid and active for the upcoming period supported by the EMA50, noting that breaching the targeted level will extend the bullish wave to reach 1.1640, while the price needs to hold above 1.1264 to keep the chances of continuing the bullish momentum on the intraday and short term basis. Expected trading range for today is between 1.1264 support and 1.1520 resistance. Expected trend for today: Bullish
GBPUSD near the moving averageThe GBPUSD pair continues to fluctuate within sideways range keeping its stability above the EMA50, which keeps the chances valid to continue the bullish bias in the upcoming period, waiting to test the main bearish channel’s resistance located at 1.4495 now. Therefore, we will continue to suggest the bullish trend on the intraday basis unless breaking 1.4290 level, reminding you with the importance of monitoring the price behavior when reaching the targeted level, as breaching it represents the key to extend the pair’s gains to reach 1.5000 on the near term basis, while breaking 1.4290 followed by 1.4125 levels will push the price to resume the bearish trend within the main bearish channel that appears on chart. Expected trading range for today is between 1.4200 support and 1.4495 resistance. Expected trend for today: Bullish
USDJPY is stableThe USDJPY pair shows sideways and tight trading since yesterday settling near 112.00 level, and as long as the price is below 113.97, we will continue to suggest the correctional bearish trend, which its next targets located at 110.00 then 106.63. The EMA50 and stochastic continue to support the suggested bearish wave. Expected trading range for today is between 111.00 support and 113.25 resistance. Expected trend for today: Bearish
NZDUSD heads to retestThe NZDUSD pair shows some bearish bias approaching from retesting 0.6860 level that forms key support base after breaching it previously, noticing that stochastic keeps crawling towards the oversold areas to form positive factor that we are waiting to motivate the price to resume the bullish trend in the upcoming period. Therefore, we continue to suggest the bullish trend on the intraday and short term basis conditioned by holding above 0.6860 level, waiting to target areas that begin at 0.7000 and extend to reach 0.7230. Expected trading range for today is between 0.6800 support and 0.7050 Expected trend for today: Bullish
AUDUSD needs the positive momentumThe AUDUSD pair tested 0.7700 level yesterday and bounced bearishly from there, to approach from testing the support base formed above 0.7600 level, as the price is affected by stochastic current negativity, waiting to get enough positive momentum to push trading to rise again. In general, the bullish trend scenario will remain valid and active in the upcoming sessions as long as the price is above 0.7600 level, supported by the EMA50, and the next targets located at 0.8000 – 0.8060. Expected trading range for today is between 0.7550 support and 0.7770 Expected trend for today: Bullish
USDCHF resumes the declineThe USDCHF pair bounced clearly to the downside after approaching from retesting 0.9676 level yesterday, which supports the continuation of our bearish overview efficiently for the upcoming period, reinforced by the negative pressure provided by the EMA50. Therefore, we believe that the way is open to head towards 0.9474 as a next main station, noting that holding below 0.9676 represents key condition to continue the expected decline for today. Expected trading range for today is between 0.9474 support and 0.9676 resistance. Expected trend for today: Bearish
USDCAD attempts to recoverThe USDCAD pair bounced bullishly after approaching from our main waited target at 1.2825, which hints recovery attempts that target testing the bearish channel’s resistance that meets the key resistance at 1.3264, especially that the price opens today’s trading with more positivity surpassing 1.3000 barrier. Therefore, the bullish bias will be suggested for today, noting that this rise is temporary unless breaching 1.3264 followed by 1.3325 levels and holding above them, waiting a bearish rebound to resume the decline on the short term basis, which its next target located at 1.2720. Expected trading range for today is between 1.2900 support and 1.3200 resistance. Expected trend for today: Bullish temporarily
Crude Oil keeps its negative stabilityCrude oil price attempted to breach 38.37 level but it kept the stability of the daily close below it, as the EMA50 formed solid resistance barrier against the price positive attempts, noticing that stochastic offers negative overlapping signal on the four hours’ time frame. Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming period, and the main targets begin at 35.13 followed by 34.00, taking into consideration that breaching 38.37 followed by 39.00 levels will stop the current negative pressure and push the price towards 44.00 initially. Expected trading range for today is between 34.00 support and 39.50 resistance. Expected trend for today: Bearish
GBPUSD near the moving averageThe GBPUSD pair continues to fluctuate within sideways range keeping its stability above the EMA50, which keeps the chances valid to continue the bullish bias in the upcoming period, waiting to test the main bearish channel’s resistance located at 1.4495 now. Therefore, we will continue to suggest the bullish trend on the intraday basis unless breaking 1.4290 level, reminding you with the importance of monitoring the price behavior when reaching the targeted level, as breaching it represents the key to extend the pair’s gains to reach 1.5000 on the near term basis, while breaking 1.4290 followed by 1.4125 levels will push the price to resume the bearish trend within the main bearish channel that appears on chart. Expected trading range for today is between 1.4200 support and 1.4495 resistance. Expected trend for today: Bullish
USDJPY is stableThe USDJPY pair shows sideways and tight trading since yesterday settling near 112.00 level, and as long as the price is below 113.97, we will continue to suggest the correctional bearish trend, which its next targets located at 110.00 then 106.63. The EMA50 and stochastic continue to support the suggested bearish wave. Expected trading range for today is between 111.00 support and 113.25 resistance. Expected trend for today: Bearish
NZDUSD heads to retestThe NZDUSD pair shows some bearish bias approaching from retesting 0.6860 level that forms key support base after breaching it previously, noticing that stochastic keeps crawling towards the oversold areas to form positive factor that we are waiting to motivate the price to resume the bullish trend in the upcoming period. Therefore, we continue to suggest the bullish trend on the intraday and short term basis conditioned by holding above 0.6860 level, waiting to target areas that begin at 0.7000 and extend to reach 0.7230. Expected trading range for today is between 0.6800 support and 0.7050 Expected trend for today: Bullish
AUDUSD needs the positive momentumThe AUDUSD pair tested 0.7700 level yesterday and bounced bearishly from there, to approach from testing the support base formed above 0.7600 level, as the price is affected by stochastic current negativity, waiting to get enough positive momentum to push trading to rise again. In general, the bullish trend scenario will remain valid and active in the upcoming sessions as long as the price is above 0.7600 level, supported by the EMA50, and the next targets located at 0.8000 – 0.8060. Expected trading range for today is between 0.7550 support and 0.7770 Expected trend for today: Bullish
USDCHF resumes the declineThe USDCHF pair bounced clearly to the downside after approaching from retesting 0.9676 level yesterday, which supports the continuation of our bearish overview efficiently for the upcoming period, reinforced by the negative pressure provided by the EMA50. Therefore, we believe that the way is open to head towards 0.9474 as a next main station, noting that holding below 0.9676 represents key condition to continue the expected decline for today. Expected trading range for today is between 0.9474 support and 0.9676 resistance. Expected trend for today: Bearish
USDCAD attempts to recoverThe USDCAD pair bounced bullishly after approaching from our main waited target at 1.2825, which hints recovery attempts that target testing the bearish channel’s resistance that meets the key resistance at 1.3264, especially that the price opens today’s trading with more positivity surpassing 1.3000 barrier. Therefore, the bullish bias will be suggested for today, noting that this rise is temporary unless breaching 1.3264 followed by 1.3325 levels and holding above them, waiting a bearish rebound to resume the decline on the short term basis, which its next target located at 1.2720. Expected trading range for today is between 1.2900 support and 1.3200 resistance. Expected trend for today: Bullish temporarily
Crude Oil keeps its negative stabilityCrude oil price attempted to breach 38.37 level but it kept the stability of the daily close below it, as the EMA50 formed solid resistance barrier against the price positive attempts, noticing that stochastic offers negative overlapping signal on the four hours’ time frame. Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming period, and the main targets begin at 35.13 followed by 34.00, taking into consideration that breaching 38.37 followed by 39.00 levels will stop the current negative pressure and push the price towards 44.00 initially. Expected trading range for today is between 34.00 support and 39.50 resistance. Expected trend for today: Bearish