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The EURUSD Achieves Strong Gains​

The EURUSD pair ended last Friday with strong positivity, settling above 0.9900 barrier, to reinforce the chances of continuing the rise in the upcoming period, waiting to test 1 level as a next station, noting that breaching this level will lead the price to achieve additional gains that reach 1.0165. Therefore, the bullish bias will be suggested for today, noting that breaking 0.9870 will stop the positive scenario and press on the price to decline again, to head towards visiting 0.9755 initially.

The expected trading range for today is between 0.9870 support and 1.0030 resistance, and the expected trend for today is Bullish.​

 

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USDJPY Under the Negative Pressure​

The USDJPY pair faced negative pressure in the previous sessions to break 147.17 level and close the daily candlestick below it, which puts the price under more expected negative pressure in the upcoming sessions, as it returns to the correctional bearish channel to head towards visiting 146 followed by 144.20 levels as next main targets.

Therefore, the bearish trend will be suggested for today, noting that consolidating above 147.17 will stop the expected negative scenario and lead the price to recover again. The expected trading range for today is between 146.40 support and 147.90 resistance, and the expected trend for today is Bearish.​

 

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USDCAD Completes Negative Pattern​

USDCAD pair ended last Friday below 1.3500 level after the sharp decline that it witnessed in the previous sessions, affected by the strong positive employment data from the Canadian economy, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that its confirmation line located at the mentioned level.

Therefore, we expect to face additional negative pressures in the upcoming period, and the targets begin by surpassing 1.3500 support line to open the way to head towards 1.3350 followed by 1.3205 levels, taking into consideration that the consolidation of the mentioned support against the current negative pressure will lead the price to start recovery attempts that target testing 1.3680 areas initially.

The expected trading range for today is between 1.3440 support and 1.3590 resistance, and the expected trend for today is Bearish.​

 

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GBPJPY Records Some Targets​

The GBPJPY pair succeeded to breach 166.80 level, to form strong bullish rally and notice achieving many positive targets by touching 169.10 level, while the price might form sideways fluctuation until gathering the additional positive momentum that will assist to resume the rise and reach the additional targets near 169.65 and 170.50.

The above chart shows that stochastic begins to form bullish waves to approach 50 level, to increase the chances of gaining the required positive momentum to achieve the suggested targets.

The expected trading range for today is between 167.80 and 169.65, and the expected trend for today is Bullish.​

 

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AUDUSD awaits more rise​

The AUDUSD pair settles around 0.6470 level, and the price needs to get positive momentum that assists to push trades to continue rising and achieve our next positive target at 0.6540. In general, we will continue to suggest the bullish trend unless breaking 0.6397 and holding below it, noting that the EMA50 continues to support the expected bullish wave.

The expected trading range for today is between 0.6420 support and 0.6540 resistance, and the expected trend for today is Bullish.

 

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USDJPY - Japanese currency retains its advantage​

This morning, the Bank of Japan published a summary of opinions – a survey of regulator officials in all areas of the economy. Their points of view often turn out to be correct in the long run, and this time almost all participants in the discussion noted a positive trend: it is expected that the purchasing power of household incomes will continue to grow and slow down slightly only next year. At the same time, the maximum value of the inflation indicator is estimated at 3.0%, and by mid-2023, it is projected to decline to 2.0%. The regulator does not intend to change the dovish rhetoric and will likely maintain a policy of negative interest rates at subsequent meetings. In turn, the index of household spending in September increased by 1.8% after falling by 1.7% in August, which was reflected in the growth of the annual value, which now added 2.3%, and the average wage in October – 2 .1% after rising 1.7% last month.

The trading instrument moves within the global uptrend, smoothly reversing downwards.

Resistance levels: 148.25, 151 | Support levels: 145, 141.5​

 

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USDCHF hits the negative target​

The USDCHF pair managed to touch the waited negative target at 0.990 and achieved negative close below it, to support the chances of continuing the bearish bias in the upcoming sessions, paving the way to head towards 0.9815 as a next target. Therefore, we expect to witness more decline today, noting that failing to consolidate below 0.9890 will lead the price to start intraday bullish wave that targets testing 0.9990 areas initially.

The expected trading range for today is between 0.9830 support and 0.9970 resistance, and the expected trend for today is Bearish.​

 

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USDCAD presses on the neckline​

The USDCAD pair hovers around 1.3500 level and attempts to consolidate below it, to support the continuation of the expected correctional bearish trend for the upcoming period, affected by the head and shoulders’ pattern that its signs appear on the chart, waiting to resume the negative trades to head towards our next target at 1.3350.

Stochastic begins to lose the positive momentum gradually to support the expected decline, noting that failing to hold below 1.3500 might push the price to achieve intraday gains and head to visit 1.3605 followed by 1.3680 areas before any new attempt to decline.

The expected trading range for today is between 1.3430 support and 1.3570 resistance, and the expected trend for today is Bearish.​

 

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EURUSD resumes the rise​

The EURUSD pair’s rise stopped near 1.0100 level, to show tight fluctuation in attempt to gain some new positive momentum, waiting to resume the bullish wave that targets 1.0180 as a next station.

Until now, the bullish trend scenario still valid for the upcoming period as long as 1 level remains intact, noting that the EMA50 continues to support the suggested bullish wave, which its targets extend to reach 1.0285 after surpassing the above mentioned level.

The expected trading range for today is between 1 support and 1.0170 resistance, and the expected trend for today is Bullish.​

 

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NZDUSD Achieves more Gains​

The NZDUSD pair achieved our first positive target at 0.6 and bounced downwards temporarily from there, to attempt to gather the positive momentum, waiting to resume the bullish wave that targets 0.61 level as a next main station.

The EMA50 continues to support the price from below, to keep the bullish trend scenario valid and active conditioned by the price stability above 0.591. The expected trading range for today is between 0.591 support and 0.602 resistance, and the expected trend for today is Bullish.​

 

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USDJPY surpasses the first target​

The USDJPY pair resumed its negative trading clearly to surpass our first target at 146 and settles below it, confirming the continuation of the bearish trend domination, and the way is open to head towards our next negative target at 144.2. Therefore, we are waiting for more expected decline in the upcoming sessions, organized inside the correctional bearish channel that appears on the chart, noting that holding below 147.17 is important to continue the bearish trend.

The expected trading range for today is between 144.40 support and 146 resistance, and the expected trend for today is Bearish.​

 

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USDCAD resumes the decline​

The USDCAD pair traded with clear negativity yesterday to move away from 1.3500 level, reinforcing the expectations of continuing the domination of the correctional bearish trend, affected by the head and shoulders’ pattern that has negative targets that surpass 1.3350 to reach 1.3205. Therefore, we expect to witness more decline in the upcoming period supported by the negative pressure formed by the EMA50, noting that holding below 1.3500 is required to achieve the suggested targets.

The expected trading range for today is between 1.3340 support and 1.3500 resistance, and the expected trend for today is Bearish.​

 

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EURUSD Tests the Support​

The EURUSD pair traded negatively on yesterday’s evening to test the key support 1.0, keeping its stability above it, accompanied by witnessing clear positive signals through stochastic now, while the EMA50 continues to provide the positive support to the price. Therefore, these factors encourage us to keep our bullish overview that its next target located at 1.0185, noting that breaking 1.0 will stop the positive scenario and press on the price to turn to decline.

The expected trading range for today is between 0.9950 support and 1.0120 resistance, and the expected trend for today is Bullish.​

 

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GBPUSD Under the Negative Pressure​

The GBPUSD pair faced strong negative pressure yesterday, as it broke 1.1510 level and decline to reach 23.6% Fibonacci level at 1.1326 direct, noticing that the price begins to rebound bullishly by today’s open, to hint heading to recover again and regain the bullish trend. Therefore, we suggest witnessing positive trades in the upcoming sessions, supported by the positive overlapping signal provided by stochastic, noting that breaking 1.1326 will press on the price to suffer new losses and head towards the next correctional level at 1.1130.

The expected trading range for today is between 1.1320 support and 1.1500 resistance, and the expected trend for today is Bullish.​

 

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USDCAD - Markets await final US election results​

Analysts believe that the leading macroeconomic indicators in Canada are not improving fast enough: for example, yesterday, the Minister of Finance Chrystia Freeland said that households could alleviate the burden of high inflation for themselves if they refuse paid subscription to streaming television services, which caused outrage in the expert community. The greatest growth in recent months has been shown by food inflation, which reached a 41-year high of 18.0%, and it is unlikely that it will be possible to solve this problem by reducing the personal spending of households.



On the daily chart of the asset, the trading instrument continues to implement the Head and shoulders reversal pattern.

Resistance levels: 1.36, 1.38 | Support levels: 1.3426, 1.322​

 

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EURUSD Hits the Target​

The EURUSD pair succeeded to achieve our waited target at 1.0185 and attempts to breach it, to pave the way to continue the rise and head to visit 1.0285 as a next positive target. The EMA50 continues to support the price from below, to support the continuation of the bullish trend in the upcoming sessions, taking into consideration that failing to surpass 1.0185 will press on the price to rebound bearishly and head to test 1.0 areas before any new attempt to rise.

The expected trading range for today is between 1.0100 support and 1.0285 resistance.​

 

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NZDUSD rises strongly​

The NZDUSD pair bounced upwards sharply to breach 0.5910 level and reach the bullish channel’s resistance that appears on the chart, to open the way to resume the bullish trend within the mentioned channel, targeting 0.6055 followed by 0.6100 levels as next positive stations. Therefore, we expect to witness more rise in the upcoming sessions conditioned by the price stability above 0.5910.

The expected trading range for today is between 0.5950 support and 0.6070 resistance.​

 

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GBPUSD Awaits more Rise​

The GBPUSD pair provides strong positive trades to achieve our waited target at 1.18, waiting for new rises to achieve additional gains that start by visiting 1.1920 and reach 1.2 barrier, as the price returned to the bullish channel that appears on the chart, which supports the chances of continuing the bullish trend on the intraday and short term basis.

On the other hand, the EMA50 provides good support to the price, to keep our bullish overview conditioned by the price stability above 1.1645. The expected trading range for today is between 1.1720 support and 1.1900 resistance.​

 

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EURUSD Technical Analysis​

The EURUSD pair resumes its positive trading after testing 1.0300 barrier this morning, to keep the bullish trend scenario active for today, waiting to get positive motive that assists to push the price to achieve our next main target that reaches 1.0515, reminding you that the continuation of the bullish wave requires holding above 1.0285.

The expected trading range for today is between 1.0260 support and 1.0430 resistance.​

 

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AUDCAD Settles Above the Moving Average​

The AUDCAD pair resumed its correctional bullish attack by breaching 0.8840 barrier recently, to settle above the moving average 55 and notice recording additional gains by reaching 0.8935, while stochastic additional positive momentum allows us to expect providing new bullish trades, to attempt to achieve new gains that might start at 0.9 and 0.9055.

The expected trading range for today is between 0.8880 and 0.9, and the expected trend for today is Bullish.​