USDCAD leans on critical support -Analysis-01-05-2025
The USDCAD price settled bearishly in its last trading on the intraday levels, leaning of the critical support at 1.3780, with continuous negative pressure due to its trading below EMA50, besides the emergence of the negative signals on the (RSI), despite reaching oversold areas, therefore, the price moves within a minor bearish channel’s range on the short-term basis.
Therefore, our expectations prefer the decline in the USDCAD price in its upcoming intraday trading, conditioned by breaking the key support level at 1.3780, followed by targeting the next support level at 1.3700.
The expected trading range is between 1.3780 support and 1.3890 resistance.
Today’s forecast: Bearish
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AUDUSD returns its positive momentum -Analysis-01-05-2025
The AUDUSD price rose in its last trading on the intraday levels, taking advantage of the positive support that came from its trading above its EMA50, amid the dominance of the main bullish trend on the short-term basis, but the price moves in sideways range in the last period, the emergence of the positive signals on the (RSI) is increasing the positive pressure on the price.
Therefore, our expectations suggest more of the upside moves for the (AUDUSD) price in its upcoming intraday trading, to target the key resistance at 0.6440, this resistance represents a critical point to detect the upcoming trend.
The expected trading range is between 0.6345 support and 0.6450 resistance.
Today’s forecast: Bullish
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NZDUSD retests a key resistance -Analysis-01-05-2025
The NZDUSD price rose in its last trading on the intraday levels, supported by the emergence of the positive signals on the (RSI), to reach in its last rise to retest the key resistance at 0.5940, amid the dominance of the bearish correctional trend on the short term basis and its trading alongside a bias line, with the continuation of the negative pressure that comes from its trading below it EMA50.
Therefore, our expectations suggest the return to the downside in the upcoming intraday trading, especially if the resistance settles at 0.5940, to target the support level at 0.5890.
The expected trading range is between 0.5900 support and 0.5960 resistance.
Today’s forecast: Bearish
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USDCHF breaches a main bearish trend line -Analysis-01-05-2025
The USDCHF price settled on a rise in its last trading on the intraday levels, supported by its continuous trading above the EMA50, which formed a dynamic support for its last moves, especially with the emergence of the positive signals on the (RSI), to succeed in its last rise to breach a main bearish trend line on the short-term basis, which supports the positive scenario.
Therefore, our expectations suggest more of the upside moves in the upcoming intraday trading, conditioned by the stability of the support at 0.8220, to target the key resistance at 0.8335.
The expected trading range is between 0.8220 support and 0.8335 resistance.
Today’s forecast: Bullish
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