USDCAD looks for a bias -Analysis-25-04-2025
The USDCAD fluctuated in its last intraday trading, where the price moved around EMA50, to gain the required positive momentum to complete its bullish correctional wave, supported by its stability above the solid support level at 1.3840.
The technical indicators reinforce this scenario, especially with the beginning of positive overlapping signal appearance on the (RSI), after reaching exaggerated oversold levels compared to the price move, which reinforces the possibility for forming positive divergence that supports the continuation of the correctional rise.
Therefore, our expectations suggest more of the upside moves in the USDCAD price in the upcoming intraday trading, conditioned by its stability above 1.3840, to target the key resistance at 1.3975.
The expected trading range is between 1.3825 support and 1.3930 resistance.
Today’s forecast: Bullish
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USDJPY rises after surpassing the negative pressures -Analysis-25-04-2025
The USDJPY moved higher in its last intraday trading, support by positive technical factors, initially, its continuous stability above its EMA50, besides the emergence of the positive signals on the (RSI), after the pair’s success in offloading its overbought conditions.
This bullish move comes within the positive momentum that caused by the exit from a minor bearish channel range on a short-term basis, reinforcing the chances for recovery and targeting higher levels in the upcoming trading.
Therefore, our expectations suggest more of the upside moves in the USDJPY price in the upcoming intraday trading, conditioned by its stability above 142.25, to target the key resistance at 144.00.
The expected trading range is between 142.25 support and 144.00 resistance.
Today’s forecast: Bullish
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GBPUSD attempts to offload its overbought conditions -Analysis-25-04-2025
The GBPUSD declined in its recent intraday trading, in a correctional move that targets catching breaths after an intraday bullish wave, the price attempts to offload the clear overbought condition in the (RSI), easing the way for regaining its positive momentum.
This move comes amid the continuation of the trading above EMA50, which reinforces the chances for its recovery again in its upcoming moves.
Therefore, our expectations suggest the GBPUSD price rise in its upcoming intraday trading, if the price settled at 1.3250 support, to target the key resistance at 1.3420.
The expected trading range is between 1.3250 support and 1.3420 resistance.
Today’s forecast: Bullish
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EURUSD surrenders to the negative pressure-Analysis-25-04-2025
The EURUSD declined in its recent intraday trading, affected by the continuous negative pressure due to its stability below the EMA50, accompanied with a negative technical formation that completed previously on the short-term basis, which is the rising wedge pattern.
Additionally, the emergence of negative overlapping signals on the (RSI), after reaching exaggerated overbought levels compared to the price movement, reinforcing the possibility for the continuation of the oversold pressure and continuing the bearish correctional movement.
Therefore, our expectations suggest the EURUSD price decline in its upcoming intraday trading, if the price remained below 1.1430 resistance, to target the critical support at 1.1290 as a technical target for the rising wedge pattern.
The expected trading range is between 1.1290 support and 1.1430 resistance.
Today’s forecast: Bearish
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