fbpx

DAILY TECHNICAL ANALYSIS FOR APRIL 06, 2022

EUR/USD

The EURUSD hits the second target 

The EURUSD pair resumed its negative trading strongly to touch our waited target at 1.0900 and settles there, and we expect the continuation of the negative pressure to surpass this level and open the way to extend the bearish wave towards 1.0775.

Therefore, the bearish trend will remain active for the upcoming period supported by the EMA50, noting that the continuation of the bearish wave requires holding below 1.0120.

The expected trading range for today is between 1.0830 support and 1.0970 resistance.

The expected trend for today: Bearish

USD/JPY

The USDJPY hits the first target

The USDJPY pair rallied upwards to succeed achieving our first waited target at 123.40, reinforcing the expectations of continuing the main bullish trend, waiting for more positive trading to visit 125.00 as a next target.

The EMA50 continues to support the suggested bullish wave, reminding you that it is important to hold above 122.62 to continue the expected rise.

The expected trading range for today is between 123.10 support and 124.20 resistance

The expected trend for today: Bullish

GBP/USD

The GBPUSD resumes the decline

The GBPUSD pair bounced downwards strongly after testing 1.3145 in the previous sessions, to support the continuation of the expected bearish trend for the upcoming period, and the way is open to head towards our waited target at 1.3000.

The EMA50 forms negative pressure that supports the expectations to decline, reminding you that it is important to hold below 1.3145 to achieve the waited targets.

The expected trading range for today is between 1.2990 support and 1.3145 resistance.

The expected trend for today: Bearish

Gold price declines again 

Gold price ended yesterday with clear negativity to settle below 1925.35, which reactivates the intraday bearish trend scenario, waiting for more decline to visit 1890.00 as a main negative target.

Therefore, we expect to witness more decline in the upcoming sessions, noting that the continuation of the bearish wave requires holding below 1925.35 and 1940.00 levels.

The expected trading range for today is between 1890.00 support and 1935.00 resistance.

The expected trend for today: Bearish

Source: Technical analysis

Share this post

Comments (1,279)