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DAILY TECHNICAL ANALYSIS FOR JANUARY 13, 2023

EUR/USD

Midday update for the EURUSD

The EURUSD pair settles around 1.0850 level since morning, and as long as the price is above 1.0745, our bullish overview will remain valid for today, supported by the EMA50 that carries the price from below, reminding you that our next main target reaches 1.0915.

The expected trading range for today is between 1.0770 support and 1.0940 resistance.

The expected trend for today: Bullish

USD/JPY

The USDJPY suffers strong losses

The USDJPY pair declined sharply yesterday to surpass our waited targets and reach the critical support line to the short term and medium term trades at 128.90, trading within main bearish channel that supports the chances of breaking this level to open the way to continue the decline and achieve additional negative targets that reach 126.95.

Therefore, the bearish trend scenario will remain dominant in the upcoming sessions, taking into consideration that failing to break 128.90 will lead the price to start recovery attempts and head towards 130.80 initially.

The expected trading range for today is between 128.00 support and 129.90 resistance

The expected trend for today: Bearish

GBP/USD

Midday update for the GBPUSD

The GBPUSD pair crawls upwards in attempt to resume the main bullish trend, to keep the positive scenario valid for today supported by the EMA50, waiting to visit 1.2440 as a next main target, reminding you that it is important to hold above 1.2120 to continue the expected rise.

The expected trading range for today is between 1.2100 support and 1.2290 resistance.

The expected trend for today: Bullish

Midday update for Gold

Gold price shows additional positive trades to breach 1900.00 and confirm the continuation of the bullish trend domination in the upcoming sessions, opening the way to head towards 1928.60 as a next positive station, waiting for more rise for the rest of the day conditioned by the price stability above 1882.00.

The expected trading range for today is between 1885.00 support and 1925.00 resistance.

The expected trend for today: Bullish

Source: Technical analysis

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