EUR/USD price achieves noticeable gains
The EUR/USD price continued to rise yesterday to close the daily candle above the $1.0325 level, to obtain a positive incentive that we expect will push the price to achieve more rise during the upcoming sessions, on its way to visit the $1.0455 level as a next positive target.
Therefore, the bullish bias will be likely for today, taking into account that failure to consolidate above $1.0325 will put the price under negative pressure again, to head towards testing the $1.0220 areas initially.
Expected trading range for today between support $1.0240 and resistance $1.0410
Today’s price forecast: High
The British pound is recovering
We pushed the price of the British pound against the dollar strongly upward yesterday to break the resistance of the descending channel, followed by breaking the $1.2415 level and stabilizing above it, to stop the negative scenario and return to the upward corrective path again, and we expect the upward trend to continue to visit the $1.2605 level as a next positive target.
Expected trading range for today between support $1.2350 and resistance $1.2510
Today’s price forecast: High
Dollar vs. Yen faces new negative pressures
The dollar vs. yen price was exposed to new negative pressure yesterday, as it broke the 154.96 level and approached the 153.75 level, but it returned to trade above the first level, and we expect to witness sideways trading between the support 153.75 and the resistance 156.45 during the upcoming sessions, and the price needs to exceed one of these two levels to determine its next destination more clearly.
Hence, the sideways trend will dominate the intraday, noting that breaking the mentioned resistance will lead the price to resume the main upward trend and achieve new gains reaching 158.00 then 158.87, while breaking the support will pressure the price to make an additional bearish correction targeting the 152.55 level as a next negative station.
Expected trading range for today between support 154.00 and resistance 156.10
Today’s price forecast: Sideways
