Gold declined yesterday after a continuous stability for 1692.00, where it is testing now the minor support level around 1682.00, which represents the meeting of the minor bullish trend line and EMA50.

Stochastic enters the oversold levels, that provide a support for the chances of the bullish trend return again, and this encourages us to prefer the intraday bullish trend which remains valid unless 1682.00 was broken and held below it.

The waited targets starting at 1692.00 followed by 1704.00

Expected trading range for today is between: 1670.00 support and 1704.00 resistance.

Expected trend for today: Bullish 

The pair a accomplished a breach for the minor bearish channel resistance to rally higher approaching from the critical resistance 1.0030, and this forces us to stay aside temporarily waiting for being certain from the upcoming trend.

Note that breaching 1.0030 will turn the intraday trading to the upside and followed by visiting levels around 1.0180, while breaking 0.9885 will reiterate the bearish trend again.

Expected trading range for today is between: 0.9850 support and 1.0100 resistance.

Expected trend for today: Neutral

The pair found a good support at 88.00 forced it to bounce higher as appears in the above chart, but holding below 89.00 will keep the chances of retesting 87.50 valid.

Therefore, the bearish bias will remain preferred for today, with being aware that breaching 89.00 will open the way for heading to test the most sensitive resistance for the short and medium term trend at 90.40.

Expected trading range for today is between: 87.50 support and 89.50 resistance.

Expected trend for today: Bearish

The pair traded in sideways range yesterday, and didn’t provide a clearer signal for the next trend until now, where we mentioned yesterday that breaking below 1.5820 will motivate the price for more bearish correction, but the continuous steadiness of this level might form a signal for a potential stopping of the bearish correction at this level.

Therefore, we prefer staying in our neutral attitude until breaking the aforementioned level or breaching 1.5950 and followed by the return of the general bullish trend.

Expected trading range for today is between: 1.5690 support and 1.5950 resistance.

Expected trend for today: Neutral