Gold price continued to fall after breaking 1682.00, touching the targeted areas after the break, mainly 1660.00, this support is acting now a key gate for the intraday trading, as a break below it will open the way for the most important barrier at 1630.00

Stochastic shows clear oversold signals, to support the current levels’ strength, which encourages us to suggest bullish bias for today, targeting a test to 1680.00 level, and might extend to 1692.00, reminding you that settling above 1660.00 is important to achieve the waited gains.

Expected trading range for today is between: 1650.00 support and 1685.00 resistance.

Expected trend for today: Bullish 

The pair rallied to the upside sharply closing near 90.40, which represents the most important level for the short term and medium term trend, while it begins today’s trading attempting to breach this level, and these signs hint to a major turn with the trend into the upside, as a daily close above the mentioned level will provide an initial key to head towards 95.00

Now, we need to stop aside in order to monitor the dialy close and then to get confirmation signs for the next trend.

Expected trading range for today is between: 89.50 support and 91.65 resistance.

Expected trend for today: Neutral

As we mentioned in our instant technical updates messages, the pair broke 1.5820 level followed by daily close below it, which solidify the expectations for more downside correction which targets now 1.5690, this level represents 61.8% Fibonacci for the bullish wave from 1.5266 to 1.6377

EMA50 supports more decline, while stochastic provides positive signs that might keep the sideways range dominant for a while.

Expected trading range for today is between: 1.5630 support and 1.5900 resistance.

Expected trend for today: Bearish

The pair found solid resistance near 1.3400, which represents the most important level to push the price for more positive actions, while the bullish wave stops below this level, and stochastic negativity adds more reasons to this level’s strength.

In general, the bullish trend will be preferred and valid, waiting for clear breach to the mentioned level to open the way to test the critical barrier at 1.3485, noting that breaking below 1.3300 followed by 1.3250 will weaken the chances of achieving the waited rise and might lead into possible intraday turn to the downside.

Expected trading range for today is between: 1.3250 support and 1.3485 resistance.

Expected trend for today: Bullish