Gold price found strong resistance at the morning mentioned barrier at 1400.00, bouncing lower sharply heading to test the critical support barrier at 1368.00

And as we mentioned in our morning report, monitoring the price behavior according to the mentioned levels is required to get clearer confirmation signals for the trend, pointing that the EMA50 and Stochastic are pushing negatively which forces the price to decline currently.

Expected trading range for today is between: 1370.00 support and 1425.00 resistance.

Expected trend for today: Neutral

The pair managed to resume the decline to break below 1.5190 again, reinforcing our bearish trend expectations for today, which remains valid unless breaching 1.5285 and holding above it.

Expected trading range for today is between: 1.5035 support and 1.5325 resistance.

Expected trend for today: Bearish

The pair trades with slight bearish bias since morning affected by Stochastic negativity, keeping the morning suggested bearish trend scenario valid and active until now, supported by the EMA50.

We remind you that holding below 1.2970 is important for the continuation of these expectations.

Expected trading range for today is between: 1.2725 support and 1.2970 resistance.

Expected trend for today: Bearish

The pair is affected in yesterday’s trading with short term positive bias to achieve 132.30 which represents an obstacle against reaching 133.10 as a top level for the bullish channel to conflict with Stochastic which provided negative bias by falling from 80 level which supports the continuation of the sideways trading until this moment.

In general, we must remind you that the pair remains affected by the bullish bias conditioned by the stability of the initial support level 130.60 which is supported by the moving average 55 as appears in the above chart, therefore we keep expecting the positivity in the near period to achieve 133.10 if the previous support remains intact.

Expected trading range is between 133.10 and 131.65

Expected trend: bullish