Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD

Midday update for GBP USD 24/05/2013

Economies.com
2013-05-24 11:12AM UTC

The pair shows some slight bullish bias since morning, and remains stable below 1.5190, which allows us to continue in our waited bearish trend expectations for today, supported by Stochastic reach the overbought levels.

 

Expected trading range for today is between: 1.4820 support and 1.5190 resistance.

 

Expected trend for today: Bearish

 

Midday update for EUR USD 24/05/2013

Economies.com
2013-05-24 11:12AM UTC

The pair retested 1.2990 again this morning, and remains below it, which keeps our suggested bearish trend expectations for today valid, being aware that breaching the mentioned level will open the gate of an upside rally that reaches towards 1.3145 – 1.3185

 

Expected trading range for today is between: 1.2725 support and 1.3000 resistance.

 

Expected trend for today: Bearish

Platinum attempts to resume its negativity 24/5/2013

Economies.com
2013-05-24 08:10AM UTC

Platinum achieved 1447.50 yesterday after surpassing the initial support level 1460.00 to settle in negative level below the previous support, thus we expect the continuation of platinum attempts to achieve bearish levels in the near and medium period if the main resistance level 1520.00 remains intact.

 

By the above chart we notice Stochastic stability in negative level which makes us wait for getting negative signal to continue in the bearish expectation reaching 1420.00 followed by 1400.00 as main targets for the negative trading.

 

Expected trading range is between 1460.00 and 1420.00

 

Expected trend for today: bearish

Copper continues in the sideways trading 24/5/2013

Economies.com
2013-05-24 08:10AM UTC

Copper trading continues in tight range after hitting 3.2500 in yesterday’s trading to notice forming bullish wave since morning, as copper contradicts with Stochastic which supports the bearish expectation by settling below 50 level.

 

Thus we prefer the sideways trading for today until breaking 3.2200 to reach the second and suggested target around 3.1200, carefully note that the continuation of the trading below the moving average supports the bearish bias in the near and medium period.

 

Expected trading range is between 3.3800 and 3.2200

 

Expected trend for today: sideway until surpassing the previous levels.