|
End of day analysis for Gold 12-03-2020
Gold price suffered sharp losses after breaking 1633.60 level, as it declined to touch the main bullish channel’s support line, noting that the price awaits bullish rebound to resume the main bullish trend within the mentioned channel, but we need to confirm the consolidation above 1555.00 to start new bullish wave that targets 1633.60 followed by 1689.30 areas, taking into consideration that breaking 1555.00 will cause extension to Gold price losses to reach 1509.00 as a next station.
Thanks for your feedback.
End of day analysis for the EURUSD 12-03-2020
The EURUSD pair traded with strong negativity to achieve our second target at 1.1136 and touches 61.8% Fibonacci correction level, noticing that the price bounced upwards quickly from there to settle above the previously breached resistance of the bearish channel, to hint the price head to resume the main bullish trend, and we need to monitor today’s close to confirm the next destination, as consolidating above 1.1050 will lead the price to achieve positive targets that start at 1.1325 and extend to 1.1457.
MoreMidday update for Wheat price 12-03-2020
Wheat price managed to break 503.70 level and attempts to hold below it, which supports the continuation of the bearish trend scenario efficiently in the upcoming period, and the price needs to get a daily close below this level to confirm rallying towards 483.20 that represents our next main target, noting that it is important to hold below 503.70 to continue the expected decline.
MoreMidday update for Sugar price 12-03-2020
Sugar price resumes its negative trading to move below 12.00$ barrier, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, and the way is open to achieve our waited target at 11.55, reminding you that the continuation of the bearish wave conditions holding below 12.44.
More