As part of today’s intraday outlook, BestTradingSignal.com, featured by Economies.com, has issued a new signal for gold (XAUUSD), offering multiple profit targets and a well-defined risk management level.
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This signal reflects a short-term bearish expectation for gold. The entry zone is well-placed for potential downside movement, with risk controlled through a defined stop loss. Traders are advised to monitor price action around the entry range and manage their positions accordingly.
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Disclaimer: All trading signals provided are for educational and analytical purposes only. They do not constitute financial advice or a direct recommendation to buy or sell any financial instrument. Trading in financial markets involves significant risk and may result in the loss of your capital. Always seek independent financial advice before making any investment decisions.
Despite the strong negative pressure on coffee prices due to its stability below the support of the broken minor channel’s support at 311.00 besides providing negative momentum by the main indicators, but its stability above the support base at 276.70 supports the chances for forming bullish waves, to fluctuate near 297.50.
Stochastic attempt to provide positive momentum that will increase the chances for targeting 311.00 level, surpassing it is important for regaining the bullish bias, then begin recording several gains by its rally to 328.00.
The expected trading range for today is between 284.00 and 311.00
Trend forecast: Bullish
Despite the rally of the EURJPY pair yesterday above 170.45 level, that will not confirm regaining the bullish bias due to the continuation of the main indicators’ contradiction besides forming a strong extra barrier against the current trading.
And that makes us wait for gathering the negative momentum again, which allows it to resume gathering the gains and forming bearish correctional waves to target 169.35 reaching the extra support near 168.45.
The expected trading range for today is between 169.35 and 171.25
Trend forecast: Bearish
The GBPJPY pair repeated its fluctuation below the barrier at 196.60 level, forcing it to activate with stochastic negativity, forming new bearish waves to press on the moving average 55 at 195.35.
We expect forming sideways trading, but its repeated negative stability below 196.60 confirms its surrender to the bearish scenario, which forces it to suffer extra losses by reaching 194.55 followed by 50%Fibonacci correction level at 194.10.
The expected trading range for today is between 194.10 and 196.00
Trend forecast: Bearish