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Gold begins positively – Analysis - 08-03-2018
Gold price begins today’s trading with slight bullish bias after the decline that it witnessed yesterday, motivated by the positive signal provided now by stochastic, waiting to rally to breach 1335.40 followed by 1342.00 levels to confirm the continuation of the bullish trend on the intraday and short term basis, as our next main target is located at 1365.97.
Therefore, we will continue to suggest the bullish trend in the upcoming period unless we witnessed clear break and hold below 1316.48.
Expected trading range for today is between 1315.00 support and 1342.00 resistance.
Expected trend for today: Bullish
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USDCAD fails to confirm the positive stability – Analysis - 08-03-2018
The USDCAD pair provided new positive trades yesterday and rallied to test the psychological barrier 1.3000 again, but it bounced downwards strongly to settle below 1.2923 level, which hints that the price finds difficulty to hold above the mentioned level, to draw double top pattern that we believe it will push the price to turn to decline.
MoreUSDJPY retests again – Analysis - 08-03-2018
The USDJPY pair returns to provide positive trades and approaches retesting 106.35 again, met by the EMA50 that adds more strength to it, accompanied by stochastic reach the overbought areas.
MoreGBPUSD keeps its positive stability – Analysis - 08-03-2018
The GBPUSD pair shows calm positive trades after it kept its stability above 1.3854 level, to keep the bullish trend scenario valid for today, waiting to target 1.4041 level as a next station, noting that breaching this level will extend the bullish wave to reach 1.4344 on the near term basis.
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