Gold price broke 1300.00 and settled with a daily close below it, opening the way towards more expected bearish bias on the intraday basis, which is organized by the bearish channel that appears in the image.

The target now is testing 1256.00, taking into consideration that breaching 1300.00 will push the price to visit the bearish channel’s resistance around 1340.00 before detecting the next track on the intraday basis.

Expected trading range for today is between: 1256.00 support and 1310.00 resistance.

Expected trend for today: Bearish

The pair begins today’s trading with slight positive bias, affected by the positive signals that comes from Stochastic, while our neutral attitude remains valid until now, waiting for surpassing one of the intraday trend keys which are represented by 1.0355 resistance and 1.0260 support, and to recognize the expected targets from the breach, please take a look at our previous report.

Expected trading range for today is between: 1.0250 support and 1.0440 resistance.

Expected trend for today: Neutral

The pair succeeded to retest the broken bullish channel’s support, bouncing to the downside, supported by the EMA50, to keep the bearish trend expectations efficiently, and the first target is attempting to break 97.10 to open the way towards 95.80 

The bearish trend expectations remain valid conditioned by holding below 98.85

Expected trading range for today is between 96.20 support and 98.45 resistance.

Expected trend for today: Bearish

The pair’s trading bounced lower after approaching from the bullish channel’s resistance, which makes the bearish bias preferred on the intraday basis temporarily, and the target is attempting to lean on the EMA50 which represents support now at 1.6080 before resuming the bullish trend again.

You should be aware that breaking 1.6080 will make the current bearish wave extends towards 1.5865

Expected trading range for today is between: 1.6000 support and 1.6300 resistance.

Expected trend for today: Temporarily bearish