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Gold faces the moving average – Analysis - 20-10-2017
Gold price ended yesterday's trading above 1281.17 level, but it faces solid resistance formed by the EMA50 against the positive attempts, which pushes the price to decline again, accompanied by witnessing negative overlapping signal through stochastic.
Therefore, we believe that the bearish bias will dominate the upcoming trading, and breaking 1281.17 level will confirm opening the way to head towards 1263.15, while the expected decline will remain valid unless the price managed to breach 1299.20 level and hold above it.
Expected trading range for today is between 1263.00 support and 1290.00 resistance.
Expected trend for today: Bearish
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USDCAD loses momentum – Analysis - 20-10-2017
The USDCAD pair shows some slight bullish bias now after testing the key support 1.2470, noticing that stochastic loses its positive momentum clearly to reach the overbought areas, which forms negative motive that we are waiting to assist to push the price to resume the bearish bias again.
MoreUSDJPY approaches from the first target – Analysis - 20-10-2017
The USDJPY pair resumes its bullish rally strongly now after leaning on the EMA50, to reach the thresholds of the first waited target at 113.44, motivated by the positive overlapping signal that appears on stochastic, waiting to breach the mentioned level to confirm extending the bullish wave towards 114.50.
MoreGBPUSD attacks the key support – Analysis - 20-10-2017
The GBPUSD pair begins today's trading with clear negativity to attack the key support 1.3096 after yesterday's trading stability below the bullish channel's support that appears on chart, which hints the price head to suffer more losses in the upcoming period, noting that confirming breaking the mentioned support will push the price towards 1.2973 direct.
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