Gold price achieves bearish correction – Analysis - 06-12-2022
Gold price’s decline stopped at 23.6% Fibonacci correction level for the rise measured from 1616.65 to 1810.00, to start today with bullish bias and attempt to regain the main bullish trend, accompanied by witnessing clear positive signals through stochastic, which encourages us to suggest the bullish bias in the upcoming session and head to achieve gains that start at 1800.00 followed by 1810.00.
Breaching 1777.00 will ease the mission of achieving the suggested targets, noting that breaking 1764.40 will stop the expected rise and press on the price to suffer more losses.
The expected trading range for today is between 1760.00 support and 1795.00 resistance.
The expected trend for today: Bullish
The USDCAD achieves strong gains – Analysis - 06-12-2022
The USDCAD pair traded with strong positivity yesterday to breach 1.3500 and settles near 1.3600 barrier, to head towards achieving more expected gains in the upcoming sessions, on its ways to visit 1.3680 as a next main target.
The EMA50 supports the expected rise, which will remain valid as long as 1.3500 level remains intact.
The expected trading range for today is between 1.3500 support and 1.3670 resistance.
The expected trend for today: Bullish
The USDJPY breaches the resistance – Analysis - 06-12-2022
The USDJPY pair rallied upwards strongly yesterday to breach 136.50 level and close the daily candlestick above it, which leads the price to recover and achieve intraday gains, on its ways to visit 137.50 followed by 139.45 after surpassing the previous level.
Therefore, the bullish bias will be suggested for today, noting that breaking 136.50 and holding below it again will press on the price to resume the bearish trend that its next main target located at 132.75.
The expected trading range for today is between 136.00 support and 138.00 resistance
The expected trend for today: Bullish
The GBPUSD gathers the positive momentum - Analysis - 06-12-2022
The GBPUSD pair continued to decline to approach the key support 1.2130, noticing that the price attempts to recover now, motivated by the positive signals provided by stochastic, waiting to resume the bullish wave that targets 1.2465 as a next main station.
Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 1.2130.
The expected trading range for today is between 1.2130 support and 1.2300 resistance.
The expected trend for today: Bullish