Gold price opened today with additional strong decline to succeed touching our waited extended target at 1630.00, and continues to move inside the bearish channel that has additional negative targets that reach 1615.00, to continue suggesting the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50.

On the other hand, we should note that breaching 1664.00 will stop the current negative pressure and lead the price to start correctional bullish wave and cover some losses that it suffered recently.

The expected trading range for today is between 1615.00 support and 1655.00 resistance.

The expected trend for today: Bearish

Previous Analysis

Next Analysis

Main

Forex

Indices

	Symbol	Last	Change	Chg.%
	EUR/USD	1.0511	-0.0079	0.7471%
Midday update for the EURUSD 06-12-2022
	GBP/USD	1.2211	-0.0095	0.7681%

	Silver	22.399	-0.757	3.271%

	Oil	75.790	-5.685	6.978%
Midday update for Crude oil 06-12-2022
	Brent Oil	81.47	-1.01	1.22%

	Gold	1778.280	-17.280	0.962%
Midday update for Gold 06-12-2022

Live Forex Updates

Dollar extends recovery after strong data

2022-12-06 11:52:53 GMT

RBA hikes interest rates in line with expectations

2022-12-06 08:19:50 GMT

Euro backs off six-month high on profit-taking

2022-12-06 08:15:59 GMT

Dollar sharpens decline to six-month nadir

2022-12-05 11:29:04 GMT

Risk Disclaimer: Economies.com is a financial portal that provides news and analysis about the different financial markets. The articles that we serve on the portal depend solely on the opinion and analysis of our economists which in no way are intended to incite a visitor of the website or an investor to trade or sell/buy a certain instrument. It is the responsibility of the visitor / trader only to evaluate his trading strategies and whether he is capable of trading with taking into consideration that losing all the capital invested is a possibility. The visitor should seek an independent professional financial advisor to discuss his or her trading strategies. Moreover, the provided rates for the different instruments are indicative only and cannot be used for trading purposes. Therefore, no responsibility can be imposed on Economies.com and the company operating the portal for any loss of money that may occur to the visitor by using the website.