Gold price closes below the resistance – Analysis - 27-12-2018
Gold price closed yesterday’s trading below 1270.00 level, which reactivates the expected bearish trend scenario on the intraday basis, which depends on the trading nature inside the price channels, waiting to break 1262.50 level to confirm rallying towards 1238.30 that represents the next main target of the suggested bearish wave.
We should note that confirming breaching 1270.00 will stop the suggested negative scenario and lead the price to head towards 1286.70 direct.
Expected trading range for today is between 1255.00 support and 1280.00 resistance.
Expected trend for today: Bearish
USDCAD gets a positive signal – Analysis - 27-12-2018
The USDCAD pair shows sideways trades since yesterday and settles near the bullish channel’s resistance, noticing that stochastic overlaps positively now, which forms positive motive that we are waiting to assist to push the price to test 1.3620 level to open the way to target 1.3792 level as a next positive station.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 1.3525.
Expected trading range for today is between 1.3550 support and 1.3670 resistance.
Expected trend for today: Bullish
USDJPY achieves some gains – Analysis - 27-12-2018
The USDJPY pair provided clear positive trades yesterday to test 111.40 level, and it begins to rebound bearishly now, on its way to visit 110.38 level again, waiting to break this level to confirm rallying towards our next negative targets located at 109.75 followed by 109.35.
In general, we will continue to suggest the bearish trend on the intraday and short term basis, supported by stochastic negativity that appears clearly now, unless breaching 111.97 level and holding above it.
Expected trading range for today is between 110.00 support and 111.40 resistance
Expected trend for today: Bearish
GBPUSD continues to fluctuate – Analysis - 27-12-2018
The GBPUSD pair keeps fluctuating between the key levels represented by 1.2636 support and 1.2725 resistance without managing to breach any of them until now, and as we mentioned in our recent reports, the price needs to confirm breaching one of these levels to detect its next targets clearly.
Therefore, our neutrality will remain valid until now, and to review the details of the expected targets after the breach, please check our morning report.
Expected trading range for today is between 1.2580 support and 1.2725 resistance.
Expected trend for today: Depends on the above mentioned levels