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Gold price faces solid resistance – Forecast today - 02-10-2024
Gold price found solid barrier at the main bullish channel’s resistance line that appears on the chart, and couldn’t manage to breach it, accompanied by witnessing clear negative signals through stochastic, which supports the chances of bouncing bearishly in the upcoming sessions, to head towards testing 2629.00$ as a next main target.
Therefore, we expect to witness negative trades today, noting that breaking the targeted level will push the price to suffer additional losses that reach 2585.00$ followed by 2575.00$ areas, while breaching 2670.00$ will stop the negative scenario and lead the price to resume the main bullish track again.
The expected trading range for today is between 2635.00$ support and 2670.00$ resistance.
Trend forecast: Bearish
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The USDCAD price under the negative pressure – Forecast today - 02-10-2024
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