Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD

Gold price forecast update 05-11-2024

Economies.com
2024-11-05 09:20AM UTC

Gold price trades positively now to approach testing the key resistance at 2746.00$, which urges caution from the upcoming trading, as the price needs to hold below this level to guarantee the continuation of the correctional bearish scenario and not turning to the main bullish track again, reminding you that the negative targets begin at 2718.80$ and extend to 2697.00$ after breaking the previous level.

 

The expected trading range for today is between 2710.00$ support and 2745.00$ resistance.

 

Trend forecast: Bearish

The GBPUSD forecast update 05-11-2024

Economies.com
2024-11-05 09:20AM UTC

The GBPUSD price shows new bullish bias to approach 1.3000$ level, and as long as the price is below this level, the correctional bearish trend scenario will remain valid and active for today, reminding you that our first main target is located at 1.2866$.

 

The expected trading range for today is between 1.2860$ support and 1.3040$ resistance

 

Trend forecast: Bearish

The EURUSD price forecast update - 05-11-2024

Economies.com
2024-11-05 09:20AM UTC

The EURUSD price resumes its positive trading calmly to move away from 1.0865$ level gradually, reinforcing the expectations of continuing the bullish trend for the rest of the day, motivated by the positive overlapping signal provided by stochastic now, reminding you that our waited targets start at 1.0930$ followed by 1.0985$, while achieving them requires holding above 1.0865$.

 

The expected trading range for today is between 1.0810$ support and 1.0970$ resistance

 

Trend forecast: Bullish

The CADJPY leans above the moving average – Forecast today – 5-11-2024

Economies.com
2024-11-05 05:49AM UTC

The CADJPY price took advantage of the MA55 consolidation near 109.15 support line to start forming bullish waves and settle near 109.75.

 

Also, stochastic begins to provide the positive momentum to increase the efficiency of the bullish track, to expect rallying towards 110.35 level soon, while surpassing this obstacle will push the price to achieve additional gains by moving towards 110.70 and 111.20 levels.

 

The expected trading range for today is between 109.20 and 110.35

 

Trend forecast: Bullish