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Gold price forecast update 07-11-2024
Gold price finds solid support at 2675.00$, as it shows some slight bullish bias now, affected by stochastic positivity, but we will continue to suggest the bearish trend in the upcoming sessions after breaking the bullish channel’s support line that appears on the chart, reminding you that our next target reaches 2600.00$.
Note that the continuation of the bearish wave depends on the price stability below 2696.85$ and 2718.80$ levels.
The expected trading range for today is between 2630.00$ support and 2675.00$ resistance.
Trend forecast: Bearish
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The GBPUSD forecast update 07-11-2024
The GBPUSD price shows bullish bias to test the EMA50 that forms good resistance against the price, waiting to resume the negative trades to break 1.2866$ and confirm extending the bearish correction towards 1.2735$.
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The EURUSD price trades positively to test the key resistance 1.0775$, affected by stochastic positivity, which urges caution from the upcoming trading, as the price needs to hold below this level to keep the bearish trend active for today, noting that breaking 1.0725$ will ease the mission of achieving our negative targets that start at 1.0650$ and extend to 1.0570$.
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