Gold price forecast update 09-08-2024

The GBPUSD price continues to fluctuate around 1.2760$ and attempts to consolidate below it, to keep the bearish trend scenario valid until now, supported by the negative pressure formed by the EMA50, waiting to head towards 1.2670$ as a first station, reminding you that the continuation of the bearish wave requires holding below 1.2760$ and 1.2790$.

The EURUSD price shows slight bullish bias to crawl towards 1.0947$, and as long as the price is below this level, our bearish overview will remain valid for today, supported by stochastic loss to the positive momentum, reminding you that our main waited target is located at 1.0805$.

The NZDCAD price succeeded to confirm moving to the bullish track by surpassing the sideways range’s resistance line at 0.8230, forming strong bullish rally to press on the MA55 at 0.8275.