Gold price forecast update 29-07-2024
Gold price still stuck between the trend keys represented by 2366.40$ support and 2394.00$ resistance, to keep our neutrality valid until now, waiting to surpass one of these levels to keep our neutrality valid until now, waiting to surpass one of these levels to detect the next destination clearly.
To review the details of the expected targets after the breach, please check our previous report for gold price.
The expected trading range for today is between 2375.00$ support and 2415.00$ resistance.
Trend forecast: Neutral
The GBPUSD forecast update 29-07-2024
The GBPUSD price bounced downwards strongly to surpass our first target at 1.2830$ and open the way to continue the decline in the upcoming sessions, waiting to test 1.2780$ as a next station, and we suggest breaking this level to achieve our additional negative targets that extend to 1.2730$.
Therefore, the bearish trend scenario will remain valid and active for today conditioned by the price stability below 1.2880$.
The expected trading range for today is between 1.2800$ support and 1.2945$ resistance.
Trend forecast: Bearish
The EURUSD price forecast update - 29-07-2024
The EURUSD price trades with clear negativity to break the bearish flag’s support line and attacks 1.0840$ now, reinforcing the expectations of continuing the bearish trend for the rest of the day, as it gets negative motive that we expect to assist to push the price to head towards 1.0860$ followed by 1.0774$ levels that represent our next main targets.
The technical indicators support the expected bearish trend, which will remain valid unless the price rallied to breach 1.0880$ and hold above it.
The expected trading range for today is between 1.0785$ support and 1.0910$ resistance.
Trend forecast: Bearish
The EURCAD repeats the positive closings – Forecast today – 29-7-2024
No change to the EURCAD price that keeps providing new positive closings above 1.4965 support line, to notice recording some gains recently by reaching 1.5025.
Now, stochastic crawl towards the overbought areas will increase the chances of gathering the additional positive momentum to expect providing new bullish waves and target 1.5055 followed by reaching the next main target at 1.5070.
The expected trading range for today is between 1.4980 and 1.5055
Trend forecast: Bullish