Gold Price Analysis

Expected Scenario

• Gold price achieved initial break to 2325.90$ and closed the last four hours’ candlestick below it, reinforcing the expectations of continuing the bearish trend efficiently in the upcoming sessions.
• This opens the way to target 38.2% Fibonacci correction level at 2260.60$.
• Therefore, our bearish overview will remain valid for today, noting that holding below 2325.90$ represents initial condition to the continuation of the expected decline.
• Breaching it will lead the price to start recovery attempts that target testing the most important resistance for the intraday trades at 2368.50$.

Expected Trading Range

Between the support at 2300.00$ and the resistance at 2345.00$.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price trades negatively now to confirm the continuation of the bearish bias domination on the intraday basis.
• This targets testing 1.2480$ as a next main station.
• It is important to monitor the price when reaching the targeted level, as breaking it will push the price to suffer additional losses and head towards 1.2385$ as a next target.
• The expected decline will remain valid unless the price rallied to breach 1.2580$ and hold above it.

Expected Trading Range

Between the support at 1.2460$ and the resistance at 1.2600$.

EURUSD Price Analysis

Expected Scenario

• The EURUSD price shows new negative trades to press on the bearish flag pattern’s support line mentioned this morning.
• This reinforces the expectations of continuing the bearish trend for the rest of the day, waiting to confirm the activation of the negative effect of the mentioned pattern followed by rallying towards our expected target at 1.0615$.
• Stochastic supports the expectations to decline, which will remain valid unless breaching 1.0715$ and holding above it.

Expected Trading Range

Between the support at 1.0620$ and the resistance at 1.0770$.

GBPCAD Price Analysis

Expected Scenario

• The GBPCAD price concluded recent trades with a positive close above the 1.7125 resistance line, achieving gains up to 1.7165.
• Consolidation of the MA55 below the breached resistance is expected to reinforce the formation of new support against bullish trades.
• Stochastic reaching overbought areas will provide the price with new positive momentum, suggesting further positivity extending towards 1.7195 and 1.7255 soon.

Expected Trading Range

Between 1.7125 and 1.7195.