Gold price gets a negative close – Analysis - 03-12-2021
Gold price closed yesterday below 1770.00 level, to add more confirmation to the continuation of the bearish trend on the intraday and short term basis, which targets 1734.00 as a next main station.
The EMA50 continues to press negatively on the price to support the expectations to decline, noting that failing to consolidate below 1770.00 will push the price to achieve intraday gains and test 1797.00 areas again before any new attempt to decline.
The expected trading range for today is between 1750.00 support and 1785.00 resistance.
The expected trend for today: Bearish
The USDCAD continues to rise – Analysis - 03-12-2021
The USDCAD pair shows new positive trades to move away from 1.2800 barrier, to support the continuation of the expected bullish trend scenario on the intraday and short term basis, which moves organized inside the bullish channel that appears on the chart, waiting to visit 1.2950 mainly.
We remind you that the continuation of the bullish wave depends on the price stability above 1.2725.
The expected trading range for today is between 1.2760 support and 1.2920 resistance.
The expected trend for today: Bullish
The USDJPY attempts positively – Analysis - 03-12-2021
The USDJPY pair ended yesterday below 113.07 level, which keeps the negative scenario valid for the upcoming period, supported by stochastic loss to the positive momentum clearly, besides the negative pressure formed by the EMA50, waiting to visit 112.30 as a next correctional target.
On the other hand, we should note that surpassing 113.07 and consolidating above it will stop the suggested decline and lead the price to attempt to return to the main bullish track again.
The expected trading range for today is between 112.30 support and 113.60 resistance
The expected trend for today: Bearish
The GBPUSD begins negatively - Analysis - 03-12-2021
The GBPUSD pair opens today’s trading with new bearish bias to move below 1.3300 barrier, reinforcing the expectations of continuing the bearish trend, supported by stochastic and the EMA50 negativity, waiting to head towards 1.3160 that represents our next main target.
Holding below 1.3355 and 1.3405 is important to continue the expected bearish trend, as breaching them will push the price out of the bearish channel that appears on the chart and lead to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 1.3180 support and 1.3355 resistance.
The expected trend for today: Bearish