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Gold price gets negative signal – Analysis - 01-05-2023
Gold prices begins today with new negativity to press on the symmetrical triangle’s support line that rises now to 1982.00, motivated by stochastic negativity, waiting to break this level to confirm heading towards our next target at 1957.30, which represents 38.2% Fibonacci correction level for the rise that started from 1809.35 areas.
The EMA50 forms negative pressure that supports the continuation of the bearish wave in the upcoming sessions, and breaking the targeted level will extend the correctional bearish wave to reach 1930.00 areas.
On the other, we should note that breaching 1992.20 followed by 2007.00 levels will stop the negative scenario and lead the price to regain the main bullish trend again.
The expected trading range for today is between 1960.00 support and 1995.00 resistance.
The expected trend for today: Bearish
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The USDCAD declines strongly – Analysis - 01-05-2023
The USDCAD pair traded with strong negativity in the previous sessions to reach the EMA50, waiting for more decline to test 1.3500 level that represents our main target, being aware that it is important to monitor the price at this level, due to its importance to detect the next trend.
MoreThe USDJPY achieves strong gains – Analysis - 01-05-2023
The USDJPY pair soared on last Friday to surpass our waited target at 135.65 and opens the way to visit the extended target at 137.70, as it begins today with additional rise to surpass the bullish channel’s resistance, reinforcing the chances of continuing the bullish trend in the upcoming sessions.
MoreThe GBPUSD surpasses the target - Analysis - 01-05-2023
The GBPUSD pair rallied upwards strongly to surpass our waited target at 1.2550 and settles above it, opening the way to continue the rise on the intraday and short term basis, to head towards visiting 1.2650 areas as a next main station.
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