Gold price needs a strong positive motive – Analysis - 03-07-2020
Gold price keeps moving around the intraday bullish channel’s support line, getting continuous positive support by the EMA50, waiting to get enough positive momentum to push the price to resume the main bullish wave, which targets 1800.00 followed by 1850.00 levels.
Therefore, we will keep our bullish overview conditioned by the price stability above 1770.00 and the most important above 1750.00.
The expected trading range for today is between 1760.00 support and 1800.00 resistance.
The expected trend for today: Bullish
The USDCAD resumes the decline – Analysis - 03-07-2020
The USDCAD pair begins to decline after testing 1.3612 level in the previous sessions, to keep the bearish trend scenario valid and active for the upcoming sessions, supported by the negative pressure formed by the EMA50, waiting to head towards 1.3500 followed by 1.3362 levels as next main targets.
On the other hand, we should note that breaching 1.3612 followed by 1.3655 levels will stop the suggested decline and leads the price to turn to rise.
The expected trading range for today is between 1.3470 support and 1.3612 resistance.
The expected trend for today: Bearish
The USDJPY gets a negative signal – Analysis - 03-07-2020
The USDJPY pair settles below 107.68 level, noticing that stochastic provides negative overlapping signal now, waiting to motivate the price to resume the negative trading in the upcoming sessions, as our main expected target is located at 106.44.
Therefore, we will keep our bearish overview for today, reminding you that it is important to hold below 107.68 to continue the suggested decline.
The expected trading range for today is between 106.70 support and 108.00 resistance
The expected trend for today: Bearish
The GBPUSD faces solid resistance – Analysis - 03-07-2020
The GBPUSD pair found difficulty to surpass 1.2515 level, to trade negatively and start moving away from this level, which hints that the price is on its way to decline and achieve negative targets that start at 1.2415 and extend to the key support 1.2304.
Therefore, we suggest witnessing negative trades today, taking into consideration that breaching 1.2515 will stop the expected decline and leads the price to resume the intraday bullish wave.
The expected trading range for today is between 1.2360 support and 1.2530 resistance.
The expected trend for today: Bearish