Gold price rises again – Analysis - 28-12-2018
Gold price ended yesterday’s trading above the bullish channel’s resistance, to confirm the continuation of the bullish bias on the intraday basis, which targets testing 61.8% Fibonacci correction level at 1286.70 as a next station.
Therefore, the bullish trend will be suggested in the upcoming sessions unless breaking 1270.00 and holding below it, noting that breaching the targeted level will extend Gold price gains to reach 1316.65 on the near term basis.
Expected trading range for today is between 1265.00 support and 1300.00 resistance.
Expected trend for today: Bullish
USDCAD fails to breach – Analysis - 28-12-2018
The USDCAD pair attempted to breach the bullish channel’s resistance but it couldn’t manage to hold above it, to witness negative signals through the recent candlesticks’ closings, which leads us to suggest bearish reversal on the intraday basis, targeting visiting the mentioned channel’s support at 1.3425.
Therefore, the bearish bias will remain suggested in the upcoming sessions unless breaching 1.3630 level and holding with a daily close above it.
Expected trading range for today is between 1.3530 support and 1.3670 resistance.
Expected trend for today: Bearish
USDJPY resumes the decline – Analysis - 28-12-2018
The USDJPY pair bounced bearishly yesterday to approach 110.38 level now, falling under continuous negative pressure that comes by the EMA50, to support the chances of breaking the mentioned level and open the way to head towards our waited targets at 109.75 followed by 109.35.
Therefore, the bearish trend will remain active in the upcoming period conditioned by the price stability below 111.97.
Expected trading range for today is between 109.75 support and 111.00 resistance
Expected trend for today: Bearish
GBPUSD awaits the confirmation – Analysis - 28-12-2018
The GBPUSD pair still confined between 1.2636 support and 1.2725 resistance, which keeps our neutrality valid until now, waiting to breach one of these levels to detect its next destination clearly.
We remind you that breaking the support will press the price to resume the main bearish trend that its next target located at 1.2500, while breaching the resistance will motivate the price to achieve positive targets that extend to reach 1.2962.
Expected trading range for today is between 1.2580 support and 1.2725 resistance.
Expected trend for today: Depends on the above mentioned levels