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Gold price tests the resistance – Analysis - 05-10-2021
Gold price found solid resistance at 1770.00 level, and couldn’t breach it, to start declining by today’s open, which keeps our bearish overview valid for the upcoming period, and the price needs to break 1755.00 to ease the mission of heading towards our main expected target at 1735.00.
Stochastic negativity supports the suggested decline, taking into consideration that breaching 1770.00 will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 1740.00 support and 1775.00 resistance.
The expected trend for today: Bearish
The USDCAD breaks the support – Analysis - 05-10-2021
The USDCAD pair broke 1.2600 level strongly and closed the daily candlestick below it, to activate the bearish trend scenario for the upcoming period, targeting visiting 1.2495 mainly.
MoreThe USDJPY consolidates above the support – Analysis - 05-10-2021
The USDJPY pair kept its stability above 110.95, and begins to provide positive trades now, to support the continuation of the expected bullish trend for the upcoming period, which targets 112.05 mainly.
MoreThe GBPUSD tests the resistance - Analysis - 05-10-2021
The GBPUSD pair continued to rise to test 1.3600 level, noticing that the price keeps its stability below this level, which represents the point that 38.2% Fibonacci correction level meets the bearish channel’s resistance, accompanied by witnessing negative signals through stochastic.
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