|
Gold price tests the support – Analysis - 12-03-2020
Gold price tests the key support 1633.60 now, which urges caution from the upcoming trading, as breaking this level will put the price under additional negative pressure that targets 1599.10 areas initially before any new positive attempt.
Stochastic shows clear oversold signals now to support the strength of the current areas, therefore, we will keep our bullish overview unless breaking 1633.60 level and holding below it, reminding you that our first target is located at 1689.33.
The expected trading range for today is between 1620.00 support and 1660.00 resistance.
The expected trend for today: Bullish
Thanks for your feedback.
The USDCAD rises again – Analysis - 12-03-2020
The USDCAD pair resumed its positive trading clearly to start new attempts to breach 1.3800 by today’s opening, which supports the continuation of the bullish trend scenario on the short term and medium term basis, waiting to confirm the breach to open the way to head towards 1.4130 as a next main station.
MoreThe USDJPY keeps its negative stability – Analysis - 12-03-2020
The USDJPY pair opens today’s trading with strong negativity to move away from 104.63 level, reinforcing the expectations of continuing the bearish trend, which its next main target located at 100.25, noting that the EMA50 keeps pressing negatively on the price to support the expectations to decline.
MoreThe GBPUSD resumes the decline – Analysis - 12-03-2020
The GBPUSD pair bounced downwards strongly after testing 1.2965 level yesterday, to test 1.2800 barrier now, reinforcing the expectations of continuing the domination of the correctional bearish trend, which targets testing 1.2736 level as a next main station.
More