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Gold price touches the resistance – Analysis - 21-12-2018
Gold price touched the correctional bullish channel’s resistance and bounced bearishly from there, noticing that the price failed to achieve a daily close above 1262.50, while stochastic provides negative signals now on the foud hours’ time frame.
Therefore, these factors encourage us to suggest a bearish reverse in the upcoming sessions, to head towards testing 1238.30 areas mainly, taking into consideration that breaching 1267.00 will stop the negative scenario and lead the price to achieve more gains on the short term basis.
Expected trading range for today is between 1235.00 support and 1275.00 resistance.
Expected trend for today: Bearish
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USDCAD attempts positively – Analysis - 21-12-2018
The USDCAD pair attempted to breach 1.3500 barrier without managing to hold above it, and the EMA50 keeps providing the positive support to the price, while the bullish channel continues to organize the short term bullish wave.
MoreUSDJPY declines strongly – Analysis - 21-12-2018
The USDJPY pair succeeded to surpass our first waited target at 111.97 and declined strongly to approach our next target mentioned yesterday at 110.40, to keep the bearish trend suggested in the upcoming period, supported by the negative pressure formed by the EMA50, waiting for more decline today.
MoreGBPUSD awaits the confirmation – Analysis - 21-12-2018
The GBPUSD pair still stuck between the trend confirmation levels represented by 1.2636 support and 1.2725 resistance, as the price needs to breach one of these levels to detect its next destination clearly, which makes us continue with our neutrality until now.
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