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Gold prices achieves strong gains – Analysis - 20-03-2023
Gold price achieved new strong rises to surpass our waited target at 1960.00 and approach the psychological barrier at 2000.00$, which supports the continuation of the bullish trend on the intraday and short term basis, noting that surpassing the mentioned barrier will push the price to head towards 2040.00 areas as a next main station.
The EMA50 provides continuous positive support to the price, while stochastic negativity might cause some temporary bearish bias before resuming the bullish bias.
In general, we suggest the continuation of the overall bullish trend domination, and the price needs to hold above 1960.00 as a first condition to continue the expected rise, as breaking it will press on the price to achieve some intraday bearish correction before turning back to rise again.
The expected trading range for today is between 1960.00 support and 2000.00 resistance.
The expected trend for today: Bullish
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The USDCAD awaits the break – Analysis - 20-03-2023
The USDCAD pair faces solid support at 1.3680, finding difficulty to break it, to show temporary positive trades, noticing that the price recorded new lower high to form negative pattern that we are waiting to motivate the price to continue the decline in the upcoming sessions, and the price needs to break the mentioned support to confirm rallying towards 1.3500 as a next main target.
MoreThe USDJPY touches the first target – Analysis - 20-03-2023
The USDJPY pair managed to touch our first waited target at 131.60, and continues to move within the bearish channel that appears on the chart, which supports the chances of continuing the decline towards our next target that reaches 130.50.
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The GBPUSD pair provided new positive trades to test 1.2200 barrier, waiting to get positive motive that assists to push the price to continue the price and achieve our positive targets that start at 1.2260 and extend to 1.2440 after surpassing the previous level.
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