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Gold pushes on the support line – Analysis - 16-03-2018
Gold price provided clear negative trades yesterday to settle around 1316.48 level, as it attempted to break this level, supported by the negative pressure formed by the EMA50, but we notice that stochastic shows positive signals that might protect the price from suffering more losses.
Now, we prefer staying aside temporarily in order to monitor the price behavior according to the mentioned level, as holding above it will revive the bullish trend scenario that its main targets begin by testing 1335.40 level, while breaking it will push the price to visit 1301.20 areas before any new attempt to rise.
Expected trading range for today is between 1305.00 support and 1335.00 resistance.
Expected trend for today: Neutral
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USDCAD approaches the target – Analysis - 16-03-2018
The USDCAD pair rallied upwards strongly yesterday to approach our main waited target at 1.3128, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, which is organized inside the bullish channel that appears on the chart, supported by the EMA50 that carries the price from below.
MoreUSDJPY resumes the decline – Analysis - 16-03-2018
The USDJPY pair begins today’s trading with new bearish bias after testing the EMA50 yesterday, noticing that stochastic provides negative overlapping signal on the four hours’ time frame, which forms negative motive that we expect to assist to push the price to break 105.54 level and open the way to head towards our extended target that reaches 104.62.
MoreGBPUSD needs the positive momentum – Analysis - 16-03-2018
The GBPUSD pair continues to fluctuate at the short term bullish trend line, keeping its stability above the previously breached resistance of the correctional bearish channel, which keeps our bullish overview valid until now, supported by the EMA50, noting that stochastic negativity interprets the reasons of the current sideways fluctuation.
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