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Gold reaches the first target – Analysis - 20-11-2017
Gold price succeeded to reach our first expected target at 1299.20, showing some slight bearish bias now affected by stochastic negativity, waiting to get enough positive momentum to push the price to breach the mentioned level and open the way to head towards 1321.50 that represents our next main target.
In general, we will continue to suggest the bullish trend in the upcoming sessions conditioned by holding above 1281.17, as breaking this level will push the price to test 1263.15 areas again before any new attempt to rise.
Expected trading range for today is between 1281.00 support and 1305.00 resistance.
Expected trend for today: Bullish
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USDCAD draws positive formation – Analysis - 20-11-2017
The USDCAD pair leaned on the bullish trend line that appears on chart and bounced bullishly after the recent attempts to break the key support 1.2723, which hints the price head to achieve more bullish correction on the short term basis, especially that there is signs of bullish pattern that appears on the chart, its confirmation line located at 1.2820, thus, breaching this level will confirm rallying upwards to surpass 1.2927 barrier and achieve more gains.
MoreUSDJPY touches the second target – Analysis - 20-11-2017
The USDJPY pair resumed its negative trading after confirming breaking 23.6% Fibonacci correction level at 113.00, to reach the second correctional level at 111.90, which represents 38.2% Fibonacci correction level for the rise measured from 107.31 to 114.73, which urges caution from the upcoming trading, as breaking this level will push the price to achieve more decline that targets 111.00 areas direct.
MoreGBPUSD awaits the breach – Analysis - 20-11-2017
The GBPUSD pair continues to fluctuate around 50% Fibonacci correction level at 1.3196, at the middle of the sideways range that appears on chart, and as long as the price is between 1.3096 support and 1.3295 resistance, the sideways trades will remain dominant on the intraday basis, waiting to surpass one of the mentioned levels to detect the next targets clearly.
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