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Gold resumes rising – Analysis - 01-08-2016
Gold price provided clear positive trading on last Friday after leaning on the EMA50, to fluctuate around 1250.00 level now, waiting for more rise to test the previously recorded top at 1375.00 as a next main station.
The EMA50 continues to provide the positive support to the price, which encourages us to keep our bullish overview for the upcoming period, reminding you that breaching the targeted level will extend gold price gains to reach 1400.00 followed by 1440.00 levels, while the bullish trend will remain valid and active unless we witnessed clear break and holding below 1312.00 and 1297.75 levels.
Expected trading range for today is between 1332.00 support and 1380.00 resistance.
Expected trend for today: Bullish
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USDCAD retests – Analysis - 01-08-2016
The USDCAD pair showed clear negative trades on last Friday to settle at the key support 1.2985, and as we mentioned in our recent reports, holding above this level represents the condition of continuing the expected positive scenario on the intraday basis, which targets testing 1.3310 level mainly.
MoreUSDJPY suffers strong losses – Analysis - 01-08-2016
The USDJPY pair declined sharply on last Friday to settle at 102.00 barrier, which supports the continuation of our bearish overview efficiently for the upcoming period, and the way is open to visit our main waited target at 100.70, which represents 50% Fibonacci correction level for the entire rise measured from 75.55 to 125.84, which hints the importance and sensitivity of this level to detect the next destination on the medium term basis.
MoreGBPUSD within sideways track – Analysis - 01-08-2016
The GBPUSD pair shows more sideways trading as appears on chart, as the price faces this range's ceiling located at 1.3290, and as long as the price is below this level, the chances will remain valid to continue the bearish bias in the upcoming period, supported by the negative signal provided by stochastic now.
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