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Gold surpasses the moving average – Analysis - 05-03-2018
Gold price continues to rise by today’s opening to surpass the EMA50 and settles above it, which supports the continuation of the bullish trend expectations on the intraday basis, and the way is open to visit 1335.40 level that represents our next target, noting that breaching this level will extend Gold price gains to reach 1365.97 as a next main station.
Therefore, the bullish trend will be suggested in the upcoming sessions unless breaking 1316.48 level and holding below it.
Expected trading range for today is between 1316.00 support and 1340.00 resistance.
Expected trend for today: Bullish
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USDCAD reaches the target – Analysis - 05-03-2018
The USDCAD pair provided move sideways trading to reach the main waited target at 1.2923, which represents 50% Fibonacci correction level for the entire decline measured from 1.3792 to 1.2053, which means that breaching it will push the price to visit the next correctional level at 1.3128.
MoreUSDJPY hits the extended targets – Analysis - 05-03-2018
The USDJPY pair succeeded to achieve our next waited target at 105.54 and settles around it now, noticing that the price begins today with bearish bias to move below the mentioned level, which supports the chances of extending the bearish wave on the short term basis, waiting to head towards our next target at 104.31.
MoreGBPUSD rises calmly – Analysis - 05-03-2018
The GBPUSD pair trades with slight positivity to approach testing the key resistance 1.3854, noting that the EMA50 meets this resistance to add more strength to it, to stay below the previously broken bullish trend line that appears on the chart.
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