|
Gold within the sideways range – Analysis - 09-05-2018
Gold price begins today’s trading with bearish bias after testing 1316.48 level yesterday, to keep the price confined inside the sideways range that its lines represented by the mentioned resistance and 1301.20 support, and the price might head to visit this support in the upcoming sessions, affected by the negative pressure formed by the EMA50.
Note that breaching 1316.48 resistance will lead the price to attempt to regain the main bullish trend that its positive targets begin at 1335.40, while breaking 1301.20 support will extend the correctional bearish wave to reach 1285.90 direct.
Expected trading range for today is between 1300.00 support and 1325.00 resistance.
Expected trend for today: Sideways
Thanks for your feedback.
USDCAD breaches the resistance – Analysis - 09-05-2018
The USDCAD pair breached 1.2923 level strongly and closed the daily candlestick above it, which opens the way to extend the bullish wave on the short term basis, on its way to visit 61.8% Fibonacci correction level at 1.3128 again.
MoreUSDJPY rises again – Analysis - 09-05-2018
The USDJPY pair traded with clear positivity yesterday after leaning on the bullish channel’s support line that appears on the chart, to breach 109.00 level and settles above it, which reactivates the correctional bullish trend scenario again, targeting testing 110.04 level initially.
MoreGBPUSD keeps the support base – Analysis - 09-05-2018
The GBPUSD pair settles above 1.3490 level, to keep the bullish trend scenario active in the upcoming sessions, noticing that stochastic begins to rise now, to form positive motive that we are waiting to push the price to head towards our positive targets that begin at 1.3710 followed by 1.3817.
More