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Midday update for Gold 01-03-2024
Gold price retested the breached neckline of the inverted head and shoulders’ pattern and bounced upwards from there, and the price needs to consolidate above 2040.00 as a first condition to the continuation of the expected bullish trend for today and continue the positive effect of the mentioned pattern, noting that our waited target is located at 2065.70.
The EMA50 continues to support the expected rise, noting that breaking 2016.90 will stop the positive scenario and push the price to achieve new bearish correction in the upcoming period.
The expected trading range for today is between 2030.00 support and 2065.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 01-03-2024
The GBPUSD pair keeps its stability below 1.2650, to keep the correctional bearish trend valid for today, waiting to visit 1.2540 as a next main target.
MoreMidday update for the EURUSD 01-03-2024
The EURUSD pair fluctuates around the EMA50 since morning, and didn’t show any strong move since morning, waiting to get negative motive that assist to push the price to resume the expected bearish trend for today, which targets 1.0765 initially, reminding you that breaking it will push the price towards 1.0645 direct.
MoreThe GBPCHF provides positive signal – Analysis – 1-3-2024
The GBPCHF pair provided positive signal by fluctuating above 1.1170 barrier, attempting to confirm moving to the bullish track as expected previously, as the major indicators provide the positive momentum to increase the positive pressures on the price to manage to confirm the breach followed by starting to target many positive stations that start at 1.1210 followed by reaching 1.1295 in the medium-term period.
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