Midday update for Gold 01-08-2022
Gold price tests the key resistance 1767.70 now, which represents one of the next trend keys besides 1755.70 support, and as we mentioned this morning, the price needs to surpass one of these levels to detect its next destination clearly, which keeps our neutrality until now.
To review the expected targets after the beach, please check our morning report.
The expected trading range for today is between 1740.00 support and 1780.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 01-08-2022
The GBPUSD pair resumes its bullish rally to surpass 1.2200 level and attempts to hold above it, reinforcing the expectations of continuing the bullish trend for the rest of the day, and the way is open to achieve our next target at 1.2285, noting that breaching it will extend the bullish wave to reach 1.2490, while holding above 1.2077 represents key condition to achieve the suggested targets.
The expected trading range for today is between 1.2100 support and 1.2290 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 01-08-2022
The EURUSD pair shows more bullish bias to reach 1.0278 level, waiting to breach this level to confirm rallying towards our next positive stations that extend to 1.0355 followed by 1.0450.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 1.0200 and the most important 1.0100 and holding below them.
The expected trading range for today is between 1.0170 support and 1.0320 resistance.
The expected trend for today: Bullish
The GBPAUD remains bearish – Analysis – 1-8-2022
In spite of forming a bullish correctional rally by the GBPAUD and its stability near 1.07430, but that will not affect the main bearish track, depending on the main stability below the main resistance at 1.7860 besides forming an extra barrier by 61.8% Fibonacci correction level by its stability at 1.7510.
Stochastic reach to the overbought level confirms surpassing the positive pressures, to keep waiting for gathering the negative momentum, which allows it to form bearish waves and reaching the negative stations at 1.7310 and 1.7190.
The expected trading range for today is between 1.7500 and 1.7360
The expected trend for today: Bearish