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Midday update for Gold 02-05-2023
Gold prices continues to fluctuate around the symmetrical triangle’s support line, noticing that the price attempts to consolidate below it, reinforcing the expectations of continuing the correctional bearish trend, waiting to visit 1957.30 as a next negative station.
Stochastic positivity pushes the price to achieve some slight rise now, while in general, we will continue to suggest the bearish trend for the upcoming period unless breaching 2005.35 and holding with a daily close above it.
The expected trading range for today is between 1960.00 support and 1995.00 resistance.
The expected trend for today: Bearish
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Midday update for the GBPUSD 02-05-2023
The GBPUSD pair faces additional negative pressure to attack the bullish channel’s support line and attempts to hold below it, to hint heading to turn to decline and start bearish correction for the rise that started from 1.1800 areas, paving the way to achieve negative targets that start by visiting 1.2400 areas.
MoreMidday update for the EURUSD 02-05-2023
The EURUSD pair shows more bearish bias to achieve our waited target at 1.0945, and we suggest the continuation of the negative pressure to break this level and open the way to achieve more bearish correction that its next target reaches 1.0860.
MoreThe NZDCAD presses on the moving average – Analysis – 2-5-2023
The NZDCAD pair renewed the positive trades, attempting to hold above the major support 0.8240, to notice renewing the positive pressure on the MA55 that formed an obstacle against the bullish attempts by settling at 0.8400.
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