Midday update for Gold 03-03-2021
Gold price shows negative trades that hint heaing to activate the negative scenario again, but the price still stuck between the trend keys represented by 1720.00 support and 1749.00 resistance, which makes us continue with our neutrality until confirming breaching one of these levels.
To review the details of the expected targets after the breach, please check our previous report.
The expected trading range for today is between 1715.00 support and 1750.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 03-03-2021
The GBPUSD pair trades with clear positivity now to breach 1.3975 and begins testing 1.4000 level, which urges caution from the upcoming trading, as breaching the last level will push the price to achieve more gains and turn to rise to achieve positive targets that start at 1.4100 and extend to 1.4230, while breaking 1.3975 followed by 1.3905 levels will reactivate the bearish trends scenario that its next target located at 1.3775.
Therefore, we prefer staying aside now until we get clearer signal for the next trend.
The expected trading range for today is between 1.3870 support and 1.4070 resistance.
The expected trend for today: Neutral
Midday update for the EURUSD 03-03-2021
The EURUSD pair provides negative trades in attempt to move away from 1.2100 level, to keep the bearish trend scenario valid and active for today, supported by stochastic and the EM50 negativity, waiting to head towards 1.1976 as a next main target, noting that breaching 1.2100 and holding above it will stop the expected decline and leads the price to resume the main bullish trend again.
The expected trading range for today is between 1.2000 support and 1.2150 resistance.
The expected trend for today: Bearish
The AUDJPY has to rise – Analysis – 3-3-2021
The AUDJPY pair formed many bullish waves to move away from 81.90 support line, to confirm moving into new bullish track and start recording additional targets by reaching 84.95.
Also, stochastic begins to rebound from 20 level to increase the chances of gathering the positive momentum and confirm the preparation to form strong bullish attack to surpass 85.00 level and expect moving towards 86.00 followed by 87.25.
The expected trading range for today is between 82.90 and 85.00
The expected trend for today: Bullish