Midday update for Gold 07-04-2020
Gold price tested the supported base formed above 1644.20 and keeps its stability above it, to keep the bullish trend scenario valid for today, supported by the EMA50 that carries the price from below, waiting to head towards 1703.25 that represents our next main target.
We remind you that breaking 1644.20 will stop the suggested rise and press on the price to visit 1607.70 before any new positive attempt.
The expected trading range for today is between 1645.00 support and 1690.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 07-04-2020
The GBPUSD pair attempted to breach 1.2304 level but it returns to trade below it, which keeps the bearish trend scenario valid for today, waiting to head towards 1.2093 as a next main station, taking into consideration that breaching 1.2304 followed by 1.2355 levels will stop the expected decline and push the price to visit 1.2515 initially.
The expected trading range for today is between 1.2150 support and 1.2350 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 07-04-2020
The EURUSD pair breached 1.0840 level clearly and settles above it now, which urges caution from the upcoming trading, as consolidating above this level will push the price to achieve more bullish bias to visit 1.0966 as a first positive target, while trading below it again will reactivate the bearish trend scenario that its next target located at 1.0700.
Therefore, we prefer staying aside until the price confirms its situation according to 1.0840 level followed by getting clearer signal for the next trend.
The expected trading range for today is between 1.0750 support and 1.0950 resistance.
The expected trend for today: Neutral
Copper price approaches the target – Analysis – 7-4-2020
Copper price continued to form the positive trades to notice approaching the main target at 2.2930, reminding you that it is important to monitor the price behavior due to the importance of this barrier, as breaching it will allow resuming the bullish attack and the chance of touching 2.4100.
On the other hand, the stability below the targeted barrier will confirm renewing the negative trades in the near term and medium term trades, waiting to decline towards 2.0700 followed by reaching the historical support 1.9200.
The expected trading range for today is between 2.2500 and 2.2930
The expected trend for today: Bullish