Midday update for Gold 08-11-2019
Gold price resumes its negative trading on its way to head towards our waited target at 1447.00, to keep the bearish trend active for the rest of the day, supported by the negative pressure formed by the EMA50, reminding you that the continuation of the expected decline requires holding below 1489.00, while surpassing the first target represents the key to rally towards 1413.00 direct.
The expected trading range for today is between 1447.00 support and 1480.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 08-11-2019
The GBPUSD pair keeps its stability below 1.2840 level, and we still waiting to break 1.2800 level to confirm the continuation of the bearish trend in the upcoming sessions, depending on the formation of the double top pattern that its signs appear on the chart, waiting to visit 1.2670 as a next main target, noting that the continuation of the expected decline conditions the price stability below 1.2840 and 1.2865 levels.
The expected trading range for today is between 1.2720 support and 1.2900 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 08-11-2019
The EURUSD pair resumes its negative trading to move away from 1.1065 level, reinforcing the expectations of continuing the bearish trend for the rest of the day, affected by the negativity of the double top pattern, which targets 1.0995 followed by 1.0950 levels as next main stations, reminding you that it is important to hold below 1.1065 and 1.1105 levels to continue the expected decline.
The expected trading range for today is between 1.0950 support and 1.1120 resistance.
The expected trend for today: Bearish
Copper price keeps pressing on the barrier – Analysis – 08-11-2019
Copper price continued to provide a clear positive pressure on 2.7000 level, which formed a strong barrier against the attempts of resuming the bullish attack, and providing a positive close above this level will confirm its readiness to rally to 2.7600 level, to wait for hitting the initial main target at 2.8400.
We will still be depending on forming an extra support for the moving average 55 by its stability at 2.6400 for today, which confirms its confinement within the bullish range until reaching the suggested targets.
The expected trading range for today is between 2.6730 and 2.7600
The expected trend for today: Bullish