Midday update for Gold 10-03-2021
Gold price’s recent trades are confined within minor bearish channel that appears on the chart, and the price still below 1721.00, while the EMA50 continues to form negative pressure against the price, to keep the bearish trend scenario valid and active for today, waiting to visit 1692.00 followed by 1660.00 after breaking the previous level, reminding you that it is important to hold below 1721.00 to continue the suggested decline.
The expected trading range for today is between 1690.00 support and 1725.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 10-03-2021
The GBPUSD pair tests the EMA50 again, and as we mentioned this morning, the price needs to hold below 1.3905 to keep the bearish trend valid for today, affected by the head and shoulders’ pattern that appears on the chart, reminding you that our main negative target is located at 1.3695.
The expected trading range for today is between 1.3780 support and 1.3940 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 10-03-2021
The EURUSD pair returns to attack 1.1888 level and attempts to hold above it, which urges caution from the upcoming trading, as confirming the breach will stop the morning suggested negative scenario and push the price to turn to rise, while we still keep our bearish overview supported by stochastic negativity conditioned by the price stability below the mentioned level, reminding you that our next target reaches 1.1780.
The expected trading range for today is between 1.1800 support and 1.1940 resistance.
The expected trend for today: Bearish
Natural gas price approaches the support – Analysis – 10-3-2021
Natural gas price continued to form correctional bearish waves by facing continuous negative pressures caused by stochastic approach to 20 level, to fluctuate near the minor bullish channel’s support line at 2.550.
The upcoming scenario depends on the strength of this support, to expect the beginning of forming bullish waves as long as this support remains intact, to expect moving towards 2.950 followed by 3.190 level, while facing negative pressures and crawling below the current support will confirm moving into the bearish track, to expect suffering big losses by moving towards 2.281 initially.
The expected trading range for today is between 2.550 and 2.900
The expected trend for today: Bullish