Midday update for Gold 10-06-2021
Gold price provides additional negative trades to reach the bullish channel’s support line, waiting to rebound bullishly to start new bullish wave and resume the main bullish track, which its next target located at 1928.60, to keep our bullish overview conditioned by the price stability above 1872.50, reminding you that breaking this level will push the price to achieve more decline and start correctional bearish wave on the intraday basis.
The expected trading range for today is between 1875.00 support and 1910.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 10-06-2021
The GBPUSD pair attacks 1.4095 level strongly and attempts to confirm breaking it, which hints that the price is on its way to achieve bearish correction for the bullish wave that started from 1.3670 areas, waiting to get a confirmed break to the mentioned support to confirm heading towards the correctional targets that started at 1.4030 followed by 1.3960.
On the other hand, we should note that trading above 1.4095 again will stop the current negative pressure and push the price to continue fluctuating inside the sideways range that appears on the chart.
The expected trading range for today is between 1.4030 support and 1.4200 resistance.
The expected trend for today: Sideways
Midday update for the EURUSD 10-06-2021
The EURUSD pair achieved initial break to 1.2175 level and attempts to hold below it, to hint heading to activate the negative scenario in the upcoming sessions, but we need to get a daily close below the mentioned level to confirm the continuation of the decline towards 1.2064 as a first negative target.
Therefore, we will continue with our neutrality until the price confirms breaking the mentioned support or breaching 1.2200 resistance to detect the next destination clearly.
The expected trading range for today is between 1.2090 support and 1.2250 resistance.
The expected trend for today: Neutral
The EURCHF resumes the negative correction – Analysis – 10-6-2021
The EURCHF pair faced strong negative pressures recently, to keep its consolidation below the moving average 55 at 1.0945, to notice the attempt to crawl below the additional support at 1.0905.
Stochastic reach to the oversold areas will increase the negative pressures on the price, allowing us to suggest more correctional bearish attempts until reaching the main bullish channel’s support line at 1.0855.
The expected trading range for today is between 1.0920 and 1.0855
The expected trend for today: Bearish