Midday update for Gold 12-02-2019
Gold price tests the intraday bearish channel’s resistance, accompanied with stochastic reach to the thresholds of the overbought levels, as long as the price is belwo 1316.65, so our bearish trend expectations will remain active for today, waiting for resuming the decline that tragets 1299.00 then 1286.70 levels mainly.
The expected trading range for today is between 1286.00 support and 1320.00 resistance.
The expected trend for today: Bearish
Midday update for GBPUSD 12-02-2019
The GBPUSD pair shows negative trading to approach gradually from our waited target at 1.2800, and we believe that the way is open for achieving more of the downside moves in the upcoming sessions, where our next target is located at 1.2636.
Therefore, the bearish bias will remain the dominant for today, conditioned by holding below 1.2962.
The expected trading range for today is between 1.2760 support and 1.2900 resistance.
The expected trend for today: Bearish
Midday update for EURUSD 12-02-2019
The EURUSD pair’s trading settles near 1.1275 level since morning, as long as the price below 1.1443, so the bearish trend scenario will remain preferred in the upcoming period, supported by the negative pressure that comes from the EMA50, reminding you that our next main target is located at 1.1181.
The expected trading range for today is between 1.1180 support and 1.1350 resistance.
The expected trend for today: Bearish
Copper price still limited – Analysis – 12-2-2019
There is no change on Copper price’s sideways trading, due to its repeated confinement between the bullish channel’s support at 2.7600, while 2.8460 level keeps forming an obstacle against the bullish rally, and the contradiction between the main indicators reinforces the intraday sideways trading until the price success to detect the bullish attempts, which targets surpassing the barrier to reach 2.9360 and 3.0300.
The expected trading range for today is between 2.7600 and 2.8400
The expected trend for today: Sideways