Midday update for Gold 12-02-2024
Gold price almost didn’t show any move since morning, noticing that stochastic begins to overlap positively now, waiting to motivate the price to resume the expected bullish trend for today, which depends on the price stability above 2016.90, while its targets begin by breaching 2032.00 to ease the mission of rallying towards 2065.70 as a next main station.
The expected trading range for today is between 2010.00 support and 2040.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 12-02-2024
The GBPUSD pair is testing 1.2645 level and finds solid resistance there, waiting to gather positive momentum that assist to push the price to surpass this level and open the way to achieve additional gains that reach 1.2765.
In general, we will continue to suggest the bullish trend for the upcoming period unless breaking 1.2610 and holding with a daily close below it.
The expected trading range for today is between 1.2570 support and 1.2720 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 12-02-2024
The EURUSD pair shows some slight bearish bias to head towards potential test to the key support 1.0765, affected by stochastic negativity, and as we mentioned this morning, the price needs to hold above this level to keep the bullish trend scenario active for today, as breaking it will put the price under additional negative pressure to turn to decline, while the next target of the expected bullish wave is located at 1.0860.
The expected trading range for today is between 1.0740 support and 1.0880 resistance.
The expected trend for today: Bullish
The NZDCAD attempts positively – Analysis – 12-2-2024
The NZDCAD pair resisted the temporary negative pressures by providing frequent positive closings above the additional support 0.8170, forming some bullish waves to surpass the MA55 and settle near 0.8255.
These factors confirm keeping the bullish track, noting that stochastic begins to provide the positive momentum to increase the chances of recording additional gains that might extend towards 0.8310 and 0.8380 levels soon.
The expected trading range for today is between 0.8235 and 0.8310
The expected trend for today: Bullish