Midday update for Gold 13-05-2022
Gold price shows negative trades to head towards resuming the expected bearish trend for today, to keep the bearish trend scenario active as long as 1850.00 level remains intact, supported by the negative pressure formed by the EMA50, reminding you that we are waiting to visit 1780.25 as a next main target.
The expected trading range for today is between 1800.00 support and 1840.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 13-05-2022
The GBPUSD pair shows sideways and tight trades since morning, and stochastic continues to lose the positive momentum gradually, thus, no change to the bearish trend scenario that depends on the price stability below 1.2350, reminding you that our next main target extends to 1.2080.
The expected trading range for today is between 1.2130 support and 1.2290 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 13-05-2022
The EURUSD pair tests the key resistance 1.0405 and attempts to hold below it, to keep the bearish trend scenario active for today, which targets 1.0325 followed by 1.0255 levels, reminding you that breaching 1.0405 will lead the price to achieve intraday gains that start at 1.0470 before any new negative attempt.
The expected trading range for today is between 1.0300 support and 1.0460 resistance.
The expected trend for today: Bearish
Copper price touches the target – Analysis – 13-5-2022
Copper price exited the sideways track yesterday, forming new negative wave to reach the target at 4.0500, confirming its surrender to the domination of the bearish bias, while the current rebound won’t affect the main bearish track due to the stability of the main resistance at 4.3800, in addition to 4.1800 level attempt to form additional barrier.
Therefore, we will keep our negative overview, expecting to gather the additional negative momentum to reach 3.9300 level direct, to press on 50% Fibonacci correction level as a next main target.
The expected trading range for today is between 4.1800 and 3.9300
The expected trend for today: Bearish