Midday update for Gold 14-01-2020
Gold price shows some bullish bias after testing 1536.50 level this morning, affected by stochastic positivity, while the EMA50 forms negative pressure that makes us suggest resuming the negative trades to break the mentioned level followed by heading towards 1519.00 as a next target.
In general, the bearish trend scenario will remain expected for today unless the price rallied to breach 1556.70 and hold above it.
The expected trading range for today is between 1519.00 support and 1550.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 14-01-2020
The GBPUSD pair provides new negative trades to approach 1.2920 level, while stochastic loses its positive momentum to hint the possibility of facing more negative pressure in the upcoming period, to continue suggesting the bearish trend in the upcoming sessions unless breaching 1.3150 level, reminding you that breaking 1.2920 will push the price to 1.2736 as a next correctional target.
The expected trading range for today is between 1.2900 support and 1.3060 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 14-01-2020
The EURUSD pair shows slight bearish bias in attempt to move away from 1.1140 level, to support the continuation of the expected bearish trend for today, which targets 1.1060 level mainly, reminding you that the continuation of the bearish wave depends on the price stability below 1.1140 and 1.1180 levels.
The expected trading range for today is between 1.1060 support and 1.1200 resistance.
The expected trend for today: Bearish
Copper price renews the positivity – Analysis – 14-1-2020
Copper price hinted the preparation to renew the bullish attempts by providing clear positive pressure on 2.8400 barrier, to get rid of the domination of the correctional bearish bias, while confirming the bullish rally requires the price stability above this barrier to allow us to suggest reaching the positive stations located at 2.9000 and 3.0200 in the near term and medium term period.
Our bullish overview depends on the major indicators that provide positive momentum, noticing stochastic attempt to crawl towards the overbought areas to increase the chances of recording the suggested targets.
The expected trading range for today is between 2.8000 and 2.9000
The expected trend for today: Bullish