Midday update for Gold 15-05-2019
Gold price shows bullish bias now to approach testing 1302.60 level, noting that our neutrality still valid until the price confirms breaching the mentioned resistance or breaking 1287.00 support to detect the next targets clearly.
Note that the details of the expected targets after the breach are explained in our morning report.
The expected trading range for today is between 1285.00 support and 1315.00 resistance.
The expected trend for today: Depends on the above mentioned levels
Midday update for the GBPUSD 15-05-2019
The GBPUSD pair settles around 1.2900 level, and the negative effect of the head and shoulders’ pattern still active, to keep the bearish trend valid for the rest of the day, which its next target located at 1.2800, while achieving it conditions holding below 1.2962.
The expected trading range for today is between 1.2820 support and 1.2960 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 15-05-2019
The EURUSD pair shows calm bearish bias since morning, supported by the negative signal provided by stochastic, to keep our bearish overview that its targets begin by breaking 1.1180 to open the way to head towards 1.1100 followed by 1.1000 levels, noting that breaching 1.1250 will stop the expected decline and push the price to achieve positive targets that reach 1.1443 on the near term basis.
The expected trading range for today is between 1.1120 support and 1.1280 resistance.
The expected trend for today: Bearish
Copper price fails to break – Analysis – 15-5-2019
Copper price did not succeed to confirm breaking the additional at 2.7220 until this moment, to notice the attempt to form intraday positive rebound as appears on the chart, and that won’t change the main bearish track due to the stability of 2.8300 barrier, expecting to surrender to the intraday sideways trades until achieving the required break followed by waiting to record the targets at 2.6500 and 2.5370 levels.
Stochastic attempt to crawl towards the oversold areas reinforces the negative overview by providing new negative momentum to assist to achieve the required break.
The expected trading range for today is between 2.7700 and 2.6500
The expected trend for today: Bearish