Midday update for Gold 16-09-2019
Gold price hovers near the EMA50 since morning, keeping its stability above the main bullish trend line, therefore, there is no change on the bullish trend scenario that depends on the stability above 1485.00, while the price needs to braech 1524.00 to reinforce the chances for rally to 1555.00 as a next positive station.
The expected trading range for today is between 1495.00 support and 1525.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 16-09-2019
The GBPUSD pair trades with a clear negativity now, to approach form testing the bullish channel’s support, as we mentioned this morning, the price needs to settle above 1.2370 level for the continuation of the expected bullish trend for today, getting a continuous support from the EMA50, reminding you that our main targets begin at 1.2520 and extend to 1.2665 after breaching the previous level.
The expected trading range for today is between 1.2400 support and 1.2580 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 16-09-2019
The EURUSD pair shows a bearish bias now, to move away from the bearish channel’s resistance, which supports the continuation of our bearish trend expectations for the rest of the day, targeting 1.0857 level mainly, supported by the negative pressure that comes from the EMA50, pointing that holding below 1.1085 is important for the continuation of the expected decline.
The expected trading range for today is between 1.0960 support and 1.1120 resistance.
The expected trend for today: Bearish
Copper price hits the resistance – Analysis – 16-9-2019
Copper price achieved the required correctional target by hitting the bearish channel’s resistance at 2.7600, to form a strong barrier against the bullish trading, the current scenario depends on the strength of this resistance to expect renewing the negative attempts by its stability, which might target 2.6000 and 2.5500 in the near period.
While the price rally above the current resistance and providing a positive close, so that will confirm its move to a new bullish track, to begin targeting several positive levels by reaching 2.7200 and 2.7800.
The expected trading range for today is between 2.6700 and 2.6000
The expected trend for today: Bearish