Midday update for Gold 17-11-2023
Gold price shows clear positivity trades to move away from the first key support at 1975.00, reinforcing the expectations of continuing the expected bullish trend for today, which gets positive support by the EMA50, reminding you that our expected targets begin at 2000.00 followed by 2009.30, while achieving them requires holding above 1975.00 and the most important above 1962.35.
The expected trading range for today is between 1970.00 support and 2005.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 17-11-2023
The GBPUSD pair traded with clear negativity to complete forming the double top pattern that appears on the chart, to support the continuation of the expected bearish trend for today, waiting to break 1.2380 level to confirm rallying towards our next target at 1.2297.
Stochastic continues to provide the negative signals that reinforce the expectations to decline, reminding you that it is important to hold below 1.2460 to continue the expected bearish trend.
The expected trading range for today is between 1.2320 support and 1.2460 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 17-11-2023
The EURUSD pair provide negative trades to attempt to move away from 1.0860 level but it returns to fluctuate around it, waiting to get negative motive that assist to push the price to resume the expected bearish trend for the rest of the day, reminding you that we are waiting to visit 1.0760 level mainly.
Note that surpassing the mentioned the mentioned level will extend the bearish wave to reach 1.0645 areas on the near-term basis, while the expected decline will remain valid unless breaching 1.0860 and hold above it.
The expected trading range for today is between 1.0760 support and 1.0920 resistance.
The expected trend for today: Bearish
The EURCHF leans above the moving average – Analysis – 17-11-2023
The EURCHF pair resisted the negative pressures caused by stochastic decline below 50 level by providing new close above the MA55 that forms additional support now at 0.9625.
These factors allow us to suggest forming temporary sideways fluctuation until succeeding to gain the additional positive momentum and ease the mission of reaching towards the main positive station that might start at 0.9680 followed by reaching 50% Fibonacci correction level at 0.9755.
The expected trading range for today is between 0.9630 and 0.9680
The expected trend for today: Bullish