Midday update for Gold 18-02-2021
Gold price attempts to breach 1785.00 level, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend valid for today, as breaching it will push the price to achieve additional gains that reach 1827.00 before any new attempt to decline, while the expected targets of the suggested bearish wave are located at 1765.00 and 1740.00.
The expected trading range for today is between 1760.00 support and 1800.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 18-02-2021
The GBPUSD pair rallies upwards to breach 1.3900 level and attempts to hold above it, which makes us stay aside until the price confirms its situation according to this level, as closing the daily candlestick above it will reactivate the main bullish trend that its first target located at 1.3975, while settling below 1.3900 will press on the price to decline again and head towards 1.3680 initially.
The expected trading range for today is between 1.3800 support and 1.3960 resistance.
The expected trend for today: Neutral
Midday update for the EURUSD 18-02-2021
The EURUSD pair trades with clear positivity to attack 1.2064 level and attempts to hold above it, which urges caution from the upcoming trading, as confirming the breach will stop the morning suggested negative scenario and leads the price to resume the main bullish trend, which its next target located at 1.2173, while the price needs to consolidate below 1.2064 to keep the bearish bias valid, which targets 1.1976 as a first negative station.
The expected trading range for today is between 1.1950 support and 1.2100 resistance.
The expected trend for today: Bearish
Natural gas price achieves some positive targets – Analysis – 18-2-2021
Natural gas formed new bullish channel recently, as 2.510 level forms the extension of the main support, to notice recording some positive targets by reaching 3.200, while the settling above 50% Fibonacci correction level at 3.150 and stochastic crawl towards the overbought aeras increase the chances of resuming the bullish attack, to expect rallying towards 3.550 followed by reaching 3.820 resistance line, forming the main target for now.
The expected trading range for today is between 3.150 and 3.550
The expected trend for today: Bullish