Midday update for Gold 18-10-2018
Gold price made new attempt to break 1220.00 level, which supports the continuation of our bearish overview for today, which its main target located at 1208.40, reminding you that the continuation of the suggested bearish bias depends on the price stability below 1230.00 and the most important below 1238.31.
Expected trading range for today is between 1208.00 support and 1230.00 resistance.
Expected trend for today: Bearish
Midday update for GBPUSD 18-10-2018
The GBPUSD pair attempted to break the key support 1.3083 without managing to hold below it until now, to show some slight bullish bias, but as long as the price is below 1.3140, the bearish trend scenario will remain active for today, as breaching it will push the price towards 1.3226 initially, while our main expected target for today is located at 1.2962.
Expected trading range for today is between 1.3000 support and 1.3170 resistance.
Expected trend for today: Bearish
Midday update for EURUSD 18-10-2018
The EURUSD pair tests 1.1525 level that was broken previously and still below it, while stochastic continues to provide the negative signals, to keep the bearish trend scenario active until now, supported by the negative pressure formed by the EMA50, reminding you that our main target is located at 1.1443, while achieving it conditions holding below 1.1525.
Expected trading range for today is between 1.1400 support and 1.1580 resistance.
Expected trend for today: Bearish
Copper price provides temporary negative fluctuation – Analysis – 18-10-2018
Copper price responded to stochastic negativity to notice its recent stability below the moving average 55, providing temporary negative fluctuation by reaching 2.7500, while the continuous negative pressure might force the price to test the initial support at 2.7000 followed by attempting to gather its strengths by gathering new positive momentum to repeat the attempts to reach the main targets at 2.8500 followed by 2.9000.
Therefore, we will stay aside for the near term trading and depend on 2.8000 level forming additional obstacle until testing the previously mentioned initial support.
Expected trading range for today is between 2.8000 and 2.7000
Expected trend for today: Bearish