Midday update for Gold 19-07-2021
Gold price faces negative pressure to break the bullish channel’s support line and heads towards testing 1797.00 level, to activate the bearish trend scenario in the upcoming sessions, noting that breaking the mentioned level will extend the bearish wave to reach 1770.00 as a next negative target.
Therefore, the bearish bias will be suggested for the rest of the day unless the price rallied to breach 1825.15 and hold above it.
The expected trading range for today is between 1790.00 support and 1830.00 resistance.
The expected trend for today: Bearish for the rest of the day
Midday update for the GBPUSD 19-07-2021
The GBPUSD pair shows new strong negative trades to approach our waited target at 1.3670, and we expect to surpass this level to achieve extended negative targets that reach 1.3600.
Therefore, we will continue to suggest the bearish trend for the upcoming sessions conditioned by the price stability below 1.3805.
The expected trading range for today is between 1.3660 support and 1.3820 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 19-07-2021
The EURUSD pair trades with clear negativity now to attack 1.1780 level and trades below it, which supports the continuation of our bearish overview efficiently for the rest of the day, opening the way to head towards our next target that reaches 1.1700, taking into consideration that failing to confirm the break might push the price to start recovery attempts that target testing 1.1888 areas on the near term basis.
The expected trading range for today is between 1.1730 support and 1.1880 resistance.
The expected trend for today: Bearish
The EURCAD records clear targets – Analysis – 19-7-2021
The EURCAD pair took advantage of the frequent positive pressures to notice surpassing the moving average 55 at 1.4895 and achieve many positive targets by touching 1.4961 level.
The stability above 61.8% Fibonacci correction level that forms additional support at 1.4922 in addition to stochastic reach to the overbought areas allow us to suggest more bullish attempts that might target 1.5020 followed by reaching 1.5095 barrier.
The expected trading range for today is between 1.4920 and 1.5020
The expected trend for today: Bullish