Midday update for Gold 19-09-2019
Gold price shows a bullish bias to head to the critical resistance at 1505.00, which represents one of the next trend keys besides 1485.00 support, as we mentioned this morning, the price needs to breach one of these levels to detect its next trend clearly, which keeps our neutral attitude valid until now.
To recognize the details of the expected targets from breaching the mentioned levels, please review our morning report.
The expected trading range for today is between 1475.00 support and 1525.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 19-09-2019
The GBPUSD pair resumes its positive trading to test 1.2520 level, waiting for confirming the breach to reinforce the continuation of the expected bullish trend in the upcoming period, keeping the positive scenario active for today, conditioned by holding above 1.2455, reminding you that our next target at 1.2670.
Note that its required to be aware in the upcoming trading, where we are waiting for the issuance of the BOE rate decision, which might cause mixed and strong trading for the GBPUSD pair.
The expected trading range for today is between 1.2380 support and 1.2580 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 19-09-2019
The EURUSD pair returns to test the bearish channel’s resistance, as long as the price is below 1.1085, so our bearish trend expectations will remain valid for today, supported by stochastic negativity, reminding you that we are waiting for visiting 1.0857 level as a next main station.
The expected trading range for today is between 1.0950 support and 1.1100 resistance.
The expected trend for today: Bearish
Copper price repeats the negative fluctuation – Analysis – 19-9-2019
Copper price gained a new negative momentum, to reinforce the continuation of the negativity by recording 2.5700 level, and the continuation of the stability within the bearish channel levels confirms its readiness to record more of the negative targets that begin at 2.5500 reaching to 2.48 level in the medium period.
Stochastic approach from 20 level forms a main factor that confirms the bearish scenario by providing a new negative momentum, to ease the mission of reaching the waited negative stations.
The expected trading range for today is between 2.6000 and 2.5500
The expected trend for today: Bearish