Midday update for Gold 19-09-2023
Gold price resumes its positive trading to move away from the breached neckline of the inverted head and shoulders’ pattern, reinforcing the expectations of continuing the bullish trend for the rest of the day, and the way is open to achieve our next target at 1945.20, reminding you that breaching it will push the price to 1960.00 as a next positive station.
On the other hand, we should note that breaking 1929.00 will stop the positive scenario and push the price to turn to decline.
The expected trading range for today is between 1920.00 support and 1950.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 19-09-2023
The GBPUSD pair shows sideways trades since morning, settling below 1.2400 level, thus, no change to the expected bearish trend for today, which targets 1.2310 as a next station, noting that breaching 1.2435 might push the price to test 1.2505 areas before any new attempt to decline.
The expected trading range for today is between 1.2285 support and 1.2445 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 19-09-2023
The EURUSD pair shows new positive trades to test the bearish channel’s resistance that appears on the chart, and the price needs to consolidate below this resistance to keep the bearish trend scenario active for today, supported by the EMA50 that meets the resistance line located at 1.0710, waiting to visit 1.0635 initially, reminding you that breaking it will push the price to 1.0515 as a next target.
We remind you that breaching 1.0710 will push the price to recover and head towards 1.0785 areas initially.
The expected trading range for today is between 1.0595 support and 1.0740 resistance.
The expected trend for today: Bearish
The NZDCAD confirms the negativity – Analysis – 19-9-2023
The NZDCAD pair confirmed its surrender to the domination of the bearish bias by providing frequent closings below 0.8030 resistance, to notice crawling towards 0.7955 recently, also, stochastic attempt to provide the negative momentum will increase the chances of resuming the negative attack, to keep waiting to target new negative stations that might start at 0.7905 followed by reaching 0.7770.
The expected trading range for today is between 0.7980 and 0.7905
The expected trend for today: Bearish