Midday update for Gold 19-10-2018
Gold price shows calm negative trades in attempt to resume the expected bearish trend for today, to keep our bearish overview in the upcoming sessions, supported by stochastic reach ot the overbought areas, which targets testing 1208.40 level mainly, taking into consideration that breaching 1230.00 followed by 1238.40 levels will stop the expected decline and lead the price for more bullish correction on the short term basis.
Expected trading range for today is between 1208.00 support and 1238.00 resistance.
Expected trend for today: Bearish
Midday update for GBPUSD 19-10-2018
The GBPUSD pair fluctuates near 1.3000 barrier, waiting for more decline affected by the previously completed double top pattern, as our next targets located at 1.2962 followed by 1.2900, and the EMA50 forms negative pressure to support the suggested negative scenario, which its continuation conditions holding below 1.3100.
Expected trading range for today is between 1.2900 support and 1.3100 resistance.
Expected trend for today: Bearish
Midday update for EURUSD 19-10-2018
The EURUSD pair resumes its negative trades to press on 1.1443 level in attempt to break it, which supports the continuation of our bearish overview for the upcoming sessions, paving the way to head towards our next target at 1.1300, to continue suggesting the bearish bias for the rest of the day unless breaching 1.1525 level and settling above it.
Expected trading range for today is between 1.1350 support and 1.1525 resistance.
Expected trend for today: Bearish
Copper price suffers the indicators’ contradiction – Analysis – 19-10-2018
The major indicators’ contradiction continued to affect Copper price trades, to continue fluctuating below the moving average 55, postponing the main bullish attack, as the stability of 2.7700 and forming an obstacle against the current fluctuations increases the chances of the price decline towards 50% Fibonacci correction level at 2.7000.
On the other hand, succeeding to surpass the current barrier will cancel the correctional bearish overview, to expect gathering new positive momentum followed by attempting to record new positive targets that start at 2.8500 followed by 2.9000.
Expected trading range for today is between 2.7700 and 2.7000
Expected trend for today: Bearish temporarily