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Midday update for Gold 21-10-2022
Gold price shows more decline to reach our waited target at 1615.00, and we expect the continuation of the bearish bias within the bearish channel that appears on the chart to test 1600.00$ per ounce barrier as a next station, to continue suggesting the bearish trend for the rest of the day, supported by the negative pressure formed by the EMA50, reminding you that it is important to hold below 1640.00 to continue the suggested decline.
The expected trading range for today is between 1600.00 support and 1640.00 resistance.
The expected trend for today: Bearish
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Midday update for the GBPUSD 21-10-2022
The GBPUSD pair resumes its negative trades to support the continuation of the bearish trend for the rest of the day, reminding you that our main targets begin at 1.1055 and extend to 1.0920 as next main stations, supported by the negative pressure formed by the EMA50, while the price needs to hold below 1.1290 to continue the expected decline.
MoreMidday update for the EURUSD 21-10-2022
The EURUSD pair settles below 0.9790 level, to keep the bearish trend active for today, supported by moving below the EMA50, waiting for additional negative trades in the upcoming sessions to achieve our targets that start at 0.9700 and extend to 0.9630.
MoreThe CADCHF tests the resistance – Analysis – 21-10-2022
The CADCHF pair touched the main resistance at 0.7335, to stop the bullish attack and start declining to settle near 0.7280, noticing the consolidation of the moving average 55 above the main resistance to confirm blocking trades within the bearish track, to suggest declining towards the negative stations at 0.7240 and 0.7205 levels.
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