Midday update for Gold 22-09-2022
Gold price returns to rise strongly to test the bearish channel’s resistance, and as we mentioned in our recent reports, the price needs to consolidate below 1680.00 to keep the bearish trend scenario active, as breaching it will lead the price to achieve new gains that start at 1690.00 and extend to 1710.00, while breaking 1665.00 is required to reinforce the chances of resuming the bearish trend that its next main target located at 1644.00.
The expected trading range for today is between 1650.00 support and 1685.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 22-09-2022
The GBPUSD pair rallied upwards to attack 1.1295 level and attempts to hold above it, which hints heading to attempt to start bullish correction on the intraday basis, which makes us prefer to stay aside until the price confirms its situation according to this level, as consolidating above it will push the price to achieve gains that start at 1.1410 and extend to 1.1475, while trading below it again will reactivate the main bearish trend scenario that its next target located at 1.1100.
The expected trading range for today is between 1.1220 support and 1.1400 resistance.
The expected trend for today: Neutral
Midday update for the EURUSD 22-09-2022
The EURUSD pair shows bullish bias to test the key resistance 0.9880, which urges caution from the upcoming trading, as breaching this level will stop the negative scenario expected for the upcoming period and push the price to recover, while the expected targets of the bearish wave are located at 0.9800 and extend to 0.9700.
The expected trading range for today is between 0.9730 support and 0.9900 resistance.
The expected trend for today: Bearish
The GBPCAD repeats the negative closings – Analysis – 22-9-2022
No change to the GBPCAD pair’s negative track, as it keeps providing frequent negative closings below the bearish channel’s resistance line at 1.5285, in addition to forming additional barrier at 1.5235 as appears on the chart.
These factors allow us to wait to gather the negative momentum to manage to activate the bearish track again, to expect crawling towards 1.5110 level soon, followed by repeating the pressure on the additional support 1.5000 in order to find a way to resume the negative attack in the upcoming period.
The expected trading range for today is between 1.5235 and 1.5110
The expected trend for today: Bearish