Midday update for Gold 23-02-2021
Gold price shows some bearish bias to move away gradually from the bearish channel’s resistance, to reinforce the signals of turning back to decline, but we still neutral until the price confirms breaking 1800.00 support or breaching 1820.00 resistance to detect the next targets clearly.
To review the expected targets after the breach, please check our morning report.
The expected trading range for today is between 1790.00 support and 1830.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 23-02-2021
The GBPUSD pair resumes its positive trading to start testing 1.4100 barrier, which supports the continuation of the bullish trend scenario for the rest of the day, reminding you that our next target is located at 1.4200, to keep the price inside the bullish channel that appears on the chart, reminding you that it is important to hold above 1.4000 to achieve the waited targets.
The expected trading range for today is between 1.4000 support and 1.4170 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 23-02-2021
The EURUSD pair faces solid resistance at 1.2173, to show some slight bearish bias now, affected by stochastic negativity, while the EMA50 continues to support the price from below.
Until now, the bullish trend scenario will remain valid for today as long as 1.2064 remains intact, reminding you that our targets begin by breaching 1.2173 to open the way to head towards 1.2300 as a next station.
The expected trading range for today is between 1.2100 support and 1.2260 resistance.
The expected trend for today: Bullish
The GBPCHF continues to rise – Analysis – 23-2-2021
The GBPCHF kept its stability within the bullish channel, to notice its consolidation above 1.2520 to form additional support against the bullish trades.
Also, stochastic fluctuation within the overbought areas will increase the positive pressures by providing the positive momentum, allowing us to suggest more rise in the near term and medium term period until reaching 1.2710 followed by attempting to touch the main resistance at 1.2785.
The expected trading range for today is between 1.2520 and 1.2710
The expected trend for today: Bullish