Midday update for Gold 24-05-2022
Gold price shows positive trades to move away from 1850.00, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, organized inside the bullish channel that supports the chances of heading towards our next target at 1890.00, noting that the continuation of the bullish wave requires holding above 1850.00 and 1838.10 levels.
The expected trading range for today is between 1840.00 support and 1875.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 24-05-2022
The GBPUSD pair trades with strong negativity after facing solid resistance at 1.2590, to head towards potential test to the key support 1.2420 in the upcoming sessions, making the bearish bias suggested for the rest of the day, being aware that it is important to monitor the price when reaching the mentioned target, as breaking it will press on the price to resume the main bearish track again, while breaching 1.2590 represents the key to resume the correctional bullish wave on the intraday basis.
The expected trading range for today is between 1.2420 support and 1.2560 resistance.
The expected trend for today: Bearish for the rest of the day
Midday update for the EURUSD 24-05-2022
The EURUSD pair rallied upwards strongly to move away from 1.0670 level, reinforcing the expectations of continuing the bullish trend, and the way is open to achieve our next waited target at 1.0770, supported by the EMA50, noting that holding above 1.0670 is important to continue the expected rise.
The expected trading range for today is between 1.0600 support and 1.0760 resistance.
The expected trend for today: Bullish
Copper price repeats the positive closes– Analysis – 24-5-2022
Copper price repeated providing positive closes above 38.2% Fibonacci correction level, to form a temporary support at 4.1800, to increase the chances for resuming the bullish correctional attempts to record 4.3500 level, note that the continuation of providing positive momentum by stochastic will ease the mission of reaching the resistance at 4.4000, to monitor the price behavior, which allows us to detect the main targets for the upcoming trading.
The expected trading range for today is between 4.2500 and 4.4000
The expected trend for today: Bullish