Midday update for Gold 25-05-2023
Gold prices shows some slight bullish bias, as it is affected by stochastic positivity, but as long as the price is below 1977.25, the bearish trend scenario will remain valid for today, supported by the negative pressure formed by the EMA50, reminding you that our targets begin at 1945.20 and extend to 1913.15 after breaking the previous level.
Note that breaching 1977.25 will stop the negative scenario and push the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 1940.00 support and 1970.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 25-05-2023
The GBPUSD pair trades positively after finding solid support at 1.2345 level, affected by stochastic positivity, waiting to get negative motive that assists to push the price to break the mentioned level and confirm opening the way to visit 1.2240 as a next correctional target.
We should note that the continuation of the rise and breaching 1.2385 will push the price to achieve additional gains and visit 1.2435 and might extend to 1.2470 before turning back to decline again.
The expected trading range for today is between 1.2260 support and 1.2400 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 25-05-2023
The EURUSD pair touched 1.0730 and achieved initial break to it, reinforcing the expectations of continuing the bearish trend for the rest of the day, reminding you that our next target is located at 1.0650.
The bearish channel continues to organize the suggested bearish wave, which gets continuous support by the EMA50, noting that failing to consolidate below 1.0730 might push the price to achieve intraday gains and test 1.0765 followed by 1.0795 areas before any new attempt to decline.
The expected trading range for today is between 1.0650 support and 1.0800 resistance.
The expected trend for today: Bearish
The AUDCAD pair surpasses the target – Analysis – 25-5-2023
The AUDCAD pair confirmed its surrender to the domination of the bearish bias by fluctuating below the bearish channel’s resistance recently at 0.8995, to notice forming strong negative attack and surpass the first negative target at 0.8900.
Now, the continuous negative momentum coming by the major indicators will increase the chances of confirming breaking 0.8900 level, to ease the mission of reaching the additional negative stations that might start at 0.8830 and 0.8785.
The expected trading range for today is between 0.8910 and 0.8830
The expected trend for today: Bearish