Midday update for Gold 26-02-2020
Gold price resumes its positive trades to start testing 1655.90 level, and as we mentioned this morning, breaching this level is required to confirm the continuation of the expected bullish wave for the upcoming period, which its next main target located at 1720.00.
Therefore, we will keep our bullish overview for today conditioned by the price stability above 1635.20, noting that the EMA50 and stochastic provide positive signals that support the expected rise.
The expected trading range for today is between 1630.00 support and 1665.00 resistance.
The expected trend for today: Overall Bullish
Midday update for the GBPUSD 26-02-2020
The GBPUSD pair resumes its negative trading to move below the intraday bearish channel’s resistance again, to support the expectations of continuing the bearish trend in the upcoming sessions, and the price needs to break 1.2920 to confirm the continuation of the decline towards 1.2736 that represents our next main target.
Therefore, we will continue to suggest the bearish trend for today conditioned by the price stability below 1.3050.
The expected trading range for today is between 1.2880 support and 1.3050 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 26-02-2020
The EURUSD pair shows new positive trades to attack 1.0887 level and attempts to hold above it, which urges caution from the upcoming trading, as confirming breaching this level will stop the morning suggested negative scenario and pushes the price to achieve more correctional bullish targets that reach 1.0954 as a next station, while the price needs to trade below 1.0887 again to confirm resuming the decline that its first main target located at 1.0760.
The expected trading range for today is between 1.0780 support and 1.0920 resistance.
The expected trend for today: Bearish
Copper price loses the positive momentum – Analysis – 26-2-2020
Copper price began suffering negative pressures by stochastic decline below 50 level, to notice delaying the bullish attack and its stability near the initial support at 2.5460 for today.
the stability of the current support supports the bullish suggestion that targets 2.6100 and 2.6700 level, while the price attempt to reach below this support and holding below it, so that will force it to form strong negative trading to reach to the critical support at 2.4900.
The expected trading range for today is between 2.5400 and 2.6100
The expected trend for today: Bullish