Midday update for Gold 26-05-2017
Gold price trades with strong positivity since morning to breach 1263.00 level and attempts to settle above it, activating the bullish trend on the intraday basis, and the price needs four hours close initially to confirm the continuation of the bullish bias for the rest of the day.
Therefore, we prefer witnessing more of the upside moves in the upcoming sessions, supported by stochastic and the EMA50 positivity, pointing that our next main target at 1.295.37, while the suggested rise will remain valid unless breaking 1249.94 level and holding below it.
Expected trading range for today is between 1240.00 support and 1275.00 resistance.
Expected trend for today: Bullish
Midday update for GBPUSD 26-05-2017
The GBPUSD pair traded with clear negativity this morning to break the critical support at 1.2890 and settles below it, which provides signals for heading to the downside on the intraday basis, targeting testing 1.2720 levels before any new attempt to rise.
Therefore, the bearish bias will be preferred for the rest of the day unless stepping above 1.2890 level and holding above it again.
Expected trading range for today is between 1.2800 support and 1.2950 resistance.
Expected trend for today: Bearish for the rest of the day
Midday update for EURUSD 26-05-2017
The EURUSD pair shows bullish bias now in attempt to resume the main bullish trend, supported by the positive overlapping signal that comes from stochastic, which keeps the bullish trend scenario valid for the rest of the day, waiting for visiting 1.1365 level mainly.
The EMA50 continues to support the suggested bullish wave, and its continuation conditioned by holding above 1.1123 level.
Expected trading range for today is between 1.1123 support and 1.1320 resistance.
Expected trend for today: Bullish
CADCHF leans on the main support – Analysis – 26-5-2017
The CADCHF pair kept its positive stability by providing new close above the main support at 0.7170, which allows us to continue suggesting the bullish attempts on the near term and medium term basis until reaching 0.7345 followed by 0.7510 levels.
The contradiction between the major indicators might force the price to provide intraday sideways trading, but stochastic stability above 50 level reinforces the bullish attempts to continue easing the attempt to gather the bullish momentum and manage to reach our suggested targets.
Expected trading range for today is between 0.7170 and 0.7345
Expected trend for today: Bullish