Midday update for Gold 27-02-2020
Gold price fluctuates near 1655.90 level, and we still waiting to breach this level to confirm the continuation of the main bullish trend, noting that the EMA50 keeps supporting the price from below, to keep our positive overview that targets 1720.00 areas mainly, while holding above 1635.20 represents key condition to continue the suggested rise.
The expected trading range for today is between 1635.00 support and 1670.00 resistance.
The expected trend for today: Overall Bullish
Midday update for the GBPUSD 27-02-2020
The GBPUSD pair continues to fluctuate around 1.2920 level and still below it, to keep the bearish trend valid and active for today, supported by the negative pressure formed by the EMA50, waiting to target 1.2736 level as a next main station, reminding you that it is important to hold below 1.3040 to continue the expected decline.
The expected trading range for today is between 1.2830 support and 1.3000 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 27-02-2020
The EURUSD pair shows additional positive trades to reach 38.2% Fibonacci correction level at 1.0954, to hint the price head to achieve more gains in the upcoming sessions, but we still neutral until we get clearer signal for the next trend, which we will get through breaching the mentioned resistance or breaking 1.0887 support.
Note that breaching the resistance will push the price to 1.1008 as a next correctional target, while breaking the support represents the key to return to the main bearish track that its first target located at 1.0760.
The expected trading range for today is between 1.0830 support and 1.0985 resistance.
The expected trend for today: Neutral
Copper price looks weak – Analysis – 27-02-2020
Copper price forms a new bearish wave yesterday, recording 2.5325 level to surrender to the negative pressures that come from the stochastic fluctuation below 50 level besides the moving average 55 above the current trading.
and that will increase the chances for forming temporary negative trading, to expect the price attempt to test the critical support at 2.4900, then monitor its behavior until confirming the main trend in the upcoming trading.
The expected trading range for today is between 2.5800 and 2.4900
The expected trend for today: Bearish