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Midday update for Gold 28-10-2022
Gold price declines again to break 1660.00 followed by 1655.00 levels and hints the return to the main bearish trend again, which makes us stay aside until the price confirms its situation according to 1660.00 level, as consolidating below it will press on the price to decline towards 1635.00 followed by 1615.00 levels as next negative targets, while trading above it again will push the price to rise and head towards 1686.40 mainly.
The expected trading range for today is between 1640.00 support and 1670.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 28-10-2022
The GBPUSD pair shows negative trades to move below 1.1560 level, which urges caution from the upcoming trading, as holding below this level will stop the morning suggested positive scenario and press on the price to turn to decline and achieve negative targets that start at 1.1405, while stepping above it will reactivate the positive scenario that its next target located at 1.1700.
The expected trading range for today is between 1.1470 support and 1.1600 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 28-10-2022
The EURUSD pair faces new negative pressure to move away from 1.0000 level, which pushes the price to achieve more expected decline for the rest of the day, on its way to visit 0.9890 followed by 0.9850 levels as next main stations.
Therefore, the bearish bias will be suggested for the upcoming sessions unless breaching 1.0000 and holding above it.
The expected trading range for today is between 0.9870 support and 1.0000 resistance.
The expected trend for today: Bearish for the rest of the day
Coffee price suffers big losses – Analysis – 28-10-2022
Coffee price faced strong negative pressures due to the major indicators that provide the negative momentum, to notice crawling below 186.50 level, which formed the extension of the minor bearish channel’s support line, to move into new bearish track by reaching 177.85.
We will depend on 196.40 level forming the major barrier in addition to the continuous negative momentum to confirm targeting new negative stations that might start at 165.60 and 153.60.
The expected trading range for today is between 187.00 and 165.60
The expected trend for today: Bearish