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Midday update for Gold 29-03-2018
Gold price resumes its negative trading now on its way to test 1316.48 that represents our main waited target, noting that it is important to monitor the price behavior when reaching the mentioned level, as breaking it will extend the correctional bearish wave to reach 1301.20 as a next station.
In general, we will continue to suggest the bearish trend unless the price managed to breach 1335.40 and hold above it.
Expected trading range for today is between 1316.00 support and 1335.00 resistance.
Expected trend for today: Bearish
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Midday update for GBPUSD 29-03-2018
The GBPUSD pair shows expected bearish bias on its way for a potential test to 1.3985 level, and as long as the price is above this level, the bullish trend scenario will remain active on the short term basis, as breaking it will push the price to visit 1.3817 level mainly.
MoreMidday update for EURUSD 29-03-2018
The EURUSD pair returns to test the key support 1.2304 and attempts to break it, which urges caution from the upcoming trading, as closing the four hours’ candlestick below this level will push the price to continue the decline for the rest of the day and paves the way to target 1.2160 level mainly.
MoreCopper affected by the indicator’s contradiction – Analysis – 29-3-2018
Copper price was affected by the clash of the major indicators, as stochastic rallied above 20 level to notice showing some positive trades, while the sideways trading might continue until gathering new negative momentum to manage to resume the negative attack and start achieving targets by moving towards 2.8500 in the upcoming period.
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