Midday update for Gold 31-03-2021
Gold price fluctuates within sideways track since morning, keeping its stability below 1692.00, to keep the negative pressure valid for today, supported by the EMA50, waiting to resume the bearish trend that its next target located at 1665.00, reminding you that it is important to hold below 1692.00 to continue the expected decline.
The expected trading range for today is between 1660.00 support and 1695.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 31-03-2021
The GBPUSD pair tested the intraday bearish channel’s resistance, and the price needs to hold below 1.3835 to keep the bearish trend scenario active for the upcoming period, as breaching this level will push the price back to the main bullish track again, while the main targets of the expected bearish wave are located at 1.3675 followed by 1.3580.
The expected trading range for today is between 1.3640 support and 1.3800 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 31-03-2021
The EURUSD pair shows some bullish bias now, affected by stochastic positivity, and as long as the price is below 1.1780, our bearish overview will remain valid for today, supported by the negative pressure formed by the EMA50, reminding you that our next main target extends to 1.1605.
The expected trading range for today is between 1.1605 support and 1.1780 resistance.
The expected trend for today: Bearish
Wheat price reaches the target – Analysis - 31-03-2021
Wheat price traded with strong negativity yesterday to reach the thresholds of the waited target at 596.30, reminding you that the price is affected by the previously completed double top pattern, which has negative targets that surpass the mentioned level to reach 566.80.
Therefore, the bearish trend will remain dominant in the upcoming sessions unless breaching 614.60 and holding above it.
The expected trading range for today is between 590.00 support and 605.00 resistance.
The expected trend for today: Bearish