Midday update for Gold 31-03-2023
Gold price continues to fluctuate inside the symmetrical triangle’s pattern, waiting to breach 1992.00 to activate the positive effect of this pattern followed by rallying towards our positive targets that start at 2000.00 and extend to 2040.00.
The EMA50 continues to support the suggested bullish wave, waiting to get positive motive that assists to push the price to resume the expected rise, reminding you that it is important to hold above 1962.50 to achieve the waited targets.
The expected trading range for today is between 1965.00 support and 2000.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 31-03-2023
The GBPUSD pair tested 1.2400 barrier and bounced bearishly to trade at the intraday bullish channel’s support line, and the price needs to consolidate above this support to keep the bullish trend scenario valid for the upcoming period, as the EMA50 meets this support to add more strength to it.
Therefore, we will keep our bullish overview conditioned by the price stability above 1.2325 and 1.2270 levels, noting that our targets begin at 1.2440 and extend to 1.2610 after surpassing the previous level.
The expected trading range for today is between 1.2310 support and 1.2480 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 31-03-2023
The EURUSD pair shows some slight bearish bias now, affected by stochastic negativity, waiting to gather enough positive momentum to push the price to resume the bullish wave that targets 1.1032 areas as a next main station.
Until now, the bullish trend scenario still valid and active, supported by the EMA50, noting that breaking 1.0850 will press on the price to achieve intraday decline that targets testing the key support 1.0745 before any new attempt to rise.
The expected trading range for today is between 1.0840 support and 1.1000 resistance.
The expected trend for today: Bullish
The GBPCAD keeps the positivity – Analysis – 31-3-2023
The GBPCAD pair formed bullish channel recently, to notice recording many gains by touching 1.6700 level, as the frequent stability above the major support at 1.6480 and 1.6675 level attempt to form additional support allow us to expect the beginning of gathering the additional momentum, to ease the mission of reaching the additional positive stations near 1.6930 and 1.7020.
The expected trading range for today is between 1.6700 and 1.6860
The expected trend for today: Bullish