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Crude Oil price forecast update 06-02-2025
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Gold price forecast update 06-02-2025
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The GBPCAD still bullish – Forecast today – 6-2-2025
The GBPCAD price lost the positive momentum recently after reaching 1.8160 level, to activate the correctional bearish track and achieve some gains by declining towards 1.7850, approaching the additional support at 1.7800.
Note that holding within the bullish channel and the consolidation of the MA55 near the mentioned additional support line will reinforce the chances of renewing the bullish attempts, to expect rallying towards 1.7980 soon, followed by attempting to renew the pressure on 1.8070 obstacle.
The expected trading range for today is between 1.7865 and 1.7980
Trend forecast: Bullish
The EURJPY surpasses the first target – Forecast today – 6-2-2025
The EURJPY pair resumed forming clear negative trades to notice crawling below the first negative target at 158.40, hinting its preparation to form new negative waves now.
The frequent stability below 160.25 barrier and getting negative momentum by the major indicators will increase the chances of targeting 157.35 support line soon, while breaking it will push the price to suffer new losses by crawling towards 156.20.
The expected trading range for today is between 157.35 and 159.20
Trend forecast: Bearish