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Evening update for Crude oil price 02-05-2023
Crude oil prices declined strongly to surpass our waited target at 73.85 and approaches 61.8% Fibonacci correction level at 71.55, and the way seems open to continue the decline and surpass this level and suffer more losses in the upcoming period, noting that the next negative target reaches 68.75, while the expected decline will remain valid unless breaching 73.85 and holding above it.
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Evening update for Gold 02-05-2023
Gold prices rallied upwards strongly to breach 2005.35 level and head towards regaining the main bullish trend again, to stop the bearish correction that dominated the recent trades and achieve gains that we expect to reach 2048.70 areas on the near term basis, making the bullish bias suggested in the upcoming sessions unless breaking 1992.20 followed by 1985.00 levels and holding below them.
MoreEvening update analysis for the EURUSD 02-05-2023
The EURUSD pair found solid support at 1.0945 level, to rebound upwards clearly and hint heading to regain the main bullish trend again and stop the bearish correction, which urges caution from the upcoming trading, as surpassing 1.1000 and holding above it will provide more support to the chances of continuing the rise in the upcoming sessions, while breaking 1.0945 will press on the price to achieve additional bearish correction that targets 1.0860 as a next negative station.
MoreMidday update for the AUDUSD 02-05-2023
The AUDUSD pair rallied upwards clearly to breach 0.6665 level and test the key resistance 0.6715, which urges caution from the upcoming trading, as the price needs to consolidate below this resistance to keep the bearish trend active for the upcoming period, which moves within the bearish channel that appears on the chart, reminding you that our main waited target reaches 0.6550.
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