Platinum price presses on the moving average – Forecast today – 2-4-2024
Analysis of Platinum Price Movement
- Platinum price started to form new positive waves to notice providing new pressures on the EMA55 at 913.00$ in order to find a way to resume the main bullish attack in the upcoming period.
- The suggested positivity depends on the frequent stability above 892.00$ support line, in addition to stochastic attempt to provide the positive momentum, thus, we will keep our bullish overview that might target 932.00$ initially, followed by reaching the first main target at 950.00$.
Expected Trading Range for Today
- The expected trading range for today is between 900.00$ and 932.00$
Trend forecast: Bullish
The USDCHF price resumes the bullish bias – Forecast today - 02-04-2024
Market Analysis for USDCHF Pair
The USDCHF pair returned to rise after the decline that it witnessed in the previous sessions, settling around 0.9050$ now. It is waiting for more rise to achieve our positive targets that start at 0.9105 followed by 0.9150.
The bullish channel continues to organize the bullish wave, which gets good support by the EMA50. However, breaking 0.9000 will threaten trading inside the mentioned channel and might force the price to start bearish correction on the intraday basis.
Trading Range Forecast
The expected trading range for today is between 0.9000 support and 0.9130 resistance.
Trend forecast: Bullish
The NZDUSD price continues to decline – Forecast today - 02-04-2024
Market Analysis for NZDUSD Price
- The NZDUSD price shows more decline to gradually approach our waited target at 0.5915$, with the potential to surpass this level and achieve additional negative targets on the longer-term basis.
- The EMA50 keeps supporting the suggested bearish wave, which will remain valid unless the price rallies to breach 0.6000$ and hold above it.
Trading Range Forecast
The expected trading range for today is between 0.5890$ support and 0.5990$ resistance.
Trend forecast: Bearish
The AUDUSD price gets negative close – Forecast today - 02-04-2024
Market Analysis for AUDUSD Price
- The AUDUSD price broke the 0.6500$ level clearly and ended yesterday below it, reinforcing the expectations of continuing the bearish trend efficiently for the upcoming period.
- This opens the way to achieve new negative targets starting at 0.6450$ followed by 0.6410$.
- The negative scenario will remain dominant on the intraday basis, supported by the negative pressure formed by the EMA50.
- Breaking 0.6500$ will lead the price to start recovery attempts and head to test 0.6570$ areas initially.
Trading Range Forecast
The expected trading range for today is between 0.6430$ support and 0.6520$ resistance.
Trend forecast: Bearish