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Midday update for Silver 01-03-2024
Silver price faced strong negative pressure to attempt to return to the bearish channel but it returns to trade above it, and the price needs to hold above this level to keep the positive scenario active for today and guarantee heading towards 23.00 as a main positive target.
On the other hand, we should note that the continuation of the decline and breaking 22.25 will stop the expected rise and push the price to resume the bearish wave within the bearish channel that appears on the chart.
The expected trading range for today is between 22.30 support and 23.00 resistance.
The expected trend for today: Bullish
Midday update for Gold 01-03-2024
Gold price retested the breached neckline of the inverted head and shoulders’ pattern and bounced upwards from there, and the price needs to consolidate above 2040.00 as a first condition to the continuation of the expected bullish trend for today and continue the positive effect of the mentioned pattern, noting that our waited target is located at 2065.70.
MoreMidday update for the GBPUSD 01-03-2024
The GBPUSD pair keeps its stability below 1.2650, to keep the correctional bearish trend valid for today, waiting to visit 1.2540 as a next main target.
MoreMidday update for the EURUSD 01-03-2024
The EURUSD pair fluctuates around the EMA50 since morning, and didn’t show any strong move since morning, waiting to get negative motive that assist to push the price to resume the expected bearish trend for today, which targets 1.0765 initially, reminding you that breaking it will push the price towards 1.0645 direct.
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