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Midday update for Silver 02-05-2023
Silver price shows additional negative trades to start pressing on 24.60 level, waiting to break this level to confirm rallying towards the next correctional target at 23.70.
The EMA50 forms negative pressure that supports the continuation of the expected bearish trend, which will remain valid conditioned by the price stability below 25.50.
The expected trading range for today is between 24.40 support and 25.20 resistance.
The expected trend for today: Bearish
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Midday update for Gold 02-05-2023
Gold prices continues to fluctuate around the symmetrical triangle’s support line, noticing that the price attempts to consolidate below it, reinforcing the expectations of continuing the correctional bearish trend, waiting to visit 1957.30 as a next negative station.
MoreMidday update for the GBPUSD 02-05-2023
The GBPUSD pair faces additional negative pressure to attack the bullish channel’s support line and attempts to hold below it, to hint heading to turn to decline and start bearish correction for the rise that started from 1.1800 areas, paving the way to achieve negative targets that start by visiting 1.2400 areas.
MoreMidday update for the EURUSD 02-05-2023
The EURUSD pair shows more bearish bias to achieve our waited target at 1.0945, and we suggest the continuation of the negative pressure to break this level and open the way to achieve more bearish correction that its next target reaches 1.0860.
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