Midday update for Silver 05-06-2023
Silver price shows new negative trades to press on 23.50 level, waiting to break this level to add more confirmation to the continuation of the bearish trend in the upcoming sessions, reminding you that our next station is located at 23.00.
Therefore, the bearish bias will remain dominant and active on the intraday basis, reminding you that it is important to hold below 23.70 to achieve the waited targets.
The expected trading range for today is between 23.00 support and 23.85 resistance.
The expected trend for today: Bearish
Midday update for Gold 05-06-2023
Gold prices achieved initial break to 1945.20 level and closed the last four hours’ candlestick below it, which supports the continuation of the expected bearish trend for today efficiently, paving the way to head towards 1913.15 as a next main target, waiting for more decline in the upcoming sessions, noting that holding below 1945.20 represents initial condition to continue the bearish wave, as breaching it might push the price to start recovery attempts that target testing 1977.25 areas initially.
The expected trading range for today is between 1925.00 support and 1960.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 05-06-2023
The GBPUSD pair provides clear negative trades to break 1.2430 level and reinforce the expectations of continuing the bearish trend domination in the upcoming sessions, and the way is open to achieve our next waited target at 1.2345, noting that breaking it will push the price to the next correctional level at 1.2240.
Moving below the EMA50 supports the suggested bearish wave, which will remain valid conditioned by the price stability below 1.2470.
The expected trading range for today is between 1.2345 support and 1.2495 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 05-06-2023
The EURUSD pair shows slight bearish bias since morning, to move below 1.0700 barrier, reinforcing the expectations of continuing the bearish trend for the rest of the day, which targets testing 1.0650 initially, reminding you that breaking it will push the price to 1.0520 as a next negative station.
Therefore, we are waiting for more decline in the upcoming sessions, taking into consideration that the continuation of the bearish wave requires holding below 1.0730.
The expected trading range for today is between 1.0610 support and 1.0760 resistance.
The expected trend for today: Bearish