Midday update for Silver 06-01-2022
Silver price broke 22.60 level strongly to rally bearishly to achieve the first negative target at 22.20, and we suggest the continuation of the decline to surpass 22.00 and continue the bearish bias on the intraday basis to reach the next target 21.40, noting that holding below 22.60 represents key condition to continue the expected bearish trend.
The expected trading range for today is between 21.80 support and 22.60 resistance.
The expected trend for today: Bearish
Midday update for Gold 06-01-2022
Gold price faces additional negative pressure to break 1797.00 and attempts to hold below it, to hint heading to achieve more decline in the upcoming sessions, and the price needs to confirm the break to open the way to rally towards 1770.00 as a next negative station.
Until now, our neutrality will remain valid until the price confirms breaking 1797.00 support or breaching 1825.15 to confirm the next destination clearly.
The expected trading range for today is between 1780.00 support and 1825.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 06-01-2022
The GBPUSD pair provided additional negative trades to reach the thresholds of the waited target at 1.3485, and we need to monitor the upcoming trading to detect the next trend clearly, as breaking this level will push the price to 1.3410 as a next negative target, while consolidating above it will lead the price to return to the bullish trend that its targets begin by testing 1.3565.
Therefore, we prefer to stay neutral now until we get clearer signal for the next trend.
The expected trading range for today is between 1.3460 support and 1.3600 resistance.
The expected trend for today: Neutral
Midday update for the EURUSD 06-01-2022
The EURUSD pair resumes its negative trading to approach the key support 1.1280, waiting to break this level to confirm rallying towards our expected negative target at 1.1150.
In general, we will continue to suggest the bearish trend for the upcoming period unless breaching 1.1375 and holding above it.
The expected trading range for today is between 1.1230 support and 1.1380 resistance.
The expected trend for today: Bearish