Midday update for Silver 12-02-2024
Silver price shows clear positive trades to reach the waited target at 23.00, and the way seems open to surpass this level and achieve additional gains that reach 23.70.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period, supported by the EMA50 that carries the price from below, reminding you that it is important to hold above 22.25 to continue the expected rise.
The expected trading range for today is between 22.40 support and 23.10 resistance.
The expected trend for today: Bullish
Midday update for Gold 12-02-2024
Gold price almost didn’t show any move since morning, noticing that stochastic begins to overlap positively now, waiting to motivate the price to resume the expected bullish trend for today, which depends on the price stability above 2016.90, while its targets begin by breaching 2032.00 to ease the mission of rallying towards 2065.70 as a next main station.
The expected trading range for today is between 2010.00 support and 2040.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 12-02-2024
The GBPUSD pair is testing 1.2645 level and finds solid resistance there, waiting to gather positive momentum that assist to push the price to surpass this level and open the way to achieve additional gains that reach 1.2765.
In general, we will continue to suggest the bullish trend for the upcoming period unless breaking 1.2610 and holding with a daily close below it.
The expected trading range for today is between 1.2570 support and 1.2720 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 12-02-2024
The EURUSD pair shows some slight bearish bias to head towards potential test to the key support 1.0765, affected by stochastic negativity, and as we mentioned this morning, the price needs to hold above this level to keep the bullish trend scenario active for today, as breaking it will put the price under additional negative pressure to turn to decline, while the next target of the expected bullish wave is located at 1.0860.
The expected trading range for today is between 1.0740 support and 1.0880 resistance.
The expected trend for today: Bullish