Midday update for Silver 16-05-2022
Silver price shows some bullish bias now after the negative attempt that it witnessed this morning, and stochastic continues to provide the negative signals to keep the chances to continue the bearish trend for the upcoming period, which gets continuous support by the EMA50, reminding you that our next target extends to 19.75, while breaching 21.65 will stop the expected decline and lead the price to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 20.50 support and 21.30 resistance.
The expected trend for today: Bearish
Midday update for Gold 16-05-2022
Gold price provided clear negative trades and approached 1780.25 level, to support the expectations of continuing the decline in the upcoming sessions, noting that breaking the mentioned level will push the price to 1765.00 as a next negative target, while the expected decline will remain valid unless the price rallied to breach 1850.00 and hold above it.
The expected trading range for today is between 1780.00 support and 1825.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 16-05-2022
The GBPUSD pair shows more bearish bias to move away from the bearish channel’s resistance, motivated by stochastic negativity, waiting for additional negative trades to achieve our targets that start at 1.2165 followed by 1.2080, reminding you that the continuation of the bearish wave depends on the price stability below 1.2295.
The expected trading range for today is between 1.2160 support and 1.2320 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 16-05-2022
The EURUSD pair surpassed 1.0405 level and settled above it, to head towards achieving more expected intraday bullish correction in the upcoming sessions, and we prefer to monitor the upcoming trading to confirm the next destination clearly, noting that breaching 1.0435 will push the price to 1.0490 as a next positive station, while breaking 1.0405 will reactivate the main negative scenario to head towards testing 1.0355 initially.
Therefore, we will stay aside temporarily until the price confirms surpassing one of the above mentioned levels.
The expected trading range for today is between 1.0350 support and 1.0480 resistance.
The expected trend for today: Neutral