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Midday update for Silver 29-03-2018
Silver price shows bearish bias to test the sideways range support line that appears on the chart, located at 16.15, and as long as the price is between this level and 16.80 resistance, the sideways move scenario will remain dominant until the price manages to surpass one of these levels.
To review the expected targets after the breach, please check our morning report, noting that stochastic and the EMA50 provide negative signals that might make the continuation of decline for the rest of the day more likely.
Expected trading range for today is between 16.20 support and 16.60 resistance.
Expected trend for today: Sideways
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Midday update for Gold 29-03-2018
Gold price resumes its negative trading now on its way to test 1316.48 that represents our main waited target, noting that it is important to monitor the price behavior when reaching the mentioned level, as breaking it will extend the correctional bearish wave to reach 1301.20 as a next station.
MoreMidday update for GBPUSD 29-03-2018
The GBPUSD pair shows expected bearish bias on its way for a potential test to 1.3985 level, and as long as the price is above this level, the bullish trend scenario will remain active on the short term basis, as breaking it will push the price to visit 1.3817 level mainly.
MoreMidday update for EURUSD 29-03-2018
The EURUSD pair returns to test the key support 1.2304 and attempts to break it, which urges caution from the upcoming trading, as closing the four hours’ candlestick below this level will push the price to continue the decline for the rest of the day and paves the way to target 1.2160 level mainly.
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