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Silver price approaches the target - Analysis - 24-05-2023
Silver price reached few pips away from our waited target at 23.00, and bounced bullishly to approach the key resistance 23.70, noticing that the price begins today with new negativity to head towards the mentioned target, motivated by the negative overlapping signal provided by stochastic now.
Therefore, the bearish trend scenario will remain valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that breaking the targeted level will push the price to 22.25 as a next correctional station, while holding below 23.70 and 23.85 levels represents key condition to achieve the waited targets.
The expected trading range for today is between 22.85 support and 22.85 resistance.
The expected trend for today: Bearish
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Gold price tests the resistance – Analysis - 24-05-2023
Gold prices bounced bullishly yesterday to test the key resistance 1977.25, and it keeps its stability below it, accompanied by stochastic loss to the positive momentum and witnessing negative overlapping signals now, while the EMA50 continues to press negatively on the price.
MoreThe USDCAD attempts to breach – Analysis - 24-05-2023
The USDCAD pair attempted to breach 1.3500 level but it returns to fluctuate below it, to keep the bearish trend active until now, which its targets begin by breaking 1.3480 to reinforce the chances of heading towards 1.3350 as a next main target.
MoreThe USDJPY gathers momentum – Analysis - 24-05-2023
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