Silver price confirms the breach - Forecast today - 04-12-2024
Silver price ended yesterday above 30.63$, to confirm the activation of the positive scenario on the intraday basis, targeting 31.63$ areas mainly.
Moving above the EMA50 supports the expected rise, and it might witness some temporary sideways fluctuation affected by stochastic negativity, noting that breaking 30.63$ will stop the suggested bullish wave and push the price to decline again.
The expected trading range for today is between 30.65$ support and 31.50$ resistance.
Trend forecast: Bullish
No news for gold price – Forecast today - 04-12-2024
Gold price keeps fluctuating within tight range, setting around 2645.00$, which keeps the recently suggested negative scenario valid for the upcoming period, which its targets begin by testing 2600.00$, noting that breaching 2665.00$ will stop the suggested bearish wave and push the price to recover and regain the main bullish trend again.
The expected trading range for today is between 2620.00$ support and 2660.00$ resistance.
Trend forecast: Bearish
The USDCAD price awaits more rise – Forecast today - 04-12-2024
The USDCAD price shows positive trades by today’s open to attempt to reach the broken support line of the bullish channel, which turns into key resistance now at 1.4105$, as the price needs to breach this level to support the expectations of continuing the bullish trend, which its next target located at 1.4178$.
The EMA50 keeps supporting the price from below to reinforce the positive overview, noting that breaking 1.4000$ will push the price to achieve new bearish correction that its next target reaches 1.3888$.
The expected trading range for today is between 1.4020$ support and 1.4150$ resistance
Trend forecast: Bullish
The USDJPY price tests the resistance – Forecast today - 04-12-2024
The USDJPY price traded with clear positivity yesterday to reach the key resistance 150.20, and as we mentioned in our last report, holding below this level keeps the correctional bearish scenario valid, waiting to visit 148.16 mainly.
The EMA50 keeps pressing negatively on the price to support the expectations to decline, reminding you that breaching 150.20 will stop the bearish wave and push the price to turn to rise.
The expected trading range for today is between 148.80 support and 150.20 resistance
Trend forecast: Bearish