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Silver price forecast update 06-11-2024
Silver price declined strongly to surpass our waited target at 31.95$ and approaches the second target at 31.25$, but it attempts to cover these loses to trade positively and head towards potential test to 32.50$ level, noting that holding below this level will keep the bearish trend dominant in the upcoming sessions, to head towards visiting 31.25$ mainly.
Note that breaching 32.50$ followed by 33.04$ levels will stop the bearish trend and push the price to turn to rise.
The expected trading range for today is between 31.50$ support and 32.80$ resistance.
Trend forecast: Bearish
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Gold price forecast update 06-11-2024
Gold price traded with strong negativity to surpass our first target at 2718.80$ and approaches the second waited target at 2696.85$, noticing that the price attempts to recover now to head towards potential test to the key resistance 2746.00$, and as long as the price is below this level, the correctional bearish scenario will remain valid for the upcoming period, waiting to achieve more negative targets.
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The GBPUSD price succeeded to achieve our first waited target at 1.2866$ and presses negatively on it now, to support the expectations of continuing the domination of the bearish correction and head to visit 1.2735$ areas as a next negative station.
MoreThe EURUSD price forecast update - 06-11-2024
The EURUSD price broke 1.0760$ level clearly and achieved our first waited negative target at 1.0700$, reinforcing the expectations of continuing the domination of the bearish trend for the rest of the day, accompanied by coming to the end of the US elections and announcing Donald Trump win, reminding you that the next target reaches 1.0650$.
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