Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD

Silver price forecast update 07-08-2024

Economies.com
2024-08-07 10:20AM UTC

Silver price shows sideways trades since morning, while stochastic keeps losing the positive momentum, to continue suggesting the bearish trend for today as long as 27.62$ level remains intact, organized inside the bearish channel that appears on the chart, reminding you that our next main target is located at 26.12$.

 

The expected trading range for today is between 26.50$ support and 27.50$ resistance.

 

Trend forecast: Bearish

Gold price forecast update 07-08-2024

Economies.com
2024-08-07 10:19AM UTC

Gold price hovers around 2386.00$ level since morning, and we still neutral until we get clearer signal for the next trend, to continue monitoring the price according to this level.

 

We remind you that facing additional negative pressure and breaking this level will push the price to decline towards 2324.55$ as a main negative target, while holding above it will push the price to build new bullish wave that targets 2450.00$ followed by 2483.40$ levels as next positive stations.

 

The expected trading range for today is between 2365.00$ support and 2410.00$ resistance.

 

Trend forecast: Neutral

The GBPUSD forecast update 07-08-2024

Economies.com
2024-08-07 10:19AM UTC

The GBPUSD price shows weak trades since morning, and as long as the price is below 1.2780$, our bearish overview will remain valid for today, reminding you that our targets begin by breaking 1.2670$ to open the way to rally towards 1.2585$ as a next negative station.

 

The expected trading range for today is between 1.2630$ support and 1.2780$ resistance.

 

Trend forecast: Bearish

The EURUSD price forecast update - 07-08-2024

Economies.com
2024-08-07 10:19AM UTC

The EURUSD price didn’t show any strong move since morning, waiting to resume the negative trading and head towards 1.0800$ that represents our next main target.

 

Breaking 1.0905$ will ease the mission to achieve the expected decline, which will remain valid unless breaching 1.0947$ and holding above it.

 

The expected trading range for today is between 1.0830$ support and 1.0980$ resistance.

 

Trend forecast: Bearish