Silver Price Analysis

Expected Scenario

• Silver price is testing 29.30$, and the price needs to hold below this level to keep the correctional bearish trend active for today, which its next target located at 28.55$.
• Therefore, we will continue to suggest the bearish trend for today unless breaching 29.30$ and holding above it, which will lead the price to start new recovery attempts that target testing 30.06$ initially.

Expected Trading Range

Between 28.60$ support and 29.55$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price shows weak trades since morning, settling around 2300.00$ level, while stochastic continues to provide the negative signals, waiting to resume the expected bearish wave for today, which its targets begin at 2272.06$ and extend to 2217.10$ after breaking the previous level, reminding you that the continuation of the bearish trend depends on the price stability below 2340.10$.

Expected Trading Range

Between 2275.00$ support and 2315.00$ resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price shows some slight bearish bias to head towards new potential test to 1.2700$ level, and as long as the price is above this level, our bullish overview will remain valid for today, as breaking it will force the price to suffer intraday losses that reach 1.2580$, while the price needs to breach 1.2750$ to reinforce the chances of rallying towards 1.2800$ followed by 1.2893$ levels as next main targets.

Expected Trading Range

Between 1.2660$ support and 1.2820$ resistance.

EURUSD Price Analysis

Expected Scenario

• The EURUSD price is testing the key support 1.0760$ now, and as we mentioned this morning, holding above this level is required to keep the bullish trend active for today, which targets 1.0795$ followed by 1.0840$ levels.
• Stochastic negativity interprets the reasons of the current bearish bias, noting that breaking 1.0760$ will put the price under new negative pressure to head towards testing 1.0720$ followed by 1.0675$ levels.

Expected Trading Range

Between 1.0700$ support and 1.0850$ resistance.