Silver Price Analysis

Expected Scenario

• Silver price is testing 29.80$ again, and as long as the price is below this level, our bearish overview will remain valid on the intraday basis, as breaching this level will push the price to achieve new gains that start at 30.35$ and extend to 31.00$, while the first target of the suggested bearish wave is located at 28.90$.

Expected Trading Range

Between 29.00$ support and 29.80$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price shows sideways trades since morning, and continues to move around 2380.00$ level, waiting to activate the positive effect of stochastic to resume the expected bullish wave for today, which its next targets located at 2400.00$ followed by 2431.44$.
• In general, the bullish trend will remain valid and active for today unless breaking 2325.90$ and holding below it.

Expected Trading Range

Between 2360.00$ support and 2400.00$ resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price provides additional negative trades to crawl towards 1.2630$ level, which represents the first protection factor to the continuation of the expected positive scenario for today, as the price needs to hold above this level and the most important above 1.2580$ to guarantee not turning to decline.
• The EMA50 continues to support the suggested bullish wave, which its targets begin by breaching 1.2700$ to open the way to head towards 1.2800$.

Expected Trading Range

Between 1.2580$ support and 1.2740$ resistance.

EURUSD Price Analysis

Expected Scenario

• The EURUSD price shows additional negative trades to break the bullish channel’s support line and confirm the continuation of the bearish trend domination in the upcoming sessions, opening the way to visit 1.0795$ as a next main target, reminding you that breaking it will push the price towards 1.0715$ as a next station.
• Therefore, the bearish trend will remain valid and active unless the price rallied to breach 1.0875$ and hold with a daily close above it.

Expected Trading Range

Between 1.0780$ support and 1.0935$ resistance.