Silver Price Analysis

Expected Scenario

• Silver price tested the broken bullish trend line again and keeps its stability below it, to keep the bearish trend suggested for today, and we still waiting to break 30.06$ to confirm rallying towards our next negative target at 29.30$, reminding you that the continuation of the bearish wave depends on the price stability below 30.45$ and the most important below 31.00$.

Expected Trading Range

Between 29.70$ support and 30.60$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price is testing the key resistance line 2340.10$, and as we mentioned this morning, the price needs to hold below this level to keep the correctional bearish trend valid, reminding you that our next target is located at 2272.06$.
• On the other hand, we should note that breaching 2340.10$ and holding above it will stop the negative scenario and push the price to build bullish wave that its targets begin by testing 2380.00$ areas.

Expected Trading Range

Between 2305.00$ support and 2345.00$ resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price trades positively to attempt to breach 1.2700$ level, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend active for today, which targets 1.2630$ followed by 1.2580$ levels mainly.
• On the other hand, we should note that confirming breaching 1.2700$ will stop the expected decline and push the price to turn to rise.

Expected Trading Range

Between 1.2610$ support and 1.2750$ resistance.

EURUSD Price Analysis

Expected Scenario

• The EURUSD price shows some bullish bias to test the EMA50 that forms minor resistance against the price, waiting to resume the negative trades to achieve our targets that start at 1.0795$ and extend to 1.0714$ after breaking the previous level.
• In general, we will continue to suggest the bearish trend for today unless the price rallied to breach 1.0876$ and hold above it.

Expected Trading Range

Between 1.0730$ support and 1.0870$ resistance.