Silver Price Analysis

Expected Scenario

• Silver price provides positive trades now after approaching 31.00$ this morning, and as long as the price is below 31.85$, the correctional bearish trend scenario will remain active for today, which its targets begin by breaking 31.00$ to confirm heading towards 30.06$, taking into consideration that the continuation of the rise and breaching 31.85$ will push the price to achieve more gains and test 32.50$ initially.

Expected Trading Range

Between 30.80$ support and 31.70$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price shows some bullish bias to test the first key resistance 2340.10$, waiting to resume the negative trades to break 2319.80$ and activate the head and shoulders’ pattern followed by rallying towards our negative targets that start at 2272.06$ and extend to 2217.10$.
• We remind you that breaching 2340.10$ followed by 2360.00$ levels will stop the correctional bearish trend and push the price to regain the main bullish trend again.

Expected Trading Range

Between 2300.00$ support and 2345.00$ resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price shows positive trades and attempts to surpass 1.2700$ level, affected by the RSI negativity, and as we mentioned this morning, holding below this level keeps the bearish trend scenario active for today, which targets 1.2630$ followed by 1.2580$ levels mainly.
• Moving below the EMA50 supports the chances of continuing the suggested bearish trend, which will remain valid conditioned by the price stability below 1.2700$ - 1.2715$ levels.

Expected Trading Range

Between 1.2600$ support and 1.2750$ resistance.

EURUSD Price Analysis

Expected Scenario

• The EURUSD price trades with clear positivity now to approach testing the initial resistance 1.0825$, which urges caution from the upcoming trading, as continuing the rise and breaching 1.0840$ will cancel the negative formation mentioned this morning and push the price to return to the bullish channel again.
• Therefore, we will keep our bearish overview conditioned by the price stability below 1.0840$, reminding you that our next main target reaches 1.0713$.

Expected Trading Range

Between 1.0710$ support and 1.0850$ resistance.