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Silver price surpasses the positive target - Analysis - 04-03-2024
Silver price rallied upwards strongly to breach 23.00 and settle above it, reinforcing the expectations of continuing the domination of the bullish trend on the intraday basis, opening the way to achieve new gains that reach 23.70.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions, it might be preceded by some temporary sideways fluctuation affected by stochastic negativity, waiting to gather positive momentum that assist to achieve the new target, noting that breaking 23.00 will stop the positive scenario and force the price to turn to decline on the intraday basis.
The expected trading range for today is between 22.80 support and 23.50 resistance.
The expected trend for today: Bullish
Gold price achieves strong gains – Analysis - 04-03-2024
Gold price ended last Friday with strong positivity, and approached our second waited target at 2095.00, and we suggest the continuation of the positive trades affected by the previously completed inverted head and shoulders’ pattern, to achieve additional gains that reach the historical high recorded at 2144.60.
MoreThe USDCAD hits the first target – Analysis - 04-03-2024
The USDCAD pair managed to touch our first target at 1.3600 and bounced downwards temporarily to test 1.3550 barrier, noticing that the EMA50 provides the positive support to the price and carries it from below, while stochastic gains the positive momentum clearly and approaches to overlap positively now.
MoreThe USDJPY within sideways track – Analysis - 04-03-2024
The USDJPY pair shows sideways trades as appears on the chart, between 149.70 support and 150.88 resistance, to keep our neutrality valid until now, as we are waiting to surpass one of these levels to detect the next targets clearly.
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