Silver price surpasses the resistance - Analysis - 06-11-2023
Silver price rallied upwards clearly in the previous sessions to breach 23.00 and settles above it, to head towards achieving expected gains in the upcoming sessions, on its way to visit 23.70 mainly.
Moving above the EMA50 supports the chances of achieving the expected rise, noting that breaking 23.00 and holding below it again will reactivate the bearish trend scenario that its next main target located at 22.25.
The expected trading range for today is between 22.85 support and 23.70 resistance.
The expected trend for today: Bullish
Gold price attempts positively – Analysis - 06-11-2023
Gold price begins today with bearish bias to head towards resuming the expected bearish trend on the intraday basis, which targets testing 1962.35 mainly.
Stochastic provides negative signals that support the continuation of the bearish trend, and breaking 1983.55 will ease the mission of achieving the suggested target, while breaching 2000.00 will stop the negative scenario and push the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 1965.00 support and 2000.00 resistance.
The expected trend for today: Bearish
The USDCAD hits the extended target – Analysis - 06-11-2023
The USDCAD pair succeeded to achieve our second waited target at 1.3680 and broke it to settle below it, opening the way to achieve more negative targets, waiting to test 1.3575 as a next station.
Therefore, the bearish trend scenario will remain active, supported by moving below the EMA50, noting that breaching 1.3680 will stop the current negative pressure and push the price to attempt to build bullish wave on the intraday basis.
The expected trading range for today is between 1.3570 support and 1.3700 resistance.
The expected trend for today: Bearish
The USDJPY resumes the decline – Analysis - 06-11-2023
The USDJPY pair resumed its negative trading to surpass 150.00 barrier and settles below it, reinforcing the expectations of continuing the bearish trend, and the way is open to head towards our main expected target at 148.25.
The EMA50 forms negative pressure against the price to support the expectations to decline, noting that breaching 150.15 will stop the expected decline and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 148.80 support and 150.15 resistance
The expected trend for today: Bearish