Silver price surpasses the second target - Forecast today - 03-04-2024
Silver price ended yesterday with strong positivity to surpass our second waited target at 26.07$ and settles above it, reinforcing the chances of continuing the bullish trend on the short-term and medium-term basis, noting that our next stations start at 26.60$ and extend to 26.95$.
Therefore, we will continue to suggest the bullish trend for the upcoming period, organized inside the bullish channel that appears on the chart, noting that it is important to hold above 25.50$ as a first condition to the continuation of the expected bullish wave.
The expected trading range for today is between 25.90$ support and 26.70$ resistance.
Trend forecast: Bullish
https://www.economies.com/commodities/silver
Silver price ended yesterday with strong positivity to surpass our second waited target at 26.07$ and settles above it, reinforcing the chances of continuing the bullish trend on the short-term and medium-term basis, noting that our next stations start at 26.60$ and extend to 26.95$.
Therefore, we will continue to suggest the bullish trend for the upcoming period, organized inside the bullish channel that appears on the chart, noting that it is important to hold above 25.50$ as a first condition to the continuation of the expected bullish wave.
The expected trading range for today is between 25.90$ support and 26.70$ resistance.
Trend forecast: Bullish
https://www.economies.com/commodities/silver
Gold price resumes the rise – Forecast today - 03-04-2024
Gold Price Forecast - 03-04-2024
Gold Analysis
- Gold price trades with additional positivity, nearing the awaited extended target at 2300.00$.
- Moving inside a bullish channel supports the chances of further gains on the longer-term basis.
- The next positive station is expected to reach 2320.00$.
- The bullish trend scenario remains valid and active, supported by the EMA50.
- Breaking 2260.00$ may halt the bullish rally, testing 2205.70$ areas before any new positive attempt.
Expected Trading Range for Today
- Between 2270.00$ support and 2305.00$ resistance.
Trend Forecast: Bullish
The USDCAD price still sideways – Forecast today - 03-04-2024
USDCAD Price Update
USDCAD Analysis
- The USDCAD price fluctuates around the EMA50.
- Still confined inside the sideways range represented by 1.3505$ support and 1.3606$ resistance.
- Keeping the sideways scenario valid until now.
- The price needs to breach one of the mentioned levels to detect its next destination clearly.
- Breaking the support will put the price under additional correctional bearish pressure targeting 1.3440$ as the next station.
- While breaching the resistance will push the price to continue the main bullish track with the next target at 1.3700$.
Expected Trading Range for Today
- Between 1.3500$ support and 1.3640$ resistance.
Trend Forecast: Sideways
The USDJPY price needs strong positive motive – Forecast today - 03-04-2024
USDJPY Price Update
USDJPY Analysis
- The USDJPY price trades negatively to approach testing the ascending triangle’s support line.
- The EMA50 meets this support to add more strength to it.
- Waiting to resume the positive trades and breach 151.81 to confirm extending the bullish wave.
- Next target is located at 153.00.
- Note that breaking 151.25 will cancel the positive formation.
- Putting the price under correctional bearish pressure, with the first target at 150.55.
Expected Trading Range for Today
- Between 150.80 support and 152.30 resistance.
Trend Forecast: Bullish