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Silver under the negative pressure – Analysis - 16-03-2018
Silver price tests the bullish trend line that appears on the chart, located now at 16.35, and trades are stuck between this support and 16.56 resistance, which makes us prefer staying aside until the price confirms surpassing one of these levels to determine its next destination clearly, noting that the contradiction between the EMA50 negativity and stochastic positivity provides another reason for neutrality.
Note that breaching 16.56 will motivate the price to resume the bullish trend that its next target located at 17.43, while breaking 16.35 will push the price to decline towards 15.49 before determining the next destination on the short term basis.
Expected trading range for today is between 16.20 support and 16.65 resistance.
Expected trend for today: Depends on the above mentioned levels
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Gold pushes on the support line – Analysis - 16-03-2018
Gold price provided clear negative trades yesterday to settle around 1316.48 level, as it attempted to break this level, supported by the negative pressure formed by the EMA50, but we notice that stochastic shows positive signals that might protect the price from suffering more losses.
MoreUSDCAD approaches the target – Analysis - 16-03-2018
The USDCAD pair rallied upwards strongly yesterday to approach our main waited target at 1.3128, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, which is organized inside the bullish channel that appears on the chart, supported by the EMA50 that carries the price from below.
MoreUSDJPY resumes the decline – Analysis - 16-03-2018
The USDJPY pair begins today’s trading with new bearish bias after testing the EMA50 yesterday, noticing that stochastic provides negative overlapping signal on the four hours’ time frame, which forms negative motive that we expect to assist to push the price to break 105.54 level and open the way to head towards our extended target that reaches 104.62.
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