The GBPCHF regains the bullish bias – Forecast today – 3-7-2024
GBPCHF Price Analysis
Expected Scenario
The GBPCHF price succeeded in overcoming the bearish bias by rallying above the 1.1330 resistance recently, forming a strong positive rally to reach 1.1470.
Note that the consolidation of the MA55 near the breached resistance will confirm solid support at 1.1330, reinforcing the chances of resuming the bullish attack. Expectations are to target 1.1515 soon, with potential further gains towards 1.1620 upon surpassing this level.
Expected Trading Range
Between 1.1370 and 1.1515.
Trend Forecast: Bullish
Natural gas price under the negative pressure – Forecast today – 3-7-2024
Natural Gas Price Analysis
Expected Scenario
Natural gas price is still affected by negative pressures, represented by the $2.580 level forming an additional barrier. Stochastic continues to fluctuate within the oversold areas, increasing the chances of suffering additional losses. It is advisable to wait for a test of the extended support at $2.370 and monitor price behavior to detect the next expected trend.
Rallying above $2.580 and holding above it will bring the bullish track back, with potential targets including $2.780 followed by attempts to breach the $2.950 obstacle.
Expected Trading Range
Between $2.550 and $2.370.
Trend Forecast: Bearish
The GBPJPY resumes the rise – Forecast today – 3-7-2024
GBPJPY Price Analysis
Expected Scenario
The GBPJPY pair continued to form strong bullish trades by surpassing the 204.73 barrier, achieving the first additional target at 205.22 this morning.
Now, forming continuous support at 203.70 and with positive momentum coming from major indicators, there are increased chances of achieving additional gains that might extend towards 205.72 and 206.45 soon, which could act as additional barriers against bullish attempts.
Expected Trading Range
Between 204.25 and 206.45.
Trend Forecast: Bullish
Platinum price repeats the sideways fluctuation – Forecast today – 3-7-2024
Platinum Price Analysis
Expected Scenario
Platinum price is still confined between $1015.00 resistance and $983.00 support, confirming its surrender to the domination of the sideways bias temporarily.
The contradiction between the major indicators allows us to monitor the price behavior until surpassing one of the major levels to confirm the next expected trend. Breaching the resistance will open the way to record big gains that might extend towards $1043.00 and $1075.00, while breaking the support and holding below it will activate the correctional bearish track to target $965.00 and $948.00 initially.
Expected Trading Range
Between $983.00 support and $1015.00 resistance.
Trend Forecast: Sideways