The EURUSD price tests the resistance – Forecast today - 24-04-2024
EURUSD Price Analysis
EURUSD Scenario:
- The EURUSD price keeps rising to test the key resistance 1.0715$ now, which represents the neckline of the double top pattern that its signs appear on the chart, accompanied by stochastic loss for more positive momentum and witnessing clear overbought signals, which forms negative motive that we are waiting to push the price to decline again.
- Therefore, the bearish trend scenario will remain active for the upcoming period, which its targets begin by testing 1.0615$ level, noting that breaching 1.0715$ will stop the expected decline and lead the price to attempt to regain the main bullish trend again, to head towards visiting 1.0795$ initially.
Trading Range:
- The expected trading range for today is between 1.0620$ support and 1.0770$ resistance.
Trend forecast: Bearish
End of day crude oil price forecast update - 23-04-2024
Crude oil price rallies upwards to reach our waited target at 83.90$, and the way seems open to surpass this level and open the way to achieve more gains on the intraday and short-term basis, noting that confirming the breach will push the price to continue rising and test 85.20$ as a next positive station, while holding against the current bullish rally will press on the price to visit 81.50$ areas again.
End of day gold price forecast update - 23-04-2024
Gold price trades with clear positivity to attack 2325.90$ level and attempts to breach it, which urges caution from the upcoming trading, as closing the daily candlestick above this level will stop the correctional bearish scenario and lead the price to regain the main bullish trend again, while consolidating below it will push the price to decline again and visit 2260.60$ mainly.
General Electric price tries to regain footing - Forecast today - 23-04-2024
General Electric Company’s stock price (GE) rose in the intraday levels, amid the dominance of the main upward trend in the medium term, while trading alongside the secondary short-term trend ine, with positive support from the 50-day SMA, while the stock managed to vent off oversold saturation in the RSI.
Therefore we expect more gains for the stock, targeting the pivotal resistance of $158.70, provided the support of $143.84 holds on.
Trend forecast: Bullish