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The GBPUSD is recovering - Analysis - 03-05-2023
The GBPUSD pair didn’t settle for long time below the bullish channel’s support line, to trade positively and attempts to return to this channel again, to head towards regaining the main bullish trend and achieve gains that start by testing the recently recorded high at 1.2580.
The EMA50 supports the price and reinforce the chances of continuing the rise in the upcoming sessions, besides the positive signals provided by stochastic, noting that breaking 1.2475 will put the price under the correctional pressure and target testing 1.2400 level initially.
The expected trading range for today is between 1.2420 support and 1.2580 resistance.
The expected trend for today: Bullish
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The EURUSD is recovering - 03-05-2023
The EURUSD pair continued to rise to breach 1.1000 level and settles above it, reinforcing the chances of continuing the bullish trend in the upcoming sessions, to head towards testing 1.1075 level as a first positive station, noting that breaching this level will push the price to achieve additional gains that reach 1.1150.
MoreEvening update for Crude oil price 02-05-2023
Crude oil prices declined strongly to surpass our waited target at 73.85 and approaches 61.8% Fibonacci correction level at 71.55, and the way seems open to continue the decline and surpass this level and suffer more losses in the upcoming period, noting that the next negative target reaches 68.75, while the expected decline will remain valid unless breaching 73.85 and holding above it.
MoreEvening update for Gold 02-05-2023
Gold prices rallied upwards strongly to breach 2005.35 level and head towards regaining the main bullish trend again, to stop the bearish correction that dominated the recent trades and achieve gains that we expect to reach 2048.70 areas on the near term basis, making the bullish bias suggested in the upcoming sessions unless breaking 1992.20 followed by 1985.00 levels and holding below them.
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