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GBPUSD completes negative pattern – Analysis - 12-12-2017
The GBPUSD pair trades with clear negativity since yesterday, noticing that the price completed forming double top pattern that its signs appear on the above chart, thus, we believe that the negative targets extend to surpass 1.3295 to reach 1.3196 as a next station.
Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that breaching 1.3419 will stop the expected decline and push the price back to the main bullish track again.
Expected trading range for today is between 1.3250 support and 1.3419 resistance.
Expected trend for today: Bearish
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EURUSD resumes the decline – Analysis - 12-12-2017
The EURUSD pair bounced bearishly after retesting 1.1808 level yesterday, to keep the negative effect of the double top pattern active, waiting to visit 1.1679 level that represents our main target, noting that the EMA50 keeps supporting the expected bearish wave.
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Crude oil price breached 57.55 level clearly and ends the day above it, which stops the recently suggested correctional bearish trend scenario and push the price to regain the main bullish track again, noting that our first target is located at 59.00, while holding above 56.70 represents key condition to continue the expected rise.
MoreEnd of day analysis for Gold 11-12-2017
Gold price resumes its negative trading to end the bearish with bearish bias near the waited target at 1240.85, reminding you that breaking this level will push the price to suffer more losses that reach to 1204.81, as we still expect the continuation of the bearish trend in the upcoming period supported by the negative signal provided now by stochastic, taking into consideration that the continuation of the expected decline depends on holding below 1263.15.
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