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GBPUSD rises calmly – Analysis - 05-03-2018
The GBPUSD pair trades with slight positivity to approach testing the key resistance 1.3854, noting that the EMA50 meets this resistance to add more strength to it, to stay below the previously broken bullish trend line that appears on the chart.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions, noting that the waited targets begin at 1.3700 and extend to 1.3551 after breaking the previous level, taking into consideration that breaching 1.3854 is considered as the first positive key to regain the main bullish trend again.
Expected trading range for today is between 1.3700 support and 1.3860 resistance.
Expected trend for today: Bearish
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EURUSD breaches the resistance – Analysis - 05-03-2018
The EURUSD pair ended last Friday’s trading above 1.2304 level, moving above the EMA50 that provides positive support to the price now, which supports the chances of resuming the main bullish trend after stopping the bearish correction at 38.2% Fibonacci level recently.
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Crude oil price touched 60.14 support line again and rebounds upwards quickly, to start testing 61.40 level, which hints the strength of the mentioned support followed by heading to resume the main bullish trend again.
MoreEnd of day analysis for Gold 02-03-2018
Gold price trades with clear positivity to breach 1321.50 level and attempts to settle above it, which supports the chances of achieving more gains in the upcoming period, waiting to get positive close next week above the mentioned level to confirm extending the bullish wave towards 1335.40 followed by 1350.00 as next main stations, noting that breaking 1316.48 will force the price to decline again.
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