Midday update for the GBPUSD 05-12-2023
The GBPUSD pair fluctuates near the EMA50, and it keeps its stability above 1.2590 level, keeping the bullish trend scenario valid for today, supported by stochastics' positivity that appears clearly now, waiting for visiting 1.2720 level as a next main station, reminding you that breaking 1.2590 will turn the trend to the downside to head towards 1.2460 levels initially.
The expected trading range for today is between 1.2570 support and 1.2720 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 05-12-2023
The EURUSD pair resumes its negtaive trading in attempt to move away from 1.0860 level, rienforcing the expectations for the bearish trend expectations in the upcoming sessions, reminding you thta we are waiting for visiting 1.0760 level as a next main target.
holding below 1.0860 level represents a main condition for the continuation of the expected decline, while breaking the targeted level will extend the bearish wave to reach 1.0645 on the near term basis.
The expected trading range for today is between 1.0750 support and 1.0900 resistance.
The expected trend for today: Bearish
Coffee price repeats the positive closings – Analysis – 5-12-2023
Coffee price continued to form bullish waves, to provide many closings above the bullish channel’s support line at 166.20, to notice achieving clear gains by reaching 188.00.
Also, the major indicators agree to provide the positive momentum, which assists to ease resuming the bullish attack, waiting to touch 193.60 followed by reaching 200.50 in the medium term period.
The expected trading range for today is between 177.10 and 190.00
The expected trend for today: Bullish
Natural gas price declines calmly – Analysis – 5-12-2023
Natural gas price surrendered to the domination of the bearish bias by providing frequent closings below the broken support at 2.850, to notice forming new negative crawl and record the first target by reaching 2.660.
We notice stochastic consolidation within the oversold areas, to increase the negative pressures and agree our bearish overview, to keep waiting to attack the historical support at 2.550, which forms the key to detect the next main trend.
The expected trading range for today is between 2.800 and 2.550
The expected trend for today: Bearish