Midday update for the GBPUSD 23-10-2020
The GBPUSD pair provided positive trades to test 1.3100 barrier and returns to trade below it, which keeps the bearish trend scenario active for today, which targets 1.3000 level mainly, noting that breaching 1.3175 will stop the expected decline and leads the price to resume the main bullish trend again.
The expected trading range for today is between 1.2970 support and 1.3150 resistance.
The expected trend for today: Bearish temporarily
Midday update for the EURUSD 23-10-2020
The EURUSD pair bounced upwards clearly after leaning on the EMA50, to head towards potential test to the key resistance 1.1880, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend scenario active for today, waiting to break 1.1790 level to open the way to achieve our main expected target at 1.1720.
The expected trading range for today is between 1.1720 support and 1.1880 resistance.
The expected trend for today: Bearish temporarily
Coffee contracts price tests the support – Analysis – 23-10-2020
Coffee contracts price formed sharp bearish correction affected by the negativity of the moving average 55 by forming barrier near 111.20, besides stochastic reach to the oversold areas, to notice reaching 102.80 to test the key support that appears on the chart.
The upcoming scenario depends on the strength of the mentioned support, to expect renewing the bullish attempts and move towards 109.40 followed by repeating the pressure on the moving average 55 in order to find an exit to resume the positivity.
The expected trading range for today is between 102.50 and 109.00
The expected trend for today: Bullish
IBEX index holds above the support – Analysis – 23-10-2020
IBEX index ended its bearish rebound by providing frequent positive closings above 6725.00 support line, to reinforce the bullish overview that might target 6700.00 followed by reaching the initial barrier 7125.00.
Stochastic attempt to rally above 50 level reinforces our bullish overview and increases the chances of gathering the requires positive momentum to achieve the suggested targets.
The expected trading range for today is between 6750.00 and 7000.00
The expected trend for today: Bullish