The GBPUSD forecast update 04-06-2024
The GBPUSD price shows some bearish bias to head towards potential test to the key support 1.2700$, affected by the RSI negativity, and as long as the price is above this level, our bullish overview will remain valid for the upcoming period, supported by the EMA50, reminding you that we are waiting to visit 1.2893$ mainly.
The expected trading range for today is between 1.2750$ support and 1.2900$ resistance.
Trend forecast: Bullish
The EURUSD price forecast update - 04-06-2024
The EURUSD price faces negative pressure to reach the bullish channel’s support line that appears on the chart, which urges caution from the upcoming trading, as continuing the decline and breaking this support at 1.0865$ will stop the positive scenario mentioned this morning and push the price to turn to decline.
Until now, the bullish trend scenario still active as long as the mentioned support remains intact, reminding you that our main waited target reaches 1.1015$.
The expected trading range for today is between 1.0850$ support and 1.1000$ resistance.
Trend forecast: Bullish
The NZDCAD price continues to rise – Forecast today – 4-6-2024
NZDCAD Price Analysis
Expected Scenario
- The NZDCAD price succeeded to resume the main bullish attack due to its stability above the additional support 0.8345 recently, to notice recording new gains by reaching 0.8440 and settling above it.
- Note that stochastic approach to the overbought areas will increase the chances of gathering the additional positive momentum to ease the mission of targeting 38.2% Fibonacci correction level at 0.8480, which surpassing it will open the way to resume the bullish attack in the upcoming period by targeting 0.8520 as a first additional station for the bullish track.
Expected Trading Range
Between 0.8400 and 0.8480 support and resistance levels.
Trend Forecast: Bullish
Natural gas price takes advantage of stochastic positivity – Forecast today – 4-6-2024
Natural Gas Price Analysis
Expected Scenario
- Natural gas price reacted to stochastic positivity yesterday to keep its stability above 2.520$ support line, noticing the beginning of forming bullish waves to record some gains by reaching 2.810$.
- Note that it is important to breach 2.890$ resistance line and hold above it to confirm moving to the bullish track again, which increases the chances of achieving big gains in the upcoming trading by moving towards 3.100$ and 3.220$.
Expected Trading Range
Between 2.650$ and 2.890$ support and resistance levels.
Trend Forecast: Bullish