The GBPUSD forecast update 27-03-2024
GBPUSD Price Analysis
Expected Scenarios
- The GBPUSD price approached 1.2600$ barrier, showing some slight bullish bas now, affected by stochastic positivity.
- Waiting to resume the expected bearish wave for today, which is affected by the previously completed double top pattern.
- The expected targets begin by attacking 1.2580$ level to extend towards 1.2480$ as a next main station.
The continuation of the bearish wave depends on the price stability below 1.2700$ level, which breaching it represents the key to turn to rise and return to the main bullish track again.
Trading Range
The expected trading range for today is between 1.2540$ support and 1.2690$ resistance.
Trend forecast: Bearish
The EURUSD price forecast update - 27-03-2024
EURUSD Price Analysis
Expected Scenarios
- The EURUSD price didn’t show any strong move since morning, and continues to fluctuate around 1.0830$ level.
- No change to the expected bearish trend scenario for today, which depends on the price stability below 1.0860$ level.
- Our targets begin at 1.0765$ and extend to 1.0645$ after surpassing the previous level.
Stochastic current positivity might cause more sideways fluctuation before resuming the expected decline, which gets continuous support by the EMA50.
Trading Range
The expected trading range for today is between 1.0740$ support and 1.0890$ resistance.
Trend forecast: bearish
Copper price surrenders to stochastic negativity – Forecast today – 27-3-2024
Copper Price Analysis
Copper price continued to postpone the bullish rally and provide new sideways fluctuation near 3.9800$ level, surrendering to stochastic negativity by settling within the oversold areas frequently as appears on the chart.
- We expect to continue forming mixed sideways trades with the chance of forming new correctional bearish waves to attempt to test the additional support 3.8500$.
- Succeeding to hold above 4.0200$ will increase the chances of forming new positive waves to manage to renew the pressure on 4.1500$ barrier.
- Surpassing it will ease the mission of recording new positive gains that start at 3.3000$.
The expected trading range for today is between 3.9400$ and 4.0200$.
Trend forecast: Bullish
Platinum price leans above the support – Forecast today – 27-3-2024
Platinum Price Analysis
Platinum price repeated the positive closings above 888.00$ support line, to reinforce the chances of activating the bullish track again, noticing its consolidation near 905.00$ level, noting that stochastic begins to provide the positive momentum to increase the chances of attacking 913.00$ obstacle, assuring the importance of surpassing this level to open the way to reach new positive stations that might extend towards 932.00$ and 950.00$ on the medium-term basis.
The expected trading range for today is between 895.00$ and 922.00$.
Trend forecast: Bullish