The GBPUSD price achieves clear gains - Forecast today - 04-04-2024
GBPUSD Price Analysis
- The GBPUSD price settles around 1.2650$ level after the strong rise that it witnessed in the previous sessions.
- After confirming breaching 1.2580$, the bullish bias will be suggested in the upcoming sessions.
- Waiting to test 1.2700$ as a next station, noting that breaching this level will lead the price to achieve additional gains that reach 1.2800$.
- Therefore, we expect to witness more rise on the intraday and short-term basis.
- Breaking 1.2580$ will stop the positive scenario and push the price to return to the correctional bearish track again.
The expected trading range for today is between 1.2570$ support and 1.2740$ resistance.
Trend forecast: Bullish
The EURUSD price is recovering – Forecast today - 04-04-2024
EURUSD Price Analysis
- The EURUSD price’s bullish rally stopped at the broken neckline of the double top pattern that appears on the chart.
- Chances of continuing the negative effect of this pattern are valid, especially with stochastic showing clear overbought signals.
- We prefer to stay aside until we get clearer signal for the next trend, through:
- Breaching 1.0860$ resistance
- Breaking 1.0765$ support
- Continuing the rise and breaching the mentioned resistance will:
- Lead the price to cancel the mentioned negative pattern
- Head to visit 1.0960$ as a next positive target
- Breaking the support will:
- Push the price to decline again
- Target 1.0645$ mainly
The expected trading range for today is between 1.0750$ support and 1.0920$ resistance.
Trend forecast: Neutral
End of day silver price forecast update - 03-04-2024
Silver price rallied upwards strongly to succeed achieving our extended target at 26.95$, showing more rise to attack this level and pave the way to achieve more expected gains in the upcoming period, noting that the next target reaches 28.00$, while the price needs to hold above 26.65$ as a first condition to the continuation of the expected rise.
End of day gold price forecast update - 03-04-2024
Gold price resumes its positive trading to reach our first extended target at 2300.00$, and we suggest the continuation of the bullish bias to visit 2320.00$ as a next positive station, to keep the bullish trend valid and active for the upcoming period conditioned by the price stability above 2260.00$.