The GBPUSD price begins negatively - Forecast today - 28-03-2024
GBPUSD Price Analysis
Bearish Scenario
- The GBPUSD price opens today’s trading with calm decline.
- Hinting heading to resume the correctional bearish trend for the upcoming period.
- Gradually approaches our first waited target at 1.2580$.
- Breaking this level will push the price towards 1.2480$ as a next target.
- The bearish trend depends on the completion of the double top pattern.
- Supported by the negative pressure formed by the EMA50.
- Continuation of the bearish wave conditions by the price stability below 1.2700$.
Trading Range
The expected trading range for today is between 1.2530$ support and 1.2690$ resistance.
Trend forecast: Bearish
The EURUSD price needs strong negative motive – Forecast today - 28-03-2024
EURUSD Price Analysis
Bearish Scenario
- The EURUSD price fluctuates with slight negativity.
- Attempts to move away from the broken neckline of the double top pattern.
- Falling under negative pressure formed by the EMA50.
- Supports the continuation of the expected bearish trend on the intraday basis.
- Targets begin by testing 1.0765$ level.
- Continue to suggest the bearish trend on the intraday basis.
- Above-mentioned pattern’s targets extend to 1.0645$ after surpassing the first target.
- Breaching 1.0865$ will stop the expected decline and lead the price to turn to rise.
Trading Range
The expected trading range for today is between 1.0730$ support and 1.0870$ resistance.
Trend forecast: bearish
End of day crude oil price forecast update - 27-03-2024
Crude oil price trades positively to approach 82.00$ barrier, and as long as the price is below 82.65$, our bearish overview will remain valid for the upcoming period, depending on the formation of double top pattern that supports the chances of achieving our targets that start at 80.86$ and extend to 78.90$ after breaking the previous level.
End of day gold price forecast update - 27-03-2024
Gold price resumes its positive trading to approach 2200.00$ barrier, reinforcing the expectations of continuing the main bullish trend, supported by the positivity of the major indicators, reminding you that our first main target is located at 2222.86$, while achieving it requires holding above 2166.50$.