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The GBPUSD resumes the decline – Analysis - 12-03-2020
The GBPUSD pair bounced downwards strongly after testing 1.2965 level yesterday, to test 1.2800 barrier now, reinforcing the expectations of continuing the domination of the correctional bearish trend, which targets testing 1.2736 level as a next main station.
Therefore, the bearish bias will remain suggested in the upcoming sessions unless the price rallied to breach 1.2920 followed by 1.2950 levels and hold above them.
The expected trading range for today is between 1.2736 support and 1.2900 resistance.
The expected trend for today: Bearish
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The EURUSD approaches the target – Analysis - 12-03-2020
The EURUSD pair approached 1.1221 level yesterday, and returns to fluctuate near 1.1325, noticing that stochastic continues to provide the negative signals that support the chances of continuing the correctional bearish pressure in the upcoming sessions, to continue suggesting the bearish trend on the intraday basis, noting that surpassing 1.1221 will extend the bearish wave to reach 1.1136.
MoreEnd of day analysis for Crude oil 11-03-2020
Crude oil price shows sideways trading and continues to fluctuate near 33.20, and as we mentioned today, holding above this level is required to keep the chances valid to resume the expected bullish trend on the intraday basis, which targets 38.04 level mainly, taking into consideration that breaking 33.20 and closing the daily candlestick below it will push the price to achieve negative targets that start by testing 30.00$ per barrel barrier.
MoreEnd of day analysis for Gold 11-03-2020
Gold price faces negative pressure to approach testing the key support 1633.60, noting that the price needs to consolidate above this level to keep the bullish trend valid for the upcoming period, which targets 1689.33 level initially, noting that breaking the mentioned support will press on the price to achieve more decline and visit 1599.10 level initially before any new attempt to rise.
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