The GBPUSD resumes the decline - Analysis - 18-09-2023
The GBPUSD pair resumed its negative trading to settle below 1.2400 barrier, reinforcing the expectations of continuing the main bearish trend, and the way is open to achieve our main waited target at 1.2310.
The bearish channel continues to organize the suggested bearish wave, which get continuous support by the EMA50, noting that breaching 1.2435 might push the price to test the key resistance 1.2505 before any new negative attempt.
The expected trading range for today is between 1.2300 support and 1.2450 resistance.
The expected trend for today: Bearish
The EURUSD loses momentum - 18-09-2023
The EURUSD pair fluctuates within sideways track now, settling around 1.0660, noticing that stochastic loses its positive momentum and begins to overlap negatively now, waiting to motivate the price to resume the bearish bias and break 1.0635 to confirm extending the bearish wave towards 1.0515 areas.
Therefore, we will continue to suggest the bearish trend for the upcoming period supported by the negative pressure formed by the EMA50, noting that breaching 1.0685 will lead the price to continue the rise and test 1.0725 and might extend to 1.0785 areas before any new attempt to decline.
The expected trading range for today is between 1.0570 support and 1.0725 resistance.
The expected trend for today: Bearish
Update: Gold price achieves strong gains
Gold price rallies upwards strongly to confirm breaching 1917.50 and reach the thresholds of 1929.00 level, and the way seems open to achieve more rise in the upcoming sessions, noting that breaching the last level will extend the bullish wave to reach 1945.20 as a next station, while consolidating against the current rally will push the price to rebound bearishly and head to test 1913.15 areas mainly.
Midday update for Brent oil 15-09-2023
Brent oil price fluctuates around the main bullish channel’s resistance, and as long as the price is above 92.80, the bullish trend scenario will remain valid for the upcoming period, supported by the EMA50 that protects trades inside the bullish channel that appears on the chart, noting that we need to breach 94.75 to confirm opening the way to rally towards our next main target that reaches 96.80.
The expected trading range for today is between 93.30 support and 96.40 resistance.
The expected trend for today: Bullish