The GBPUSD resumes the rise - Analysis - 14-03-2023
The GBPUSD pair resumed its positive trades to test 1.2200 barrier, reinforcing the expectations of continuing the bullish trend, waiting for more rise to visit 1.2260 level that represents our next target.
The EMA50 supports the price from below, and surpassing the targeted level will push the price to 1.2440 as a next main station, while stochastic negativity might cause some temporary sideways fluctuation before rising again.
Holding above 1.2070 represents the first condition to continue the bullish wave, as breaking it represents negative factor that will press on the price to visit 1.1940 initially.
The expected trading range for today is between 1.2070 support and 1.2250 resistance.
The expected trend for today: Bullish
The EURUSD faces solid resistance - 14-03-2023
The EURUSD pair found solid resistance at 1.0745 and couldn’t manage to breach it, to start providing negative trades by today’s open, noticing that stochastic shows negative signals that press on the price to decline.
Therefore, we expect to witness bearish bias in the upcoming sessions, and the targets begin at 1.0620 and extend to 1.0515 after surpassing the previous level, noting that breaking 1.0690 will ease the mission of achieving the waited targets.
Note that breaching 1.0745 will stop the suggested negative scenario and lead the price to achieve new gains that reach 1.0800 followed by 1.0925.
The expected trading range for today is between 1.0610 support and 1.0770 resistance.
The expected trend for today: Bearish
Evening update for Crude oil price 13-03-2023
Crude oil price declined sharply and quickly to break 75.64 level and reach 72.00$ per barrel barrier, affected by the Silicon Valley bank’s collapse, trading near 75.64 level again now, settling below it, making the bearish bias suggested in the upcoming sessions, but we recommend to stay aside until the price settles, through monitoring the mentioned level, noting that holding below it will push the price to decline towards 70.30 areas on the near term basis, while stepping above it might lead the price to build new bullish wave on the intraday basis.
Evening update for Silver 13-03-2023
Silver price succeeded to surpass our first target at 21.40 to approach the second one at 22.13, and the way seems open to continue the rise and achieve additional gains that will reach 23.05 after surpassing the previous level, to keep the bullish trend suggested unless breaking 21.40 followed by 20.64 levels and holding below them.