The GBPUSD resumes the rise - Analysis - 21-11-2023
The GBPUSD pair resumes its positive trading after leaning on 1.2460 level, and the way is open to achieve our waited target at 1.2590, which represents 50% Fibonacci correction level for the decline measured from 1.3142 to 1.2037, which means that breaching it will extend the bullish wave to reach 1.2720 as a next correctional target.
The positive effect of the pattern that appears on the chart supports the continuation of the bullish trend domination and achieving more positive targets on the longer-term basis, reminding you that it is important to hold above 1.2460 and 1.2430 levels to continue the expected rise.
The expected trading range for today is between 1.2480 support and 1.2620 resistance.
The expected trend for today: Bullish
The EURUSD touches the target - 21-11-2023
The EURUSD pair managed to touch our waited target at 1.0960 and attempts to breach it now, to support the expectations of continuing the correctional bullish trend, reminding you that our next target extends to 1.1080 areas on the near-term basis.
The EMA50 continues to support the suggested bullish wave, waiting to get positive momentum that assist to push the price to confirm breaching the current areas and head towards the expected target, taking into consideration that failing to surpass 1.0960 might push the price to rebound bearishly and head to test 1.0860 areas before any new positive attempt.
The expected trading range for today is between 1.0900 support and 1.1050 resistance.
The expected trend for today: Bullish
Evening update for Crude oil price 20-11-2023
Crude oil price succeeded to achieve our waited target at 77.86 and attempts to breach it, to support the chances of continuing the bullish wave in the upcoming period, paving the way to achieve additional gains that reach 79.60, taking into consideration that failing to breach the current resistance might push the price to test 76.35 areas before any new attempt to rise.
Evening update for Gold 20-11-2023
Gold price faced negative pressure to break 1975.00 level and approaches the most important support at 1962.35, and as long as the price is above this level, the bullish trend scenario will remain active for the upcoming period, reminding you that our waited targets begin at 2000.00 followed by 2009.30.