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The GBPUSD tests the resistance - Analysis - 05-10-2021
The GBPUSD pair continued to rise to test 1.3600 level, noticing that the price keeps its stability below this level, which represents the point that 38.2% Fibonacci correction level meets the bearish channel’s resistance, accompanied by witnessing negative signals through stochastic.
Therefore, we expect to witness negative trades in the upcoming sessions, and the targets begin at 1.3530 and extend to 1.3415, taking into consideration that breaching 1.3600 – 1.3625 levels will lead the price to achieve additional gains that reach 1.3720.
The expected trading range for today is between 1.3500 support and 1.3660 resistance.
The expected trend for today: Bearish
The EURUSD achieves some bearish correction – Analysis - 05-10-2021
The EURUSD pair provided positive trades yesterday but it stopped at 23.6% Fibonacci correction level for the decline measured from 1.1909 to 1.1563, noticing that the price bounced bearishly from there, as the EMA50 meets this level to add more strength to it, while stochastic shows clear negative signals now.
MoreEvening update for Crude oil 04-10-2021
Crude oil price rallied upwards sharply to breach 76.64 and approaches the extended target at 79.00, reinforcing the chances of continuing the rise on the intraday and short term basis, which its next target located at 80.00$, noting that the the continuation of the bullish wave requires holding above 76.64.
MoreEvening update analysis for Gold 04-10-2021
Gold price rallied upwards strongly to attack 1770.00 and attempts to breach it, which urges caution from the upcoming trading, as confirming the breach will stop the recently suggested negative scenario and lead the price to achieve additional gains that reac 1797.00.
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