Current level – 1.1044

Today’s trading session started with a slight advantage for the investors with positive sentiment. At the time of writing the analysis, they are targeting the nearest support at 1.1019. If they manage to maintain the gained momentum, we could witness an attempt to reach the support at 1.0977. On the other hand, if the bulls manage to impose themselves on the market, we could see an attempt to reach the resistance at 1.1119. High volatility is expected today due to news of the Fed’s decision on a rate hike at 19:00 GMT.


Current level – 141.01

Since the end of last week, we have seen a range movement, with the Ninja in the range between 140.86 and 140.89. If the bulls manage to breach it, we could witness an attempt to reach the resistance at 142.88. On the other hand, a success for the bears would take them to the nearest support at 139.52. Despite the absence of macroeconomic news from Japan, the probability of the range movement being sustained is small due to the news of the expected interest rate hike in the U.S. (19:00 GMT).


Current level – 1.2885

Yesterday’s failure of the bulls to breach the resistance at 1.2902 sent the Sterling to the nearest support at 1.2813. If the bears manage to breach this support, we could witness an attempt to reach the next one at 1.2747. If the bulls manage to turn the balance in their favour, we could witness an attempt to break the support at 1.3003.

Midday update for Gold

Gold price trades positively to approach testing the key resistance 1977.25, noting that consolidating below this level keeps the expected bearish trend scenario active for today, which targets 1945.20 as a next main station.

On the other hand, we should note that the continuation of the rise and breaching 1977.25 will stop the negative scenario and push the price to resume the main bullish trend and head towards 2000.00 initially.

The expected trading range for today is between 1945.00 support and 1977.00 resistance.

The expected trend for today: Bearish

Source: Technical analysis

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