Current level – 1.1820

The forecasts for today’s trading session are for the currency pair to test the resistance at 1.1847 due to the fact that, during the early hours of today’s trading session, the EUR/USD bounced back from the support level at 1.1800. In case the mentioned level of resistance is breached, the pair will most likely head towards the next support zone at 1.1885. The consolidation phase that began at the start of the week is keeping the pair in the range between 1.1800 – 1.1847 and, if the bears enter the market and manage to violate the support at 1.1800, then their next target will be located at the support zone at 1.1774.


Current level –  109.62

The pair successfully breached the support at 109.67, but the sell-offs were limited to the critical level of 109.50. Another attack and a breach of the mentioned support would pave the way for the currency pair towards the support at 109.23. However, if the bulls re-enter the market and manage to keep the Ninja above 109.67, then a test of the resistance at 110.20 is highly probable.


Current level – 1.3845

The sterling continues to gain positions against the U.S. dollar after the pair initially bounced back from the support at 1.3785. The sentiment remains positive – for an appreciation of the pound against the greenback and a test of the resistance at 1.3889. If the breach is successful, this would allow the buyers to solidify the uptrend towards the psychological level at 1.4000.

Gold price under the negative pressure

Gold price ended yesterday below 1797.00 level, to hint heading to decline again, supported by moving below the EMA50, but we notice that stochastic shows positive signals that might assist to push the price to recover.

Therefore, this contradiction between the technical factors makes us prefer staying neutral until we get clearer signal for the next trend, noting that breaking 1786.00 will press on the price to achieve more decline and visit 1770.00 level initially, while breaching 1797.00 represents the key to reactivate the positive scenario that its first target located at 1825.15.

The expected trading range for today is between 1770.00 support and 1810.00 resistance.

The expected trend for today: Neutral

Source: Technical analysis

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