The euro faced brief bear pressure against the dollar yesterday and tested the 1.2145 level, but it rebounded quickly to close near the 1.2200 marks. Notably, a new bullish bias in Eur/USD after the start of trading today confirms that the main bullish trend will continue with the next major target at the 1.2300 level.
So we are waiting for euro/DOLLAR to move higher in the coming days. From the 4-hour chart, the EMA 50 indicator supports bullish expectations. It should be noted that euro/dollar staying above 1.2145 is important to hitting these bullish targets.
Euro/dollar is expected to trade between support at 1.2145 and resistance at 1.2300 today.
Today’s expected trend for euro/dollar is bullish.
GBP/USD successfully hit our first waiting target of 1.3540. GBP/USD took on a new bullish bias after the start of trading today and broke above levels, which supports our continued bullish view both within the day and in the short term, with the first bullish target at 1.3600 and the higher target at 1.3715.
From the 4-hour chart, the EMA 50 index continues to support the continued bullish trend of GBP/USD. GBP/USD needs to stay above 1.3335 to continue bullish expectations.
Sterling/DOLLAR is expected to trade between support at 1.3450 and resistance at 1.3630.
Today’s expected trend for sterling/dollar is bullish.
Dollar/yen briefly rose yesterday and tries to break through 103.65, but we have noticed that from the point of 4-hour chart, EMA 50 index form strong resistance, the dollar/yen, and trading again below the 103.65 level, it also makes our bearish view is still valid for a period of time in the future, the next major goal aiming at 103.00, then the 102.50 level.
In general, unless USD/JPY breaks through 103.65 and stays above this level, we will continue to forecast a bullish gold trend.
Dollar/Yen trading is expected to be between support at 102.50 and resistance at 103.80.
Today’s expected trend against the dollar/yen is bearish.
Gold rebounded strongly yesterday after re-testing the $1850.00 / oz level and is closing in on our first waiting bullish target of $1875.00 / oz. Gold, as shown in the chart, moves in the bullish channel, supporting the possibility of a break above $1,875.00 an ounce, which could extend the rally to $1,917.00, with a higher target at $1,928.60.
So as long as gold stays above $1850.00 an ounce and, most importantly, above $1833.00 an ounce, we will continue to expect gold to be bullish for some time to come.
Gold is expected to trade between support at $1850.00 and resistance at $1890.00.
Today’s expected trend for gold prices is bullish.