Forecast update for gold -01-05-2025
Gold price continued the decline in its last intraday trading, amid the dominance of a bearish correctional wave on a short-term basis, with the emergence of the negative signals on the (RSI), despite reaching oversold levels, besides the negative pressure that came from its trading below EMA50.
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Forecast update for Ethereum-01-05-2025
Ethereum price (ETHUSD) rose in its last intraday trading, settled above the resistance at $1.800, to move in its way to confirm breaching this stubborn resistance, and we are still waiting for a good close above it, while the continuation of the positive support due to its trading above EMA50, with the emergence of the positive signals on the (RSI).
Therefore, our expectations suggest (ETHUSD) price rise in their upcoming trading on the intraday levels, conditioned by its stability above $1,800, to target the next main resistance at $1,900.
The expected trading range for today is between $1,750 support and $1,865 resistance.
Today’s forecast: Bullish
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Forecast update for EURUSD -01-05-2025
(EURUSD) rose in its last intraday trading, attempting to recover some of its losses, and offloading some of its oversold conditions on the (RSI), with the beginning of the positive signals appearance. Affected by the head and shoulders pattern and breaking the neckline of this formation, reinforcing the scenario of extending the bearish correctional wave on the short-term basis.
Therefore, our expectations suggest (EURUSD) price decline in their upcoming intraday trading, targeting the support level at 1.1260, this scenario remains valid if the resistance settled at 1.1390.
The expected trading range for today is between 1.1260 support and 1.1360 resistance.
Today’s forecast: Bearish
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The EURCAD begins to decline– Forecast today – 1-5-2025
The EURCAD price confirmed its surrender to the bearish bias domination by providing several negative closes below the resistance at 1.5865, to notice its interaction with stochastic negativity by reaching 1.5600.
Resuming the negative pressure on the extra support at 1.5515 is expected, if this break happened, so the trading will extend towards the main stations near 1.5425 and 1.5350.
The expected trading range for today is between 1.5515 and 1.5660
Trend forecast: Bearish
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