GAFNN.com Blog

EUR USD held above 1.2270 critical level despite the drop was achieved with the end of last week, which keeps the bullish scenario valid.

Gold price moved in positive bias yesterday heading towards the critical resistance level of 1629.00, as the price mainly depends on settling above the EMA50.

EUR USD pair dropped to retest the critical 1.2270 level and remains stable above it, which keeps our bullish scenario valid and active as we mentioned in our previous reports.

Gold price keeps settling above EMA50 and below the critical resistance at 1629.00, while Stochastic is heading north supporting our expectations to witness more gains on the intraday and short term basis.

The tight trading range still dominates the EURUSD pair, as the price remains below EMA50 that we still waiting a clear breach above it.

Gold price remains stable above EMA50, while Stochastic continues to provide us with positive signs on the daily timeframe.

The encounter is still running between the EUR USD pair and the EMA50 that continues to act as a strong resistance level against the intraday trading, supported by Stochastic.

Gold price was able to build base on EMA50 that creates good support at 1599.00 now, and this supports continuing with the bullish trend that mainly targets attacking the critical resistance level of 1629.00

The EURUSD pair is still in challenge with the EMA50, which remains acting as solid resistance against the recently positive intraday attempts.

Friday's trading showed us that the recently break of the EMA50 was fake break, as the price went back above the moving average that located now at 1598.00