Economies.com
2025-01-23 04:16AM UTC
Crude oil price bounced downwards clearly after testing the first key resistance at 77.53$ yesterday, to gradually approach our first waited target at 75.53$, reminding you that surpassing this level will push the price to achieve additional bearish correction that its next target reaches 73.90$.
Moving below the EMA50 supports the continuation of the expected bearish wave, which will remain valid unless the price rallied to breach 77.53$ followed by 78.25$ levels and hold above them.
The expected trading range for today is between 74.60$ support and 77.60$ resistance
Trend forecast: Bearish
Silver price begins negatively – Forecast today – 23-01-2025
Economies.com
2025-01-23 04:16AM UTC
Silver price shows bearish bias to press on 30.63$ level and attempts to confirm breaking it, to head towards potential visit to the intraday bullish channel’s support line around 30.05$ initially, and it might extend to 29.63$ in case breaking the previous level.
Therefore, we expect to witness negative trades in the upcoming sessions, noting that the consolidation of 30.63$ level will stop the expected decline and lead the price to recover again, to head towards visiting 31.63$ areas mainly.
The expected trading range for today is between 30.00$ support and 31.00$ resistance.
Trend forecast: Bearish
Gold price loses momentum – Forecast today – 23-01-2025
Economies.com
2025-01-23 04:16AM UTC
Gold price’s rise stopped near 2765.00$ level, to start bouncing bearishly after losing the positive momentum, as it returns to the bullish channel and trades below its resistance line, to hint starting bearish wave that targets visiting the mentioned channel’s support line, located now at 2707.00$.
Therefore, the bearish trend will be expected for today, and breaking 2744.00$ will ease the mission of achieving the suggested target, while breaching 2755.00$ will stop the suggested bearish wave and lead the price to resume the main bullish trend again.
The expected trading range for today is between 2730.00$ support and 2765.00$ resistance.
Trend forecast: Bearish
The USDCAD price recovers – Forecast today – 23-01-2025
Economies.com
2025-01-23 04:16AM UTC
The USDCAD price traded with clear positivity yesterday to return to the bullish channel that appears on the chart, which leads the price to recover again and head to achieve gains that start by testing 1.4467$ and extend to 1.4600$ after breaching the previous level.
Therefore, we expect to witness positive trades in the upcoming sessions, noting that failing to consolidate above 1.4380$ will push the price to decline again and start bearish correction that targets 1.4220$ initially.
The expected trading range for today is between 1.4330$ support and 1.4465$ resistance
Trend forecast: Bullish