Exuberance Asset Management

GBPUSD Breakout Confirmation - Analysis as of September 12, 2023
The GBPUSD currency pair has affirmed its breach above the 1.2505 level. This confirmation signifies the sustained dominance of the bullish trend in the short term, with an expectation of a resumption in the bullish bias, targeting 1.2625 as the next significant milestone.
It's noteworthy that the stochastic indicator has clearly shed its negative momentum, lending support to the anticipation of a price increase in the upcoming trading sessions. However, it's important to remain mindful that a breach below 1.2505 could halt the positive scenario and redirect the price toward the primary bearish trajectory.
For today's trading outlook, it is advisable to consider a trading range, with support at 1.2450 and resistance at 1.2600 as key levels to monitor. These levels will be crucial in assessing potential price movements

The price of crude oil has continued its upward trajectory, reaching levels comparable to the recent high at 88.18. Subsequently, it experienced a bearish pullback, indicating a potential resumption of the anticipated corrective bearish trend within the intraday timeframe. This reversal follows the establishment of a third lower high, as illustrated on the chart. The initial target for this correction is set at 85.75, with the possibility of further descent to 84.25 upon breaking through this level.
As a result, we anticipate a further decline in the upcoming trading sessions. It's important to note that breaching the 88.18 level would negate this negative scenario and propel the price back into the primary bullish trend.
The expected trading range for today is anticipated to range between the support level at 84.50 and the resistance level at 88.50

Gold prices are on the path to recovery, as of September 8, 2023.
The day's trading started with a clear positive trend, breaking free from the intraday bearish pattern that had confined recent transactions. The trajectory appears set to realize anticipated gains in the upcoming trading sessions, with the initial objective being to surpass the 1929.00 level, thereby confirming a move toward the next significant target at 1945.20.
Consequently, a bullish bias is expected for today's trading, supported by the positivity observed in the stochastic indicator. It's worth noting that if the price consolidates around the 1929.00 level while the current bullish momentum is in play, it could halt the positive scenario and potentially lead to a decline.
The projected trading range for today is expected to fall between the support level at 1915.00 and the resistance level at 1945.00.

Gold price approaches the target – Analysis - 07-09-2023
Gold price resumed its negative trading clearly to reach the threshold of the main waited target at 1913.15, and the way seems open to continue the decline and achieve additional negative targets that reach 1890.00 areas after surpassing the previous level.

Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 1929.00 will stop the expected decline and lead the price to attempt to recover on the intraday basis.
The expected trading range for today is between 1900.00 support and 1930.00 resistance.

The expected trend for today: Bearish

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a very Happy Independence Day