Morning Report

The metal inclined to currently reach areas around the top of (C) point of the double harmonic structure at 1763.00, which is a critical harmonic barrier. A breach of this level could trigger an upside move towards 1794.00 and maybe towards the extended target of 127.2% Fibonacci at 1828.00. But, in case the metal failed to settle above this level, it could enter a downside correctional movement. Stochastic is excessively overbought, but ADX is still positive. Therefore, we remain neutral today, observing the pair's behavior around the mentioned level.

The trading range for today is among the key support at 1702.00and key resistance now at 1794.00.

The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.

Previous Report

Weekly Report

Support1754.001750.001742.001735.001724.00
Resistance1763.001768.001772.001780.001794.00
RecommendationBased on the charts and explanations above, we remain neutral awaiting more confirmations