The pair attempted to breach above the initial resistance level at 128.60 recording 129.90 affected by the European data release, providing a price close below the resistance as appears in the above chart.

We notice the sideways since the morning to limit the price between the resistance level and the moving average 55 at 127.90 to prefer the sideways bias until breaching above one of the previous levels.

Carefully note that breaching above the resistance level which supports renewing the positivity of the price to achieve 129.60 followed by 131.00, while breaking below the moving average will provide negative bias reaching towards the main support level around 126.60

Expected trading range is between 129.50 and 126.60

Expected trend for today: neutral, until breaching one of the previously mentioned levels.

The pair ended its intraday bearish bias by facing the moving average 55 which is supported by 23.6% Fibonacci at 150.60, to support the price attempt to renew the positivity affected by the European data, recording 153.20 in yesterday’s trading.

In general, the pair remains effected by the positive bias waiting for achieving 155.20 as a main target for the bullish channel as appears in the above image, while attempting to break below 150.60 will support the price decline towards 148.70 which represents 38.2%Fibonacci level.

Expected trading range is between 153.80 and 150.60

Expected trend for today: bullish if 150.60 remains intact.

Platinum bounced after recording the first target at 1460.00 achieving 1505.00 keeping the trading stable below 50% Fibonacci at 1520.00 which acts as solid resistance against the price rise.

The stability of the resistance level 1520.00 supports the steadiness of the negative trading in the near and medium period to achieve 1460.00 again followed by 1400.00.

By the above chart we notice that Stochastic begins forming bullish wave which supports the price fluctuation in tight range if the resistance level remains intact.

Carefully note that the price attempts to breach above the previous resistance pushes the price to achieve 1570.00 which represents the moving average level for the weekly chart.

Expected trading range is between 1520.00 and 1460.00

Expected trend for today: bearish 

Copper failed to break below the main support level at 3.0400 yesterday to provide a bullish trend to settle below the moving average 55 around 3.2000 as shown in the enclosed chart.

Accordingly we expect that copper will trade in tight range in the near period until surpassing one of the previous levels conditioned by the stability of the trading generally in its negative bias, and that if the main resistance level settled at 3.3000 which represents the top level of the bearish channel.

We notice that Stochastic rises to hit 80 level which supports its contradiction with the main bias, supporting the sideways trading range for today.

Expected trading range is between 3.0400 and 3.2200

Expected trend for today: sideways