Copper trading continued below 3.3700 which forms the neckline of the double top pattern which is supported by the EMA50, keeping our expectation to reach bearish levels around 3.1700 – 3.1250 reaching to 3.000.

Carefully note that in spite of the negative bias domination on the trading, the price effects currently now with sideways bias due to the contradiction between the general bias and Stochastic which provides bullish signals to get new negative momentum to achieve the suggested targets.

Expected trading range is between 3.1700 and 3.3250

Expected trend: bearish.

The NZD/USD broke the long-term bullish channel's key support, making us expect the downtrend, which dominated for the past two weeks, is not sufficient to complete overall bearishness. The pair is steady below 0.8210, or 38.2% Fibonacci correction, allowing the downtrend to extend to 0.7920 at 61.8% correction, passing by 0.8065 at 50% correction. Note that breaking the latter is important to stimulate the intraday downtrend's continuation.

- Trading range expected this week is between the key support at 0.7920 and the key resistance 0.8355.

- Short-term trend is bullish targeting 0.8845 if 0.8130 remains intact on daily basis.

The AUD/USD plunged nonstop, breaking 161.8% Fibonacci at 0.9825. Settling below this level could extend the downtrend to 200% Fibonacci and perhaps to 224% later on at 0.9645 and 0.9535 respectively. A position below 0.9825 supports negativity but breaching 0.9900 could put off the expected downtrend.

- Trading range expected this week is between the key support at 0.9535 and the key resistance 0.9935.

- Short-term trend is donwside targeting 0.9400 if 1.0710 remains intact.

With the opening of this week, silver has achieved quick drop towards 20.35 territories after achieving consecutive bearish movements during the previous period. SMA 20 and SMA 50 continue to cover prices as well reinforcing resuming the major short-term bearishness. RSI 14 should cause a huge fluctuation as it has dropped below the value of 30.00 but MACD becomes negative again following the short-lived correction ended at 24.80. Carefully note that, a break below 20.35 boundaries will weaken the psychological level of 20.00.

** Short term ( Less than three months)

** Chart is based on GMT+2 timing

Notes: 

*if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.