The pair trades with slight bearish bias since morning affected by Stochastic negativity, keeping the morning suggested bearish trend scenario valid and active until now, supported by the EMA50.

We remind you that holding below 1.2970 is important for the continuation of these expectations.

Expected trading range for today is between: 1.2725 support and 1.2970 resistance.

Expected trend for today: Bearish

The pair is affected in yesterday’s trading with short term positive bias to achieve 132.30 which represents an obstacle against reaching 133.10 as a top level for the bullish channel to conflict with Stochastic which provided negative bias by falling from 80 level which supports the continuation of the sideways trading until this moment.

In general, we must remind you that the pair remains affected by the bullish bias conditioned by the stability of the initial support level 130.60 which is supported by the moving average 55 as appears in the above chart, therefore we keep expecting the positivity in the near period to achieve 133.10 if the previous support remains intact.

Expected trading range is between 133.10 and 131.65

Expected trend: bullish 

The pair’s trading in its tight range between the initial support level 155.75 and the resistance 156.60 which represents an obstacle against achieving the top level for the bullish channel at 157.45, in case breaking below the initial support will be the initial target towards 154.1 followed by 152.75

Thus we recommend monitoring the trading until  breaching one of the mentioned levels to reach the previously suggested targets.

Expected trading range is between 157.40 and 154.10

Expected trend: neutral until breaching the mentioned levels in the report

Platinum negative trading was ended by visiting 1428.00 leading the price to return to be trading towards the moving average 55, to witness breaching above 1660.00 again affected by positive bias that is supported by Stochastic, which succeeded to breach above 80 level as appears in the above chart.

All the indicators supports the intraday positivity but we remind you that there is a strong obstacle around 1520.00 which confirms the continuation of the bearish bias domination generally, thus the bearish expectation remains valid if the previous resistance remained intact, and the price might move in sideway bias in the near period.

Expected trading range is between 1505.00 and 1460.00

Expected trend: bearish