Midday update for EURUSD 03-01-2017
The EURUSD pair trades with clear negativity since morning to move away from the bearish channel's resistance that appears on the above chart, which supports the continuation of our bearish overview efficiently in the upcoming sessions, and the way is open to target 1.0326 level initially, which breaking it represents the key to head towards 1.0110 as a next main station.
In general, the expected decline will remain valid unless breaching 1.0519 level and holding above it.
Expected trading range for today is between 1.0350 support and 1.0550 resistance.
Expected trend for today: Bearish
GBPJPY keeps the negative attempts – Analysis – 3-1-2017
The GBPJPY touched the minor bearish channel’s resistance at 144.60, to begin bouncing lower in attempt to confirm the bearish correctional overview, therefore, we will keep waiting for forming new negative attack that targets 142.80 level reaching to the support at 141.70.
Stochastic surpass to the overbought level confirms surpassing the positive pressures, which provides the required negative momentum to form the negative trading as we mentioned previously.
Expected trading range for today is between 144.60 and 142.80
Expected trend for today: bearish.
Copper looks for an outlet – Analysis – 3-1-2017
Copper price repeated forming sideways trading, in spite of providing some positive momentum by the main indicators to keep its stability below the resistance at 2.5700, which increases the possibility of forming negative attack in the upcoming period by reaching the support at 2.4200, to begin recording some negative targets by reaching 2.3000 and 2.2200.
While the price rally to breach the current resistance will open the way towards recording some positive targets by reaching 2.6600 and 2.7300.
Expected trading range for today is between 2.4200 and 2.5700
Expected trend for today: Sideways
Platinum keeps the negative stability – Analysis – 3-1-2017
Platinum price kept its stability within the negative range and exactly below the bearish channel’s resistance at 915.00, therefore, we will keep preferring the negative domination, to wait until gathering the negative momentum, which opens the way towards achieving the suggested targets at 870.00 reaching to the support at 830.00.
By the above image, we notice stochastic attempt to form new bearish wave, which agrees with the moving average 55, which increases the possibility for gathering the required momentum in the near and medium period.
Expected trading range for today is between 915.00 and 870.00
Expected trend for today: Bearish.