Corn Price Update

Corn Analysis

• The corn price bounced downwards strongly yesterday after encountering solid resistance at 449.20$.
• It tested the key support level at 433.50$.
• The price consolidates above this level, keeping the chances valid for continuing the correctional bullish trend.
• Supported by stochastic reaching oversold areas.
• Waiting for positive trades in the upcoming sessions.
• The first target is represented by testing 449.20$ again.
• Breaking 433.50$ will stop the correctional bullish scenario and push the price to decline again.

Expected Trading Range for Today

• Between 430.00$ support and 445.00$ resistance.

Trend Forecast: Bullish

NZDUSD Price Forecast - 03-04-2024

NZDUSD Analysis

• The NZDUSD price trades slightly positive, testing the 0.5960$ level.
• However, the EMA50 continues to exert negative pressure on the price.
• Expected bearish wave for the upcoming period targets testing 0.5915$.
• Holding below 0.6000$ is crucial for the expected decline, while breaching it may lead to recovery attempts.

Expected Trading Range for Today

• Between 0.5900$ support and 0.6000$ resistance.

Trend Forecast: Bearish

AUDUSD Price Forecast Update - 03-04-2024

AUDUSD Analysis

• The AUDUSD price settled above 0.6500$ level, indicating a potential bullish wave.
• However, the EMA50 acts as solid resistance, and stochastic approaches overbought areas.
• Due to conflicting technical factors, it's preferable to stay aside for clearer signals.
• Continued rise and breaching 0.6525$ could lead to gains up to 0.6570$.
• Breaking 0.6500$ may resume the main bearish wave, targeting 0.6450$ and 0.6410$.

Expected Trading Range for Today

• Between 0.6450$ support and 0.6560$ resistance.

Trend Forecast: Neutral