Corn price faces temporary negative pressure – Analysis - 27-10-2020
Corn price provided negative trades yesterday to test the minor bullish channel’s support line, and it kept its stability above it, which keeps the main bullish trend scenario active for the upcoming period, supported by the EMA50, waiting to head towards 434.00 as a next main target.
We should note that breaking 414.50 and holding below it will stop the expected rise and put the price under negative pressure that targets visiting 395.50 areas before any new attempt to rise.
The expected trading range for today is between 412.00 support and 425.00 resistance.
The expected trend for today: Bullish
The USDCHF attempts to recover – Analysis - 27-10-2020
The USDCHF pair achieved initial breach to the bearish channel’s resistance but it faced good resistance formed by the EMA50, which presses on the price to decline again, and it needs to trade below 0.9060 to confirm the return to the mentioned channel followed by resuming the main bearish trend.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 0.9090, reminding you that our main waited targets begin at 0.9010 and extend to 0.8930 after breaking the previous level.
The expected trading range for today is between 0.9000 support and 0.9100 resistance.
The expected trend for today: Bearish
No news for the NZDUSD – Analysis - 27-10-2020
The NZDUSD pair continues to fluctuate within tight track, settling around 0.6690, and as long as the price is above 0.6640, the positive scenario will remain valid for the upcoming period, and the price needs to surpass 0.6705 to confirm opening the way to achieve our next positive target at 0.6788.
The expected trading range for today is between 0.6640 support and 0.6760
The expected trend for today: Bullish
The AUDUSD within tight track – Analysis - 27-10-2020
The tight range continues to dominate the AUDUSD pair’s trading, which fluctuates below the bearish channel’s resistance, which keeps our bearish overview valid as it is without any change, which targets 0.7000 followed by 0.6964 levels as next main stations, while holding below 0.7165 represents key condition to continue the expected decline.
The expected trading range for today is between 0.7060 support and 0.7180
The expected trend for today: Bearish