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Corn price keeps fluctuating – Analysis - 05-10-2021
Corn price fluctuates inside the bearish flag pattern that appears on the chart, and we still waiting to break this pattern’s support line -located at 527.80 now- to get negative motive that assist to push the price to resume the main bearish trend, which targets 500.00 as a first station.
Holding below 555.00 is required to continue the expected decline, as breaching it will lead the price to turn to rise and attempt to return to the long term bullish track again.
The expected trading range for today is between 530.00 support and 545.00 resistance.
The expected trend for today: Bearish
The USDCHF breaks the support – Analysis - 05-10-2021
The USDCHF pair managed to achieve our waited target at 0.9265 and surpassed it to test the bullish trend line that appears on the chart, noticing that the price consolidated above this support and provides clear positive trades, motivated by stochastic positivity, which encourages us to suggest more rise in the upcoming sessions, and it needs to breach 0.9265 to confirm continuing the rise towards 0.9345.
MoreThe NZDUSD resumes the decline – Analysis - 05-10-2021
The NZDUSD pair resumes its negative trading after reaching 0.6990 areas, to keep the breaish trend scenario valid and active, waiting to test 0.6890 level initially, noting that breaking this level will extend the bearish wave to reach 0.6805.
MoreThe AUDUSD breaches the channel’s resistance – Analysis - 05-10-2021
The AUDUSD pair kept rising to breach the bearish channel’s resistance, but we notice that the price stopped at 38.2% Fibonacci correction level for the decline measured from 0.7478 to 0.7172, which hints heading to return to decline again, and it needs to break 0.7245 to confirm continuing the decline towards 0.7170 initially.
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