|
Corn price surpasses the resistance – Analysis - 30-05-2023
Corn price rallied upwards strongly to breach 555.90 and open the way to achieve more bullish correction, as it approached 574.30 level, affected by stochastic negativity to show some slight bearish bias, waiting to resume the positive trades to surpass the last level and open the way to head towards 589.20 as a next correctional target.
Therefore, the bullish bias will be suggested for the upcoming period, noting that breaking 555.90 and holding below it will stop the expected rise and push the price to resume the main bearish trend again.
The expected trading range for today is between 555.90 support and 557.30 resistance.
The expected trend for today: Bullish
Thanks for your feedback.
The USDCHF needs strong positive motive – Analysis - 30-05-2023
The USDCHF pair finds difficulty to breach 0.9055 level, to show some slight bearish bias and head towards potential test to the correctional bullish channel’s support line, noticing that the EMA50 provides the continuous positive support to the price, while stochastic shows clear positive signals now.
MoreThe NZDUSD awaits more decline – Analysis - 30-05-2023
The NZDUSD pair shows more bearish bias to move near 0.6020 level, noticing that stochastic overlaps negatively now, to motivate the price to provide additional negative trades and break the mentioned level to open the way to head towards 0.5900 as a next main target.
MoreThe AUDUSD tests the resistance – Analysis - 30-05-2023
The AUDUSD pair tested the key resistance 0.6550 and keeps its stability below it, to start providing negative trades now and attempts to move away from this level, reinforcing the expectations of continuing the bearish trend for the upcoming period, reminding you that our expected targets begin at 0.6460 followed by 0.6400.
More