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Corn price under the negative pressure – Forecast today - 15-05-2024

Economies.com
2024-05-15 03:38AM UTC

Corn Price Analysis

Expected Scenario

  • Corn price couldn’t manage to hold for long time above 474.70$, to trade with clear negativity in the previous sessions and settle below it, which puts the price under expected negative pressure in the upcoming sessions, on its way to achieve negative targets that start by testing 461.90$.
  • On the other hand, we should note that breaching 474.70$ and holding above it will reactivate the positive scenario and lead the price to achieve new gains that reach 490.40$.

Expected Trading Range

Between 460.00$ support and 476.00$ resistance.

Trend Forecast: Bearish

The USDCHF price gathers new positive momentum – Forecast today - 15-05-2024

Economies.com
2024-05-15 03:38AM UTC

 

USDCHF Price Analysis

Expected Scenario

  • The USDCHF price shows some slight bearish bias to move below the EMA50, noticing that stochastic shows oversold signals now, waiting to motivate the price to resume the expected bullish trend on the intraday and short-term basis, which its next targets located at 0.9170 followed by 0.9225.
  • In general, we will continue to suggest the bullish trend for the upcoming period unless breaking 0.9014 and holding below it.

Expected Trading Range

Between 0.9000 support and 0.9140 resistance.

Trend Forecast: Bullish

 

The NZDUSD price turns to rise – Forecast today - 15-05-2024

Economies.com
2024-05-15 03:38AM UTC

NZDUSD Price Analysis

Expected Scenario

  • The NZDUSD price bounced upwards clearly after the consolidation of 0.6000$ level against the recent negative attempts, to approach 0.6070$ level, and we believe that the way is open to surpass this level and achieve more gains in the upcoming period, as the price is affected by the previously completed double top pattern, to suggest targeting 0.6140$ areas as a next main station.
  • Therefore, the bullish bias will be suggested in the upcoming sessions unless breaking 0.6000$ followed by 0.5980$ levels and holding below them.

Expected Trading Range

Between 0.6100$ support and 0.6110$ resistance.

Trend Forecast: Bullish

The AUDUSD price builds positive technical formation – Forecast today - 15-05-2024

Economies.com
2024-05-15 03:38AM UTC

 

AUDUSD Price Analysis

Expected Scenario

  • The AUDUSD price keeps rising to reach the key resistance 0.6640$, and by taking a deeper look at the chart, we find that the price is forming inverted head and shoulders’ pattern that its confirmation line meets this resistance, to hint heading to rise in the upcoming sessions and stop the recently suggested negative scenario.
  • Therefore, we expect to witness more rise on the intraday and short-term basis, and breaching 0.6640$ will confirm rallying towards 0.6728$ followed by 0.6800$ levels as next positive stations, taking into consideration that breaking 0.6570$ will stop the positive scenario and push the price to turn to decline.

Expected Trading Range

Between 0.6600$ support and 0.6700$ resistance.

Trend Forecast: Bullish