Midday update for Sugar price 17-12-2019

Soybean price provided slight negative trades but it attempts to rise now, noticing that the price gets positive signals through stochastic, to support the continuation of the expected positive scenario for today, which its targets begin at 937.6 and extend to 957.0 after breaching the previous level, while the price needs to hold above 925.6 to achieve the suggested targets.

Corn Price shows some slight bearish bias now to approach potential test to 386.3 level, accompanied by stochastic entering the oversold areas, waiting to motivate the price to resume the expected bullish trend on the intraday and short term basis, which depends on the price stability above the mentioned level, while our next main target is located at 394.1.

The NZDUSD pair faced negative pressure this morning to test the key support 0.6565, and it keeps its stability above it until now, noticing that stochastic reaches the oversold areas, which forms positive motive that reinforce the expectations of resuming the main bullish trend, which its next target located at 0.6650, while achieving it requires holding above 0.6565.