Soybean price awaits negative motive – Analysis - 20-05-2020

Corn Price tested 326.10 and bounced bearishly from there, accompanied by witnessing clear negative signals through stochastic, which supports the expectations of continuing the bearish trend in the upcoming period, noting that our targets begin by breaking 317.00 to open the way to head towards the recently recorded low at 307.60.

The tight range dominates the USDCHF pair’s recent trades, and as long as the price is below 0.9730, our bearish overview will remain valid, waiting to head towards 0.9626 mainly, reminding you that breaching 0.9730 will push the price to achieve positive targets that start at 0.9800 and extend to 0.9900.

The NZDUSD pair ended yesterday at 0.6073 after breaching it in the previous sessions, facing negative pressure affected by stochastic negativity, and the price needs to consolidate above the mentioned level to confirm the continuation of the positive scenario mentioned in our last report, which targets 0.6216 as a next positive station.