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Soybean price begins negatively – Analysis - 30-05-2023
Soybean price tested the bearish channel’s resistance and bounced bearishly by today’s open, to resume the main bearish trend, on its way to visit 1200.00 as a next main target.
The EMA50 continues to support the suggested bearish wave, besides the negative signals provided by stochastic, to keep the bearish trend scenario valid and active conditioned by the price stability below 1270.00.
The expected trading range for today is between 1225.00 support and 1265.00 resistance.
The expected trend for today: Bearish
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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.
MoreThe 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.
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