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Soybean price breaks key support – Analysis - 04-08-2022
Soybean price traded with clear negativity in the previous sessions to break the intraday bullish channel’s support line that appears on the chart and settles below it, reinforcing the expectations of continuing the bearish trend on the intraday basis, opening the way to achieve our negative targets that start at 1355.00 and extend to 1318.20.
The EMA50 supports the suggested bearish wave, which will remain valid conditioned by the price stability below 1402.10.
The expected trading range for today is between 1318.00 support and 1390.00 resistance.
The expected trend for today: Bearish
Corn price crawls downwards – Analysis - 04-08-2022
Corn price continues to decline to move below 600.00 barrier, reinforcing the expectations of continuing the bearish trend, which targets 575.00 as a next station, noting that breaking this level will extend the bearish wave to reach 550.00 as a next target.
MoreThe USDCHF tests the resistance – Analysis - 04-08-2022
The USDCHF pair continued to rise to surpass 0.9585 level and test the most important resistance at 0.9630, and consolidates below this resistance now, noticing that stochastic provides negative signals on the four hours’ time frame, waiting to motivate the pirce to rebound bearishly and resume the main bearish trend.
MoreThe NZDUSD confirms the breach – Analysis - 04-08-2022
The NZDUSD pair confirmed breaching 0.6257 level after closing the daily candlestick above it, to reactivate the bullish trend scenario and head towards achieving new gains that start at 0.6320 and extend to 0.6380 after breaching the previous level.
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