Soybean Price Update

Soybean Analysis

• Soybean price ended yesterday with clear negativity.
• It broke the 1193.10$ level and settled below it.
• This stops the recently suggested bullish trend.
• The price is heading towards resuming the main bearish trend.
• Targets start at 1164.00$ and extend to 1131.40$.

Expected Trading Range for Today

• Between 1150.00$ support and 1193.00$ resistance.

Trend Forecast: Bearish

Corn Price Update

Corn Analysis

• The corn price bounced downwards strongly yesterday after encountering solid resistance at 449.20$.
• It tested the key support level at 433.50$.
• The price consolidates above this level, keeping the chances valid for continuing the correctional bullish trend.
• Supported by stochastic reaching oversold areas.
• Waiting for positive trades in the upcoming sessions.
• The first target is represented by testing 449.20$ again.
• Breaking 433.50$ will stop the correctional bullish scenario and push the price to decline again.

Expected Trading Range for Today

• Between 430.00$ support and 445.00$ resistance.

Trend Forecast: Bullish

NZDUSD Price Forecast - 03-04-2024

NZDUSD Analysis

• The NZDUSD price trades slightly positive, testing the 0.5960$ level.
• However, the EMA50 continues to exert negative pressure on the price.
• Expected bearish wave for the upcoming period targets testing 0.5915$.
• Holding below 0.6000$ is crucial for the expected decline, while breaching it may lead to recovery attempts.

Expected Trading Range for Today

• Between 0.5900$ support and 0.6000$ resistance.

Trend Forecast: Bearish