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Soybean price completes positive pattern – Analysis - 02-05-2023
Soybean price couldn’t break 1402.10 level, to trade with clear positivity in the previous sessions, starting today with additional rise to complete forming double bottom pattern that its signs appear on the chart, thus, we suggest the continuation of the bullish bias in the upcoming sessions, targeting visiting 1442.00 followed by 1460.00 levels as main positive stations.
Therefore, the bullish trend will be expected for today, noting that breaking 1417.00 will stop the positive scenario and push the price to decline again.
The expected trading range for today is between 1410.00 support and 1455.00 resistance.
The expected trend for today: Bullish
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Corn price within continuation pattern – Analysis - 02-05-2023
Corn price’s recent trades are confined within bearish pennant pattern that appears on the chart, thus, the price needs to break 575.00 to get negative motive that assists to rally towards our main waited target at 561.30.
MoreThe USDCHF around the moving average – Analysis - 02-05-2023
The USDCHF pair fluctuates around the EMA50 since yesterday, waiting to get new positive momentum that assists to push the price to resume the positive trades, as we expect to achieve bullish correction for the decline from 0.9434 to 0.8860, reminding you that the expected targets begin at 0.8995 and extend to 0.9080 after surpassing the previous level.
MoreThe NZDUSD gets the positive momentum – Analysis - 02-05-2023
The NZDUSD pair attempted to breach 0.6190 level but it found solid resistance there, and begins today with new bullish bias supported by stochastic positivity that appears on the four hours’ time frame, waiting for more rise to surpass the mentioned level and head towards our positive targets that start at 0.6225 and extend to 0.6290.
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