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Soybean price exits the bullish channel – Analysis - 17-08-2022
Soybean price provided additional negative trades yesterday to break 1402.10 level and settles below it, which puts the price under expected negative pressure in the upcoming period, on its way to achieve negative targets that start at 1360.00 and extend to 1318.20.
The EMA50 supports the expected decline, noting that breaching 1402.10 will stop the current negative scenario and push the price to recover again.
The expected trading range for today is between 1350.00 support and 1420.00 resistance.
The expected trend for today: Bearish
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Corn price breaks the support – Analysis - 17-08-2022
Corn price faced negative pressure in the previous sessions to break 622.40 level and settles below it, to stop the recently suggested positive scenario and heads to achieve expected decline on the intraday basis, targeting visiting 590.00 followed by 575.00 levels mainly.
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The USDCHF pair provided more bullish bias to approach our waited target at 0.9530, and it is important to monitor the price at this level, as breaching it will lead the price to achieve additional gains that reach 0.9630.
MoreThe NZDUSD tests the resistance – Analysis - 17-08-2022
The NZDUSD pair showed sudden rise by today’s open to test 0.6380 level, but it bounced bearishly again, to keep the bearish trend scenario active for the upcoming period, waiting to surpass 0.6320 to head towards 0.6260 that represents our next target.
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