Soybean price bounced downwards strongly yesterday, starting today with more negativity to break 1311.70 and settles below it, and by taking a deeper look at the chart, we find that the price is forming double top pattern that its confirmation line located at 1295.00, which means that breaking this level will push the price to suffer more losses that reach 1266.30 areas.

Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 1311.70 will stop the current negative pressure and push the price to recover again.

The expected trading range for today is between 1270.00 support and 1315.00 resistance.

The expected trend for today: Bearish

Corn price trades with clear negativity by today’s open to attack 487.90 level and attempts to hold below it, to start activating the negative scenario and pave the way to start new bearish wave that targets 481.30 areas mainly.

Therefore, the bearish bias will be expected for today, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 493.20 will stop the expected decline and lead the price to turn to rise.

The expected trading range for today is between 481.00 support and 491.00 resistance.

The expected trend for today: Bearish

The USDCHF pair continues to provide the positive trades, noticing that stochastic gains the positive momentum on the four hours’ time frame, waiting to assist to push the price to achieve more rise and surpass our waited target at 0.9066 to open the way to head towards 0.9165.

Therefore, the bullish trend will remain valid and active for the upcoming period, supported by the EMA50, reminding you that it is important to hold above 0.8968 to continue the suggested rise.

The expected trading range for today is between 0.8970 support and 0.9100 resistance.

The expected trend for today: Bullish

The NZDUSD pair surpassed the bearish channel’s resistance and settled above it, to start the attempts to retrace on the intraday basis, but we notice that the price is affected by the negative momentum to start today with clear decline, which urges caution from the upcoming trading to confirm the next destination clearly, to stay neutral temporarily.

Note that the continuation of the decline and breaking 0.5800 will push the price back to the main bearish track to head towards achieving negative targets that start at 0.5750 followed by 0.5700, while breaching 0.5845 resistance represents the key to continue the rise and visit 0.5900 initially.

The expected trading range for today is between 0.5775 support and 0.5880 resistance

The expected trend for today: Neutral