Soybean price gets positive motive – Forecast today - 08-05-2024
Soybean Price Analysis
Outlook and Forecast for Current Trading Sessions
Expected Scenario
- Price fluctuates within sideways track near 1231.20$ level
- Bullish overview remains valid as long as the price is above this level
- Next target: 1262.10$
Soybean price fluctuates within a sideways track in the previous sessions, moving near the 1231.20$ level. As long as the price is above this level, our bullish overview will remain valid. Breaking it will push the price to stop the correctional bullish scenario and decline again.
Stochastic shows positive signals that support the continuation of the suggested bullish wave, reminding you that our next target is located at 1262.10$.
Expected Trading Range
- Support: 1225.00$
- Resistance: 1260.00$
Trend Forecast: Bullish
Corn price gathers the positive momentum – Forecast today - 08-05-2024
Corn Price Analysis
Outlook and Forecast for Current Trading Sessions
Expected Scenario
- Price shows slight bearish bias around 467.00$
- Stochastic indicator enters oversold areas, indicating a potential upward movement
- Next target: 474.70$
Corn price shows slight bearish bias to move around 467.00$, noticing that stochastic got rid of its negative momentum to enter the oversold areas, waiting to motivate the price to resume the positive trades and visit 474.70$ that represents our next target.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 461.90$ will stop the expected rise and push the price to turn to decline.
Expected Trading Range
- Support: 461.00$
- Resistance: 475.00$
Trend Forecast: Bullish
The USDCHF price continues to rise – Forecast today - 08-05-2024
USDCHF Price Analysis
Outlook and Forecast for Current Trading Sessions
Expected Scenario
- Price continues rising towards key resistance at 0.9095 (EMA50)
- Bullish overview remains valid
- Importance of holding above 0.9014 for achieving suggested targets
The USDCHF price keeps rising to reach the EMA50 that forms key resistance around 0.9095, and the price needs to surpass this level to confirm the continuation of the bullish wave and head towards our positive targets that start at 0.9170 followed by 0.9225.
Therefore, our bullish overview will remain valid, reminding you that it is important to hold above 0.9014 to achieve the suggested targets.
Expected Trading Range
- Support: 0.9030
- Resistance: 0.9160
Trend Forecast: Bullish
The NZDUSD price breaks the support – Forecast today - 08-05-2024
NZDUSD Price Analysis
Outlook and Forecast for Current Trading Sessions
Expected Scenario
- Price traded with clear negativity, breaking key support at 0.6000$
- Bearish bias suggested for today
- Break below 0.5980$ needed to confirm continuation of bearish bias
The NZDUSD price traded with clear negativity, breaking 0.6000$ level and starting to press on the breached neckline of the double bottom pattern, which hints heading to turn to decline, on its way to achieve negative targets that start by visiting 0.5915$ areas.
Therefore, the bearish bias will be suggested for today, and breaking 0.5980 is required to confirm the continuation of the bearish bias, noting that breaching 0.6000$ will stop the negative scenario and lead the price to recover again.
Expected Trading Range
- Support: 0.5935$
- Resistance: 0.6030$
Trend Forecast: Bearish