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Soybean price hits the first target – Analysis - 07-05-2021
Soybean price succeeded to achieve our first waited target at 1548.00 and settles near it, waiting for more rise to head towards our next target that reaches 1573.00.
In general, we will continue to suggest the bullish trend for the upcoming period unless breaking 1527.20 and holding below it, as breaking this level will put the price under the correctional bearish pressure again.
The expected trading range for today is between 1535.00 support and 1570.00 resistance.
The expected trend for today: Bullish
Corn price continues to rise – Analysis - 07-05-2021
Corn price opens today’s trading with additional bullish bias to support the expectations of continuing the main bullish trend, and we believe that the way is open to head towards 730.00 that represents our next target, supported by the EMA50 that continues to carry the price from below.
The bullish channel keeps organizing the suggested bullish wave, which will remain valid conditioned by the price stability above 682.00.
The expected trading range for today is between 700.00 support and 730.00 resistance.
The expected trend for today: Bullish
The USDCHF approaches the first target – Analysis - 07-05-2021
The USDCHF pair traded with strong negativity yesterday to break 0.9100 and settles below it, as it approached our first waited target at 0.9065, and we believe that the way is open to continue the decline to head towards 0.8990 that represents our extended target.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 0.9150.
The expected trading range for today is between 0.9020 support and 0.9120 resistance.
The expected trend for today: Bearish
The NZDUSD continues to rise – Analysis - 07-05-2021
The NZDUSD pair shows positive trades and attempts to move away from the EMA50, reinforcing the expectations of continuing the bullish trend in the upcoming period, and the way is open to head towards our next target at 0.7325.
Therefore, we will continue to suggest the bullish bias on the intraday and short term basis unless breaking 0.7145 and holding below it.
The expected trading range for today is between 0.7180 support and 0.7300 resistance
The expected trend for today: Bullish