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Soybean price is recovering – Forecast today - 07-11-2024
Soybean price bounced upwards clearly yesterday, as it breached 1004.00$ level and settled above it, to turn to rise on the intraday basis and head towards testing 1028.80$ initially, noticing that the price is forming double bottom pattern that has positive targets that surpass the mentioned level to reach 1050.00$ as a next positive station.
Therefore, we expect to witness more rise in the upcoming sessions unless breaking 996.00$ and holding below it.
The expected trading range for today is between 1000.00$ support and 1028.80$ resistance.
Trend forecast: Bullish
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Corn price surpasses the target – Forecast today - 07-11-2024
Corn price rallied upwards strongly yesterday to succeed achieving our waited target at 434.30$, noticing that the price breached this level and closed the last four hours’ candlestick above it, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, noting that the next target reaches 445.40$.
MoreThe USDCHF price reaches the target – Forecast today - 07-11-2024
The USDCHF price traded with strong positivity to reach the waited target at 0.8778, affected by stochastic negativity to show temporary sideways trades, as we suggest resuming the rise to breach the mentioned level and achieve new gains that reach 0.8830 followed by 0.8883.
MoreThe NZDUSD price attempts to recover – Forecast today - 07-11-2024
The NZDUSD price trades positively now to test the EMA50 that forms good intraday resistance against the price, and as long as the price is below 0.6000$, our bearish overview will remain valid for the upcoming period, waiting to get negative motive that assist to push the price to resume the decline that its first target located at 0.5915$.
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