Soybean Price Analysis

Soybean price begins today negatively, pressing on the intraday bullish trend line. The EMA50 continues to provide positive support to the price, while stochastic reaches the oversold areas.

• These factors encourage us to continue suggesting the correctional bullish trend.
• The target is set at 1231.20$ as the next station.
• Breaking 1193.10$ will stop the expected rise and push the price to return to the main bearish track again.

The expected trading range for today is between 1190.00$ support and 1220.00$ resistance.

Trend forecast: Bullish

Corn Price Analysis

Corn price ended yesterday with strong negativity, breaking the 442.00$ level and reaching 433.50$ by today’s open. This hints at stopping the bullish correction and resuming the main bearish track again.

• The bearish bias will be suggested in the upcoming sessions.
• Breaking 433.50$ will push the price to achieve negative targets that start at 424.20$ and extend to 415.50$.
• Consolidation of 433.50$ against the current negative pressure will stop the negative scenario and lead to new bullish correction.

The expected trading range for today is between 425.00$ support and 440.00$ resistance.

Trend forecast: Bearish

USDCHF Pair Analysis

The USDCHF pair shows new positive trades to move away from the 0.9000 barrier, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis. The way is open to achieve our next target at 0.9105, with a potential push to test 0.9150 upon surpassing it.

• The bullish channel continues to organize the expected bullish wave, which receives continuous support from the EMA50.
• Breaking 0.9000$ might push the price to test the bullish channel’s support line around 0.8910 before any new attempt to rise.

The expected trading range for today is between 0.8970 support and 0.9115 resistance.

Trend forecast: Bullish

NZDUSD Price Analysis

• The NZDUSD price begins to press on the key support at 0.6000$.
• Breaking this level may confirm the continuation of the bearish trend and target 0.5915$.
• We continue to suggest the bearish trend for the upcoming period, supported by the negative pressure from the EMA50.
• Consolidation of the current support against negative pressure may lead to intraday gains and a test of the 0.6070$ level before any new negative attempt.

The expected trading range for today is between 0.5930$ support and 0.6040$ resistance.

Trend forecast: Bearish