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Soybean price reaches the new target – Analysis - 21-08-2023
Soybean price opened today’s trading with strong positivity to reach our waited target at 1385.00, affected by the triple bottom pattern that appears on the chart, to support the chances of achieving additional gains and surpass the mentioned level to visit 1408.00 followed by 1430.40 levels as next positive stations.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period, supported by the EMA50 that carries the price from below, noting that holding above 1311.70 is important to achieve the suggested targets.
The expected trading range for today is between 1350.00 support and 1410.00 resistance.
The expected trend for today: Bullish
Corn price tests the resistance – Analysis - 21-08-2023
Corn price trades positively by today’s open to approach the key resistance 509.50, affected by stochastic positivity, noting that the EMA50 meets the mentioned resistance to add more strength to it, waiting to resume the negative trades to head towards achieving our next main target that reaches 435.60.
MoreThe USDCHF touches the first target – Analysis - 21-08-2023
The USDCHF pair succeeded to achieve our first waited target at 0.8825 and settles there, waiting to breach this level to open the way to head towards our next positive target at 0.8890.
MoreThe NZDUSD awaits more decline – Analysis - 21-08-2023
The NZDUSD pair crawls downwards and reach 0.5900 level, moving within bearish channel that supports the chances of surpassing this level and open the way to extend the bearish wave on the intraday and short-term basis, reminding you that our next stations reach 0.5840 followed by 0.5750.
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