Soybean Price Analysis

Expected Scenario

• Soybean price traded with clear negativity yesterday, to reactivate the bearish trend scenario and head towards achieving negative targets that start by testing 1193.10$ level, noticing that the price forms double top pattern that we expect to cause more decline on the longer-term basis.
• We expect the continuation of the bearish trend in the upcoming sessions, noting that breaching 1231.20$ will stop the expected decline and lead the price to turn to rise.

Expected Trading Range

Between 1190.00$ support and 1225.00$ resistance.

Corn Price Analysis

Expected Scenario

• Corn price bounced downwards clearly after touching the waited target at 474.70$, and by taking a deeper look at the chart, we find that the price placed lower high and hints heading to achieve more expected decline in the upcoming sessions, noting that breaking 461.90$ will confirm extending the bearish wave towards 449.20$ areas.
• The bearish bias will be suggested for today unless the price rallied to breach 474.70$ and hold above it.

Expected Trading Range

Between 455.00$ support and 470.00$ resistance.

USDCHF Price Analysis

Expected Scenario

• The USDCHF price tested 0.9080 level and bounced bullishly from there, to head towards resuming the expected bullish trend on the intraday basis, which targets 0.9224 level as a next station.
• Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise, which will remain valid conditioned by the price stability above 0.9080.

Expected Trading Range

Between 0.9060 support and 0.9200 resistance

NZDUSD Price Analysis

Expected Scenario

• The NZDUSD price faces negative pressure to break 0.6140$ level and attempts to hold below it, to hint turning to decline in the upcoming period, while the EMA50 provides the positive support to the price, which might assist to push the price to rise again.
• The contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to the above-mentioned level, noting that confirming the break will push the price to target 0.6070$ areas initially, while trading above it again will revive the positive scenario that its next target located at 0.6228$.

Expected Trading Range

Between 0.6080$ support and 0.6180$ resistance