Soybean price opens today’s trading with clear negativity to return to the bearish channel again, reinforcing the expectations of continuing the bearish trend on the intraday and short-term basis, waiting to head towards 1171.50 that represents our next target, noting that breaking it will push the price towards 1150.00 areas as a next main station.

The EMA50 continues to support the suggested bearish wave, which will remain valid unless the price breached 1200.00 and hold above it.

The expected trading range for today is between 1165.00 support and 1190.00 resistance.

The expected trend for today: Bearish

Corn price shows sideways trades in the previous sessions, settling below the minor resistance 442.80, noticing that the technical indicators provide continuous negative signals on the intraday time frames.

Therefore, the bearish trend scenario will remain valid and active for the upcoming period, which targets 435.00 followed by 425.00 levels as next main stations, noting that breaching 446.50 will stop the expected decline and lead the price to start bullish correction on the intraday basis.

The expected trading range for today is between 430.00 support and 445.00 resistance.

The expected trend for today: Bearish

The USDCHF pair rallied upwards strongly yesterday to surpass the first target at 0.8800 and reach the second waited target at 0.8865, noticing that the price attempts to confirm breaching the bearish channel’s resistance that appears on the chart, affected by the previously completed inverted head and shoulders’ pattern, to suggest the continuation of the bullish trend domination and head to achieve new gains that reach 0.9000 barrier.

Therefore, we are waiting for more expected rise in the upcoming sessions, taking into consideration that breaking 0.8850 will put the price under negative pressure to head towards testing 0.8740 areas initially before any new positive attempt.

The expected trading range for today is between 0.8800 support and 0.8940 resistance.

The expected trend for today: Bullish

The NZDUSD pair traded with strong negativity yesterday to achieve our first waited target at 0.6070 and settles below it, noticing that the price completed forming head and shoulders’ pattern that appears on the chart, which supports he chances of continuing the bearish bias in the upcoming sessions to achieve additional negative targets that start at 0.6000 and extend to 0.5915.

Therefore, the bearish trend will remain suggested on the intraday basis, taking into consideration that breaching 0.6070 might push the price to achieve intraday gains and test 0.6140 before any new attempt to decline.

The expected trading range for today is between 0.6010 support and 0.6110 resistance

The expected trend for today: Bearish