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Soybean price touches the resistance – Analysis - 01-05-2023
Soybean price managed to touch the bearish channel’s resistance that appears on the chart and bounced bearishly from there, to head towards resuming the bearish wave again, motivated by the negative signal provided by stochastic now, besides the negative pressure formed by the EMA50.
Therefore, we expect to witness negative trades in the upcoming sessions, and the targets begin by breaking 1402.10 to open the way to visit 1370.00 as a next station, noting that breaching 1413.50 will push the price to achieve new gains and achieve bullish correction for the last bearish wave.
The expected trading range for today is between 1370.00 support and 1415.00 resistance.
The expected trend for today: Bearish
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Corn price continues to decline – Analysis - 01-05-2023
Corn price shows more bearish bias, and keeps pressing on the bearish channel’s support line, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the negative trades to head towards 561.30 that represents our next main target.
MoreThe USDCHF attempts to start bullish correction – Analysis - 01-05-2023
The USDCHF pair breached the bearish channel’s resistance and settled above it, to head towards starting bearish correction for the decline that started from 0.9434 areas, on its way to test 0.8995 level initially, noting that breaching this level will push the price to visit 0.9080 areas as a next main station.
MoreThe NZDUSD returns to breach the resistance – Analysis - 01-05-2023
The NZDUSD pair ended last Friday with clear positivity, to breach 0.6140 level and settle above the EMA50, to head towards achieving expected gains in the upcoming sessions, paving the way to visit 0.6225 followed by 0.6290 levels as next main stations.
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