Soybean price within a positive pattern – Analysis - 22-07-2021
Soybean price’s recent trades are confined within bullish pennant pattern that appears on the chart, which means that breaching 1395.00 will provide good positive motive that supports the expectations of continuing the bullish trend, which targets 1413.00 followed by 1433.70 levels mainly.
Therefore, the positive scenario will remain active for the upcoming period conditioned by the price stability above 1370.00.
The expected trading range for today is between 1365.00 support and 1415.00 resistance.
The expected trend for today: Bullish
Corn price faces solid resistance – Analysis - 22-07-2021
Corn price finds difficulty to surpass 571.50 level, to show some bearish bias and approach testing the key support 559.00, accompanied by stochastic reach to the oversold areas.
Therefore, we believe that the chances valid to resume the bullish trend in the upcoming sessions, and the next target reaches 584.10, noting that breaking 559.00 will stop the expected rise and press on the price to return to the main bearish track again.
The expected trading range for today is between 555.00 support and 575.00 resistance.
The expected trend for today: Bullish
The USDCHF under the negative pressure again – Analysis - 22-07-2021
The USDCHF pair could not manage to hold for long time above 0.9200, to trade negatively and settles below it, and it might head for additional decline affected by stochastic negativity.
In general, we will continue to suggest the bullish trend for the upcoming period unless breaking 0.9135 and holding below it, reminding you that our next main target is located at 0.9265.
The expected trading range for today is between 0.9130 support and 0.9240 resistance.
The expected trend for today: Bullish
The NZDUSD attempts to recover – Analysis - 22-07-2021
The NZDUSD pair achieved some gains yesterday but it faces negative pressure formed by the EMA50, which forces the price to decline again, waiting to resume the bearish trend that its next main target located at 0.6810.
We should note that the continuation of the bearish wave depends on the price stability below 0.7015.
The expected trading range for today is between 0.6880 support and 0.6990 resistance
The expected trend for today: Bearish