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Sugar price attempts to recover – Analysis - 10-06-2022
Sugar price traded with strong positivity to breach 19.16 and settles above it, to attempt to recover and achieve gains on the intraday basis, but it faces strong negative pressure formed by the EMA50, to hinder the positive attempts.
We prefer to stay aside temporarily until we get clearer signal for the next trend, through breaking 19.16 support or breaching 19.72 resistance, noting that breaking the mentioned support will push the price to decline again and head towards 18.70 as a next negative station, while breaching the resistance will lead the price to regain the main bullish trend again.
The expected trading range for today is between 19.00 support and 19.85 resistance
The expected trend for today: Neutral
Soybean price breaches the resistance – Analysis - 10-06-2022
Soybean price rallied upwards to breach 1621.50 level and settles above it, to head towards achieving expected gains in the upcoming sessions, targeting testing 1671.00 level initially, which breaching it represents the key to extend the bullish wave towards 1700.00 followed by 1757.00.
Therefore, the bullish bias will be suggested on the intraday basis unless breaking 1621.50 and holding below it again.
The expected trading range for today is between 1610.00 support and 1670.00 resistance.
The expected trend for today: Bullish
Corn price hits the target – Analysis - 10-06-2022
Corn price succeeded to touch our waited target at 749.00 and found solid resistance there, to show some temporary bearish bias, noticing that stochastic enters the oversold areas, waiting to motivate the price to resume the positive trades to surpass the mentioned level and open the way to head towards 763.10 as a next main target.
Therefore, we will continue to suggest the bullish trend unless breaking 731.60 and holding below it.
The expected trading range for today is between 735.00 support and 755.00 resistance.
The expected trend for today: Bullish
The USDCHF needs the positive momentum – Analysis - 10-06-2022
The USDCHF pair tested 0.9730 level yesterday and bounced upwards clearly, to keep the bullish trend scenario active on the intraday and short term basis, and the way is open to achieve our next target at 0.9860.
The price might witness some temporary sideways fluctuation until getting positive momentum that assists to push trades to continue the suggested bullish trend, noting that the continuation of the bullish wave requires holding above 0.9730.
The expected trading range for today is between 0.9730 support and 0.9860 resistance.
The expected trend for today: Bullish