Sugar price provided additional negative trades yesterday to move away from 17.70$ level and confirm the continuation of the bearish trend domination on the intraday and short-term basis, noting that the waited negative target declines to 16.65$.

The negative pressure formed by the EMA50 supports the expected bearish trend, noting that breaching 17.70$ followed by 18.05$ levels will stop the bearish wave and lead the price to turn to rise.

The expected trading range for today is between 16.80$ support and 17.65$ resistance

Trend forecast: Bearish

Soybean price faced clear negative pressures to break 1040.00$ and head towards continuing the decline on the intraday basis, on its way to test the key support base at 1014.50$ mainly.

Therefore, the bearish bias will be suggested for today, noting that breaching 1046.00$ and holding above it will stop the current negative pressure and lead the price to resume the bullish track that its next target located at 1080.00$.

The expected trading range for today is between 1015.00$ support and 1050.00$ resistance.

Trend forecast: Bearish

The USDCHF price faced negative pressures yesterday to attempt to break the bullish channel’s support line, but it returns to fluctuate around it, noticing that the EMA50 continues to provide the positive support to the price, waiting to resume the bullish wave that targets 0.9224 mainly.

On the other hand, we should note that breaking 0.9120 and holding below it will push the price to achieve more decline and head to test 0.9014 areas before any new attempt to rise.

The expected trading range for today is between 0.9070 support and 0.9200 resistance.

Trend forecast: Bullish

The NZDUSD price continued to rise to test the main bearish channel’s resistance line, waiting to start bearish wave and resume the main bearish track in the upcoming sessions, to head towards achieving negative targets that start at 0.5540$ and extend to 0.5450$.

The continuation of the bearish wave requires holding below 0.5630$, as breaching it represents the key to start bullish correction that targets 0.5740$ areas on the near-term basis.

The expected trading range for today is between 0.5550$ support and 0.5650$ resistance

Trend forecast: Bearish