Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD
WhatsApp Telegram LinkedIn Facebook X TikTok Instagram

Sugar price declines again – Analysis - 16-08-2023

Economies.com
2023-08-16 03:33AM UTC

Sugar price provided additional negative trades to break 24.00 and settles below it, to reactivate the bearish trend scenario and head towards achieving negative targets that start at 23.50 and extend to 23.75 after breaking the previous level.

 

Therefore, we expect to witness more decline in the upcoming sessions, supported by moving below the EMA50, noting that breaching 24.30 will stop the negative scenario and lead the price to attempt to regain the main bullish trend again.

 

The expected trading range for today is between 23.40 support and 24.30 resistance

 

The expected trend for today: Neutral

Soybean price keeps its positive stability – Analysis - 16-08-2023

Economies.com
2023-08-16 03:33AM UTC

Soybean price attempted to break 1311.70 level yesterday, but it begins today positively to settle above the mentioned level, which keeps the bullish trend scenario active, waiting to head towards 1348.30 mainly.

 

Stochastic provides positive signals that we are waiting to motivate the price to achieve the expected rise, reminding you that it is important to hold above 1311.70 to continue the bullish wave.

 

The expected trading range for today is between 1300.00 support and 1345.00 resistance.

 

The expected trend for today: Bullish

Corn price heads towards more negative targets – Analysis - 16-08-2023

Economies.com
2023-08-16 03:33AM UTC

Corn price shows more bearish bias, to confirm the continuation of the bearish trend domination, reminding you that our next target is located at 435.60.

 

Therefore, the negative scenario will remain valid and active, supported by the negative pressure formed by the EMA50, noting that breaching 509.50 will stop the expected decline and lead the price to turn to rise.

 

The expected trading range for today is between 460.00 support and 480.00 resistance.

 

The expected trend for today: Bearish

The USDCHF settles above the support base – Analysis - 16-08-2023

Economies.com
2023-08-16 03:33AM UTC

The USDCHF pair settles above 0.8775 level, getting continuous positive support by the EMA50, to support the chances of continuing the bullish correction and achieve positive targets that start at 0.8825 and extend to 0.8890 after surpassing the previous level.

 

Therefore, the bullish trend scenario will remain valid and active, affected by the previously completed double top pattern, noting that holding above 0.8775 represents the first protection factor to the continuation of the expected rise.

 

The expected trading range for today is between 0.8720 support and 0.8860 resistance.

 

The expected trend for today: Bullish