Sugar price rallied upwards strongly yesterday to reach our waited extended target at 26.80, and we expect the continuation of the bullish trend domination to surpass this level and achieve additional gains that reach 27.50 areas.
Therefore, we are waiting for more bullish bias in the upcoming sessions, supported by the EMA50, taking into consideration that failing to surpass 26.80 will stop the positive scenario and h the price to turn to decline.
The expected trading range for today is between 26.40 support and 27.25 resistance
The expected trend for today: Bullish
Soybean price tested 1385.00 resistance line and keeps its stability below it, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the expected bearish trend on the intraday basis, which its next target located at 1348.30.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 1385.00 and holding above it.
The expected trading range for today is between 1355.00 support and 1390.00 resistance.
The expected trend for today: Bearish
Corn price shows sideways and tight trades, settling around 490.00, thus, no change to the expected bearish trend on the intraday and short term basis, which gets continuous support by the EMA50, depending on the price stability below 509.50, reminding you that our next main target reaches 435.60.
The expected trading range for today is between 475.00 support and 495.00 resistance.
The expected trend for today: Bearish
The USDCHF pair succeeded to achieve our waited target at 0.8890 and settles around it, noticing that the price closed the daily candlestick above it, to support the chances of continuing the bullish bias and head to achieve additional gains that reach 0.8995.
Therefore, our bullish overview will remain valid, supported by the EMA50, noting that failing to consolidate above .08890 will push the to test 0.8825 areas again before any new attempt to rise.
The expected trading range for today is between 0.8825 support and 0.8960 resistance.
The expected trend for today: Bullish