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Sugar price surpasses the target – Analysis - 08-07-2022
Sugar price rallied upwards strongly yesterday to succeed achieving our waited target at 18.40, and breached it to settle above the bearish channel’s resistance, which leads the price to achieve more rise on the intraday and short term basis, on its way to visit 18.65 followed by 19.00 levels as next main stations.
Therefore, we expect the continuation of the bullish bias in the upcoming sessions unless breaking 18.30 and holding below it.
The expected trading range for today is between 18.30 support and 19.00 resistance
The expected trend for today: Bullish
Soybean price approaches the positive target – Analysis - 08-07-2022
Soybean price shows more bullish bias to approach our waited positive target at 1402.10, and we need to monitor the price when reaching this level, as breaching it will lead the price to achieve additional gains that reach 1470.00, while consolidating below it will press on the price to decline again.
Until now, we will continue to suggest the bullish trend on the intraday basis unless breaking 1318.20 and holding below it.
The expected trading range for today is between 1350.00 support and 1420.00 resistance.
The expected trend for today: Bullish
Corn price approaches the resistance – Analysis - 08-07-2022
Corn price keeps rising to reach 622.40 level, accompanied by witnessing clear negative signals through stochastic, waiting to motivate the price to resume the main bearish trend, which targets 575.00 as a next station.
The EMA50 supports the expected decline, which will remain valid unless breaching 622.40 and holding above it.
The expected trading range for today is between 580.00 support and 625.00 resistance.
The expected trend for today: Bearish
The USDCHF gets a positive close – Analysis - 08-07-2022
The USDCHF pair closed the daily candlestick above 0.9730 level, which supports the continuation of the expected bullish trend for the upcoming period, paving the way to head towards our next positive target at 0.9860.
The EMA50 continues to support the suggested bullish wave, noting that breaking 0.9700 will press on the price to decline towards 0.9630 areas before any new attempt to rise.
The expected trading range for today is between 0.9670 support and 0.9790 resistance.
The expected trend for today: Bullish