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Sugar price touches the first target – Analysis - 17-07-2023
Sugar price managed to achieve our first target at 24.30 and settles there, waiting to resume the positive trades to achieve additional gains that reach 25.25, affected by the double bottom pattern that appears on the chart.
Therefore, the bullish trend will remain valid and active on the intraday basis, supported by the EMA50 that carries the price from below, reminding you that the continuation of the bullish wave depends on the price stability above 23.50.
The expected trading range for today is between 24.00 support and 24.70 resistance
The expected trend for today: Bullish
Soybean price tests the resistance – Analysis - 17-07-2023
Soybean price continued to rise to test 1385.00 level, which represents the sideways range’s resistance that dominates the intraday trades, with chances to rebound bearishly to visit this range’s support line at 1311.70.
MoreCorn price begins positively – Analysis - 17-07-2023
Corn price opened today’s trading with clear positivity to breach 509.50 level and settles above it, to hint the attempt to recover and stop the negative pressure that dominates the recent trades, but its still below the key resistance 529.00, which represents the neckline of the head and shoulders’ pattern that its signs appear on the chart, which makes us prefer to stay aside until we get clearer signal for the next trend.
MoreThe USDCHF loses momentum – Analysis - 17-07-2023
The USDCHF pair shows more bearish bias, noticing that stochastic shows clear negative signals now, waiting to motivate the price to resume the main bearish trend, which its next targets located at 0.8520 followed by 0.8450.
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