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Sugar price under the negative pressure – Analysis - 05-10-2021
Sugar price provided additional negative trades yesterday to break 19.72 and settles below it, which hints heading to return to the correctional bearish track, but it needs to break 19.50 to confirm the continuation of the decline.
Now, we prefer to stay aside until we get clearer signal for the next trend, noting that breaking 19.50 support will press on the price to decline towards 19.16 as a next negative station, while breaching 20.05 will motivate the price to resume the main bullish track that its first target located at 20.60.
The expected trading range for today is between 19.20 support and 20.00 resistance
The expected trend for today: Neutral
Soybean price keeps declining – Analysis - 05-10-2021
Soybean price continues to decline to crawl gradually towards our waited target at 1225.90, and we expect to break this level to open the way to visit 1195.00 as a next main target.
MoreCorn price keeps fluctuating – Analysis - 05-10-2021
Corn price fluctuates inside the bearish flag pattern that appears on the chart, and we still waiting to break this pattern’s support line -located at 527.80 now- to get negative motive that assist to push the price to resume the main bearish trend, which targets 500.00 as a first station.
MoreThe USDCHF breaks the support – Analysis - 05-10-2021
The USDCHF pair managed to achieve our waited target at 0.9265 and surpassed it to test the bullish trend line that appears on the chart, noticing that the price consolidated above this support and provides clear positive trades, motivated by stochastic positivity, which encourages us to suggest more rise in the upcoming sessions, and it needs to breach 0.9265 to confirm continuing the rise towards 0.9345.
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