Wheat Price Analysis

Expected Scenario

• Wheat price ended yesterday positively, breaching the 701.10$ level and closing the daily candlestick above it. Today, it started with a bullish rally to continue rising within the bullish channel on the chart, aiming to achieve additional gains in the upcoming sessions, with targets starting at 720.00$ and extending to 746.00$ after surpassing the previous level.
• Therefore, we expect to witness more bullish bias in the upcoming sessions. Note that breaking 701.10$ will halt the suggested rise and push the price to turn to decline on the intraday basis.

Expected Trading Range

Between the support at 710.00$ and the resistance at 725.00$.

Soybean Price Analysis

Expected Scenario

• Soybean price is testing the 1231.20$ level again and remains below it until now. There are signs of forming a double top pattern, which we expect to support the expectations of a decline in the upcoming sessions, targeting mainly the 1193.10$ areas.
• Therefore, the bearish trend scenario will remain valid and active on the intraday basis unless there is a breach of 1231.20$ and holding above it.

Expected Trading Range

Between the support at 1200.00$ and the resistance at 1245.00$.

Corn Price Analysis

Expected Scenario

• Corn price opened today with new positivity to breach 461.90$ and settles above it, to head towards achieving expected gains in the upcoming sessions, targeting visiting 474.70$ as a next main target.
• Therefore, the bullish bias will be suggested for today, supported by stochastic positivity, noting that breaking 461.90$ and holding below it again will turn the intraday trades to decline, to head towards targeting 449.20$ initially.

Expected Trading Range

Between the support at 460.00$ and the resistance at 475.00$.

USDCHF Price Analysis

Expected Scenario

• The USDCHF price didn’t exhibit any strong movement yesterday, remaining stable near the 0.9100 level and maintaining its stability above it.
• There is no change to the expected bullish trend scenario for the upcoming period, which receives good support from the EMA50.
• Our awaited target is located at 0.9224. However, breaking 0.9080 might push the price to test the most important support for short-term trades at 0.9014 before any new attempt to rise.

Expected Trading Range

Between the support at 0.9060 and the resistance at 0.9190.