Wheat Price Analysis

Expected Scenario

• Wheat price traded with clear positivity to breach the 629.20$ level and settle above it, hinting at an attempt to stop the bearish correction.
• Stochastic shows clear negative signals now, while the EMA50 forms continuous negative pressure against the price.
• We believe that the chances are valid to resume the correctional bearish trend and head to achieve additional negative targets that reach 605.80$.
• Breaching 652.60$ will stop the expected decline and lead the price to attempt to regain the main bullish track again.

Expected Trading Range

Between 625.00$ support and 650.00$ resistance.

Soybean Price Analysis

Expected Scenario

• Soybean price provided new negative trades yesterday, approaching our first waited target at 1150.00$, with expectations for more bearish bias to achieve additional negative targets reaching 1131.40$.
• The previously completed double top pattern is influencing the price movement, evident in its signs on the chart.
• Holding below 1172.00$ represents an initial condition for the continuation of the expected decline. Breaching it will push the price to achieve intraday gains and test 1193.10$ level before any new negative attempt.

Expected Trading Range

Between 1140.00$ support and 1170.00$ resistance.

USDCHF Price Analysis

Expected Scenario

• The USDCHF price continues to fluctuate around the EMA50, with a tight range dominating recent trades.
• We maintain our neutrality until the price confirms breaching 0.9014 or breaking 0.8945 support to get a clearer signal for the next trend.
• Breaking the mentioned support will push the price to resume the correctional bearish track, with targets at 0.8885 and 0.8780.
• Breaching the resistance represents the key to regain the main bullish trend, targeting gains starting at 0.9135 and extending to 0.9224.

Expected Trading Range

Between 0.8900 support and 0.9050 resistance.

NZDUSD Price Analysis

Expected Scenario

• The NZDUSD price provided additional positive trades to attack the 0.6140$ level and attempts to hold above it, hinting at a possible return to the bullish track.
• The EMA50 keeps pressing negatively on the price, potentially hindering the mission to rise.
• We prefer to stay aside until the price confirms its situation according to the 0.6140$ level.
• Holding above 0.6140$ will lead the price to achieve new gains reaching 0.6228$, while trading below it again will reactivate the bearish wave scenario.

Expected Trading Range

Between 0.6090$ support and 0.6190$ resistance.