Wheat price hits the first target – Analysis - 28-08-2023
Wheat price resumed its negative trading to succeed achieving our first waited target at 617.00, waiting for more decline to achieve additional negative targets that reach 580.20 areas.
Therefore, the bearish trend will remain valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that the continuation of the bearish wave requires holding below 641.50 as a first condition.
The expected trading range for today is between 600.00 support and 630.00 resistance.
The expected trend for today: Bearish
Sugar price achieves strong gains – Analysis - 28-08-2023
Sugar price ended last Friday with new strong positivity to approach our new waited target at 25.25, and the way seems open to continue the rise and surpass the mentioned level to achieve additional gains that reach 26.00 as a next station.
Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 24.30.
The expected trading range for today is between 24.70 support and 25.60 resistance
The expected trend for today: Bullish
Soybean price hits the positive targets – Analysis - 28-08-2023
Soybean price provided new positive trades to surpass our waited target at 1385.00 and achieve the first extended target at 1400.00, reinforcing the expectations of continuing the bullish trend, and the way is open to achieve our next target at 1430.40.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 1385.00 and holding below it.
The expected trading range for today is between 1385.00 support and 1450.00 resistance.
The expected trend for today: Bullish
The USDCHF tests the support base – Analysis - 28-08-2023
The USDCHF pair shows some bearish bias to test the key support 0.8825, accompanied by stochastic gain to the positive momentum clearly, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which targets 0.8890 as a next station.
The EMA50 supports the expected rise, which will remain valid conditioned by the price stability above 0.8825.
The expected trading range for today is between 0.8780 support and 0.8910 resistance.
The expected trend for today: Bullish