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Wheat price reaches the thresholds of the target – Analysis - 12-09-2023
Wheat price provided clear negative trades yesterday to reach the thresholds of the main waited target at 580.20, falling under continuous negative pressure coming by the EMA50, which supports the chances of surpassing the mentioned level and open the way to achieve additional negative targets that reach 560.00.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 608.00 will stop the expected decline and lead the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 575.00 support and 600.00 resistance.
The expected trend for today: Bearish
Sugar price tests the key support – Analysis - 12-09-2023
Sugar price faced new negative pressure yesterday to test the key support 26.20, noticing that the price consolidated above this level to attempt to rise again, which keeps our positive overview valid and active, waiting to breach 26.80 to open the way to head towards our next main target at 27.50.
MoreThe USDCHF awaits more rise – Analysis - 12-09-2023
The USDCHF pair continues to fluctuate within sideways track, keeping its stability above 0.8890, thus, no change to the expected bullish trend for the upcoming period, which its next target reaches 0.8995, while achieving it requires holding above 0.8890.
MoreThe NZDUSD builds support base – Analysis - 12-09-2023
The NZDUSD pair settles above 0.5900 level, to build support base that supports the chances of starting bullish wave on the intraday basis, on its way to achieve gains that reach 0.6020 initially.
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