Coffee price achieves additional gains – Analysis – 18-11-2021
Coffee price succeeded to form new bullish rally to surpass 222.30 barrier and notice achieving additional gains by reaching 233.25.
The continuous fluctuation within the bullish channel and 222.00 forming additional support line support the continuation of the positivity for the near term and medium term trades, noting that there is a chance to touch the second target at 239.10, while surpassing it might extend trades towards the major resistance at 254.50.
The expected trading range for today is between 222.00 and 239.10
The expected trend for today: Bullish
The AUDCHF repeats the negative closings – Analysis – 18-11-2021
No change to the AUDCHF pair’s bearish track, as it moves away from the key resistance 0.6980, in addition to providing new negative close below the moving average 55 that forms additional barrier at 0.6810.
Therefore, we will continue to suggest the domination of the bearish bias, expecting to gather the additional negative momentum and reach 0.6652 level direct, followed by attempting to press on 23.6% Fibonacci correction level at 0.6515.
The expected trading range for today is between 0.6810 and 0.6660
The expected trend for today: Bearish
The European index prepares for new rise – Analysis – 18-11-2021
The European index succeeded to provide positive close above 4375.00 level recently, to reinforce the continuation of the positivity due to its consolidation within the bullish channel that appears on the chart.
Also, stochastic rally towards the overbought areas assists to provide the additional positive momentum, allowing us to suggest more bullish attempts that might target 4450.00 followed by reaching the historical resistance at 4495.00 as a main target for the current trades.
The expected trading range for today is between 4375.00 and 4450.00
The expected trend for today: Bullish
The EURJPY fluctuates above the major support – Analysis – 18-11-2021
The EURJPY pair kept its positive stability above 128.90 support line until this moment, to increase the chances of starting the bullish trades.
We assure the importance of gathering the positive momentum to assist to form the bullish trades, reminding you that the initial targets are located near 129.80 followed by reaching 130.85 in the medium term period.
The expected trading range for today is between 129.40 and 130.30
The expected trend for today: Bullish