Coffee price holds below the resistance – Analysis – 18-8-2022
Coffee price confirmed its surrender to the domination of the bearish bias by providing new negative closings below the bearish channel’s resistance at 227.10, to notice forming negative waves and settle below the moving average 55 and touch 215.50.
Now, stochastic attempt to provide the negative momentum allows us to expect reacting to the negative factors and start targeting the negative stations by moving towards 211.30 followed by reaching 204.10 to press on 50% Fibonacci correction level.
The expected trading range for today is between 222.00 and 211.30
The expected trend for today: Bearish
Natural gas price moves within tight range – Analysis – 18-8-2022
Natural gas price formed new bullish rally yesterday, while that couldn’t allow the price to regain the bullish bias due to the quick rebound below the key resistance 9.500, while settling below the initial support 9.050 will decrease the chances of suffering additional losses, to expect moving within these levels and providing new sideways trades.
These factors allow us to stay neutral and wait to surpass one of the barriers to manage to detect the next main trend, reminding you that breaching the resistance and holding above it will open the way to reach new positive stations that might start at 10.000, while declining below the initial support will force it to form strong negative waves to suffer many losses that start at 8.750 and 8.110.
The expected trading range for today is between 9.100 and 9.500
The expected trend for today: Neutral
The EURJPY without any change – Analysis – 18-8-2022
The EURJPY pair still stable below 137.55 barrier until this moment, to hinder the bullish attempts and keep suggesting the domination of the correctional bearish bias for the upcoming trading, reminding you that the initial negative targets are located near 136.20 followed by 134.40 that represents 50% Fibonacci correction level.
On the other hand, succeeding to breach the mentioned barrier and getting positive close above it will allow the price to renew the bullish attempts to start forming strong bullish rally in order to reach 138.60 and 139.60 levels.
The expected trading range for today is between 137.55 and 136.20
The expected trend for today: Bearish
No news for the GBPJPY – Analysis – 18-8-2022
The GBPJPY pair repeated the negative closings below 163.40 barrier, to force it to form new negative wave and settle near 162.60, confirming its surrender to the domination of the previously suggested correctional bearish bias.
The price needs new negative momentum to manage to resume the decline by providing strong negative pressures on the moving average 50 at 161.80, while surpassing it might extend losses towards 159.85 in the medium term period.
The expected trading range for today is between 163.00 and 161.80
The expected trend for today: Bearish