Coffee price continued forming strong bearish trading, affected by forming solid barrier at 330.00 level in the last trading, to notice reaching 283.00 to record the suggested targets in the previous reports.

Stochastic attempt to exit the oversold level might push the price to form mixed trading, but it will not affect the negative scenario, to expect reaching 275.80 level, and breaking it will open the way for reaching extra negative stations that might begin at 264.60 and 241.40.

The expected trading range for today is between 264.00 and 298.00 

Trend forecast: Bearish

No change on EURJPY pair’s bullish track, due to its stability above 180.80 support, attempting to record some gains by its rally towards 182.10, to provide some sideways trading due to the continuation of the main indicators’ contradiction.

The price success in gathering bullish momentum will ease the way for resuming the bullish attempts to target 182.60 and 183.35 level, while breaking the current support and holding below it will open the way for activating the negative trend again, and 180.10 level represents the initial target.

The expected trading range for today is between 181.00 and 182.60

Trend forecast: Bullish

The GBPJPY pair approached the previously waited main target by reaching 207.30 level which forces it to form some bullish corrective waves, affected by stochastic rally above 50 level, which allows it to recover some losses to settle near 208.15.

Note that the negative stability below 209.15 level represents main factor to confirm the previously suggested negativity, therefore, we will keep waiting for gathering extra negative momentum to reinforce the chances of reaching 207.05, while surpassing the barrier and holding above it will ease the mission of achieving several gains by its rally towards 209.85 reaching 207.05. 

The expected trading range for today is between 207.05 and 208.75

Trend forecast: Bearish

Despite stability below $2245.00, Platinum price neediness for negative pressure pushed it to provide more sideways trading, to fluctuate near $2050.00 level without reaching any of the previously waited corrective targets.

We will depend on the attempt of forming extra barrier at $2130.00 level to increase the chances of gathering bullish momentum then attempts to press on the moving average 55 at $1925.00 and surpassing it will lead to reach the next target near $1880.00, while surpassing this barrier will provide a chance for recovering some losses by its rally towards $2245.00.

The expected trading range for today is between $1950.00 and $2100.00

Trend forecast: Bearish