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Copper needs new momentum – Analysis – 19-10-2017
Copper price continued to provide weak sideways trading due to lacking the positive momentum, noticing the stability around 3.1700, while the price might move to test the initial support at 3.0800, waiting to gather the bullish momentum again to manage to resume the bullish attack by moving towards 3.3200 followed by reaching the bullish channel's resistance around 3.4200.
We should note that the continuation of the negative pressures caused by stochastic decline from the overbought areas and attempt to break the initial support will postpone the bullish overview until testing 50% Fibonacci correction level around 2.8600.
Expected trading range for today is between 3.0800 and 3.3200
Expected trend for today: Fluctuated within the bullish range
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Bitcoin recovers – Analysis - 19-10-2017
Bitcoin price bounced upwards strongly after approaching from 5000.00 barrier yesterday, as it showed bearish correction for the rise measured from 2972.00 to 5846.40, leaning well on 23.6% Fibonacci correction level to resume the main bullish track again.
MoreUSDCHF tests the resistance – Analysis - 19-10-2017
The USDCHF pair continued its positive trading to test the key resistance 0.9815 and keeps its stability below it until now, which keeps the bearish trend scenario valid until now, waiting to break 0.9700 level to confirm the continuation of the bearish bias towards 0.9625 followed by 0.9578, which represent our next main targets.
MoreNZDUSD leans on the moving average – Analysis - 19-10-2017
The NZDUSD pair returned to rise after leaning on the EMA50 yesterday, but it finds difficulty to breach the key resistance 0.7187, waiting to get strong positive motive that support the chances of breaching the mentioned level followed by opening the way to achieve our positive targets that begin at 0.7275.
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