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Copper price awaits the break – Analysis – 19-7-2018
Copper price failed to achieve the required break to 2.7000 support, to be forced to provide intraday sideways by leaning around 2.7525, while stochastic contradiction to the negative stability by forming intraday positive wave that supports the sideways fluctuation until providing new negative momentum to increase the chances of achieving the required break and open the way to record new negative targets that start at 2.6200 followed by 2.5500.
We assure the importance of the stability of 2.8500 level as a barrier against the current trades to decrease the chances of forming correctional bullish rally that might cause unexpected losses in the near term and medium term trading.
Expected trading range for today is between 2.8000 and 2.6200
Expected trend for today: Bearish
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Platinum prepares to the negative attack – Analysis – 19-7-2018
Platinum price has to escape to resume the negative attack, due to the factors that agree the bearish attempts, as the stability of 870.00 along with the consolidation of the moving average 55 above it confirms blocking the price within the main bearish channel.
MoreGBPJPY postpones the bullish attack – Analysis – 19-7-2018
The GBPJPY pair faced strong negative pressure recently that pushed the price to consolidate below 148.00 level, hinting postponing the bullish attack temporarily, while 148.00 forms initial resistance to expect moving towards 146.55 followed by 145.90 levels, to start renewing the bullish attempts that target more suggested positive levels in our previous report.
MoreEURJPY needs new momentum – Analysis – 19-7-2018
The EURJPY pair is affected by the contradiction between the major indicators, to lose its positive momentum as stochastic exits the overbought areas, while we expect to form some sideways trading now, noting that it is important to hold above 131.00 to confirm the continuation of the positivity for the upcoming period to target 132.20 followed by 133.10 levels.
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