Copper price opened this morning with a positive price gap, announcing its affection by strong positive pressure to reach 61%Fibonacci correction level at $4.8100, which formed an important strong barrier against the bullish trading.

Note that the continuation of providing positive momentum by the main indicators might assist to breach the current barrier, to expect reaching the previously achieved top near $4.8900, and surpassing it will confirm moving to a new positive station, and $5.0350 level represents the next main target in the bullish trading.

The expected trading range for today is between $4.7600 and $4.8900

Trend forecast: Bullish

The (GBPUSD) price settled high in its last intraday trading, with the stability of the critical support at 1.3440, which provided some positive momentum , accompanied with the beginning of the positive signals on the (RSI), after reaching oversold levels, amid the dominance of the main bullish trend and its trading alongside a minor bias line on the short-term basis, which makes the price attempt to get rid of the negative pressure of the EMA50, to reinforce the positive scenario.

The (USDJPY) price settled on the downside in its last intraday trading, surpassing the support of its EMA50, forming extra negative pressure, especially with the return of the negative signals emergence of the (RSI), after it succeeded in offloading its oversold conditions, providing bigger space for recording more of the downside moves, amid the dominance of a strong minor bearish wave on the short-term basis.

The (USDCAD) price kept declining in its last intraday trading, amid the dominance of the main bearish trend and its trading alongside a minor bias line on the short-term basis, with the continuation of the negative pressure that comes from its trading below its EMA50, approaching from breaking the critical support level at 1.3690, especially with the emergence of the negative signals on the (RSI).