Copper price didn’t move anything since yesterday’s trading, delaying the bullish rally by its repeated fluctuation below 38.2%Fibonacci correction level, which represents an intraday obstacle by its stability near $4.4000.

The continuation of stochastic attempts to provide positive momentum and the repeated stability above the critical support at $4.000, these factors make us keep the bullish suggestion, to expect the mentioned obstacle and holding above it, targeting extra positive stations that begin at $4.5600 and $4.6800.

The expected trading range for today is between $4.2300 and $4.5600

Trend forecast: Bullish

The EURUSD pair rises high in its recent intraday trading, breaching the key resistance level at 1.1200 and extending the strong gains it posted yesterday. This rise comes under the dominance of the main bullish trend and trading along a trend line. The latest rise occurred despite the emergence of negative overlapping signal from the Relative Strength Index (RSI), as it enters extreme overbought areas, showing a strong buying momentum.

The GBPUSD rose in its recent intraday trading, after it  surpassed the negative pressure of the EMA50 during yesterday’s session. This comes under the dominance of the main bullish trend, the recent rise pushed the price to attack the current resistance level at 1.3010.

noticing the emergence of negative signals from (RSI), after it reached highly overbought levels, which may temporarily decelerate the pair’s ability to breach this resistance until the overbought conditions are relieved.

The (USDJPY) pair’s price continued its decline in its recent intraday trading, breaking the key support level at 144.55. This confirms the dominance of the bearish trend, accompanied with the trading along a minor trend line on the short-term. also, there are negative signals have emerged from the Relative Strength Index (RSI), despite it reaching the oversold levels.