Copper price repeats the positive closes– Forecast today – 8-8-2025
AI Summary
- Copper price is showing positive stability within bullish channel
- Main support at $4.0500, breaking it could lead to big losses
- Expected trading range for today is between $4.2600 and $4.6300, with a bullish trend forecast
Despite the weakness of copper price’s last trading and its repeated fluctuation near the moving average 55 at $4.4000 level, the overall positive stability within the bullish channel’s levels and by the stability of the extra support near $4.2600, these factors support our bullish suggestion, to keep gathering extra positive momentum, then begin targeting positive stations by $4.6300 and $4.7500.
The risk of changing the main trend by breaking the main support at $4.0500, which forces it to suffer big losses by reaching $3.8700.
The expected trading range for today is between $4.2600 and $4.6300
Trend forecast: Bullish
The CADCHF begins to rise– Forecast today – 8-8-2025
The CADCHF price confirmed surpassing the negative pressure by providing several positive closes above the support of 0.5775 level recently, activating with stochastic positivity and its rally to 0.5885, approaching the initial barrier at 0.5910.
Stochastic rally above 50 level makes us expect to breach the mentioned barrier, to resume the bullish attack by reaching 0.5965 followed by the next resistance at 0.6022.
The expected trading range for today is between 0.5830 and 0.5965
Trend forecast: Bullish
The EURJPY needs a new confirmation– Forecast today – 8-8-2025
Despite the stability of the EURJPY pair above 170.45 level, the repeated fluctuation below the extra barrier at172.00 decelerates the chances of achieving new gains until this moment, reaching its fluctuation in sideways range near 171.85.
The price might be forced to provide sideways trading, but the continuation of providing positive momentum by the main indicators will reinforce the chances of surpassing the mentioned obstacle, opening the way for achieving clear gains by its rally to 172.65 and 173.80.
The expected trading range for today is between 171.20 and 172.65
Trend forecast: Bullish
The GBPJPY achieves some targets– Forecast today – 8-8-2025
The GBPJPY pair continued forming bullish waves, achieving a clear breach to %61.8 Fibonacci correction level at 197.45, surpassing the moving average 55 and achieving some extra targets by reaching 198.15.
Forming extra support at 197.45 level and providing extra positive momentum by the main indicators makes us expect forming bullish attempts to target 198.85 level, and surpassing it might extend the trading towards 199.55 which formed a strong obstacle against the bullish attack.
The expected trading range for today is between 197.50 and 199.20
Trend forecast: Bullish