Copper price resumes the decline – Analysis – 20-6-2022
Copper price still affected by the frequent negative pressures, forming new negative wave to approach 50% Fibonacci correction level at 3.9300, which formed the first main target for the bearish track.
Note that forming continuous barrier at 4.1800 and the stability of stochastic within the oversold areas will increase the chances of breaking the current obstacle in order to reach new negative stations that might start at 3.8000 and 3.6800.
The expected trading range for today is between 4.0500 and 3.9000
The expected trend for today: Bearish
The USDCHF is satisfied with the first target – Analysis - 20-06-2022
The USDCHF pair touched our first waited positive target at 0.9730 and found solid resistance there, to decline again and head to achieve negative targets that we expect to start at 0.9630 and extend to 0.9525 after breaking the previous level.
Stochastic provides negative signals that support the expected decline, which will remain valid unless the price rallied to breach 0.9730 and hold above it.
The expected trading range for today is between 0.9600 support and 0.9700 resistance.
The expected trend for today: Bearish
The NZDUSD attempts to recover – Analysis - 20-06-2022
The NZDUSD pair’s decline stop at 0.6290 level, to start bouncing bullishly and head to return to the correctional bullish track, on its way to test 0.6405 level initially, noting that breaching this level will push the price to 0.6525 areas as next main station.
Therefore, the bullish bias will be suggested for the upcoming period unless breaking 0.6290 and holding below it.
The expected trading range for today is between 0.6290 support and 0.6380 resistance
The expected trend for today: Bullish
The AUDUSD touches the negative target – Analysis - 20-06-2022
The AUDUSD pair succeeded to achieve our waited target at 0.6930 and found solid support there, to start trading positively now, to head towards achieving expected gains in the upcoming sessions, targeting 0.6995 followed by 0.7045 levels as next main stations.
Therefore, we expect to witness more rise today, supported by stochastic positivity, noting that breaking 0.6930 will stop the positive scenario and press on the price to decline again.
The expected trading range for today is between 0.6920 support and 0.7020 resistance
The expected trend for today: Bullish