Copper price began today’s trading with sharp negativity, where it approached from the main bullish channel’s support at 3.9500$, then attempts to recover clearly by bounding towards 4,3800$, getting advantage from stochastic attempt to exit the oversold level as appears in the above image.

 we don't suggest positive trading unless breaching the barrier at 4,5600$, to expect renewing the negative trading in order to renew the pressure on the main support, where breaking it will confirm its move to the bearish track, 3,8100 forms the initial negative target reaching 3,6600.

The expected trading range for today is between 4,000$ and 4,5200$

Trend forecast: Bearish

The EURJPY pair confirmed its regain to the negative track by its stability below the bearish channel’s resistance at 160.90, to notice today’s opening by hitting 158.20 level, then attempt to retest the main resistance, in order to gather more of the negative momentum to confirm the continuation of the negativity in the upcoming trading.

Therefore, we keep preferring the negative attempts, to expect attacking 158.85 level, and confirming breaking this obstacle might extend the trading towards 157.35, which forms the next main target, in attempt to target 161.60 and 162.35 before reaching the extra negative stations.

The expected trading range for today is between 158.20 and 160.80

Trend forecast: Bearish

The GBPJPY pair opened today’s trading negatively, attempting to reach below the main support at 187.50, to hit 186.10, then bounces again to settle above the support again.

Note that the continuation of providing negative momentum by the main indicators will increase the chances for confirming breaking the current support, to reinforce its move to a new negative station, which allows it to target 184.90 level, reaching 50% Fibonacci correction level at 181.80, therefore, we recommend waiting for confirming the break to avoid any losses that might be caused by the price bullish correctional rebound before reaching the extra negative targets.

The expected trading range for today is between 184.90 and 189.80

Trend forecast: bearish by confirming the break

Platinum price continued to form negative trading to reach 890.00$, to begin decreasing the losses by its rebound above the support at 900.00$ level, which represents a historical support as appears in the above image, recovering some of the losses by its stability near 933.00.

Note that the price stability below the broken bullish channel’s support at 958.00$, which forms a main factor to confirm the negative scenario, therefore, we will keep waiting for gathering extra negative momentum, attempting to renew the pressure on the mentioned historical support, while breaking it will extend the losses towards 858.00$ and 880.00$. 

The expected trading range for today is between 880.00$ and 945.00$

Trend forecast: Bearish