Gold price still stuck between the trend confirmation levels represented by 1725.90 support and 1743.00 resistance, thus, we will continue with our neutrality until confirming breaching one of these levels, reminding you that breaking the support will put the price under negative pressure that targets 1691.10 level mainly, while breaching the resistance will reactivate the main bullish trend scenario that its next main target located at 1810.00.
The EURUSD pair continues to decline to surpass the EMA50 and settles below it, reinforcing the expectations of continuing the bearish trend in the upcoming period, and the way is open to achieve our main waited target at 1.0840, reminding you that it is important to hold below 1.0966 to continue the suggested decline.
Wheat price trades with clear negativity to approach our waited target at 503.70, to keep the bearish trend active for today, noting that breaking the mentioned level will extend the bearish wave to reach 483.20 on the near term basis, while the expected decline will remain valid unless the price rallied to breach 520.30 and hold above it.
The expected trading range for today is between 500.00 support and 525.00 resistance.
The expected trend for today: Bearish
Sugar price shows more decline to approach retesting the breached neckline of the inverted head and shoulders’ pattern, noting that the EMA50 forms positive support to the price, waiting to push the price to resume the correctional bullish trend that targets 11.45 as a next station, noting that breaking 10.60 and holding below it will stop the positive scenario and press on the price to resume the main bearish trend.
The expected trading range for today is between 10.60 support and 11.45 resistance
The expected trend for today: Bullish