Gold price touched the correctional bearish channel’s resistance, and we need to monitor the price behavior now, as failing to breach this level will push the price to resume the correctional bearish trend, while breaching it will allow the price to achieve additional intraday gains that reach 1489.00 before any new attempt to decline.

The EURUSD pair traded positively to test 1.1030 level that was broken previously, and the EMA50 forms negative pressure that we are waiting to push the price to resume the expected bearish trend for the upcoming period, which its next target located at 1.0950, while achieving it conditions holding below 1.1065.

Wheat price shows slight bullish bias on its way for potential test to 514.00 level, noticing that stochastic continues to provide the negative signals on the four hours’ time frame, which supports the expectations of continuing the bearish trend in the upcoming period, which its next target located at 501.77, while achieving it conditions holding below 514.00.

The expected trading range for today is between 500.00 support and 514.00 resistance.

The expected trend for today: Bearish

Sugar price opens today’s trading with bearish bias on its way to visit 23.6% Fibonacci correction level at 12.70, to keep the bearish trend valid for today, supported by stochastic negativity, noting that surpassing the mentioned level will extend the bearish wave to reach 12.57 followed by 12.47 levels, while the expected decline will remain active unless the price rallied to breach 12.90 level and hold above it.

The expected trading range for today is between 12.57 support and 13.00 resistance

The expected trend for today: Bearish