Platinum achieves the first main target – Analysis – 16-1-2020
Platinum price formed strong bullish wave yesterday to notice touching the first main target at 1025.00 and face 23.6% Fibonacci correction level, while the price stability within the bullish channel besides stochastic additional positive momentum signals by settling within the oversold areas in addition to 990.00 level forming additional support allow us to expect resuming the bullish attack until touching the bullish channel’s resistance at 1055.60.
The expected trading range for today is between 990.00 and 1055.00
The expected trend for today: Bullish
The GBPJPY gathers its strengths – Analysis – 16-1-2020
The GBPJPY pair continued to form clear positive fluctuation due to its consolidation within the bullish channel, to approach 143.80 barrier, also, stochastic crawl towards the overbought areas allows us to wait to breach this barrier to manage to record more positive targets that might start at 144.30 and 145.60 levels.
The expected trading range for today is between 142.80 and 144.30
The expected trend for today: Bullish
The EURJPY provides new positive momentum – Analysis – 16-1-2020
The EURJPY pair provided new positive close yesterday above 122.45 barrier, to increase the chances of resuming the previously expected bullish attack, as gathering new positive momentum will confirm moving to 123.25 level, to form the first positive target followed by attempting to reach 124.25 in the upcoming period.
We remind you that attempting to provide negative close below the additional support at 122.30 will postpone the bullish attack to start forming correctional bearish trades that might push the price to test the bullish channel’s support line at 121.15.
The expected trading range for today is between 122.30 and 123.25
The expected trend for today: Bullish
IBEX index declines temporarily – Analysis – 16-1-2020
IBEX index faced frequent negative pressures to crawl below the additional support 9530.00, forming correctional bearish trades by reaching 9473.20.
Stochastic decline towards 20 level allows us to expect gathering new negative momentum to increase the chances of targeting new negative correctional levels that might start at 9425.00 followed by reaching the main bullish channel’s support line at 9375.00.
The expected trading range for today is between 9530.00 and 9425.00
The expected trend for today: Bearish