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Platinum keeps the positivity – Analysis – 22-1-2018
Platinum price resisted the negative pressures recently by showing clear stability around 1010.00 level, to confirm keeping the expected bullish bias domination, noticing its approach from the previously recorded top at 1020.00, noting that breaching this level will allow the price to achieve more targets in the near term and medium term period by rallying towards 1040.00 followed by 1085.00 levels.
Stochastic provides new positive momentum now by settling within the overbought areas again, to confirm getting rid of the sideways fluctuation and start achieving the previously suggested targets conditioned by holding above 980.00 support.
Expected trading range for today is between 980.00 and 1040.00
Expected trend for today: Bullish
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GBPJPY is slow – Analysis – 22-1-2018
The GBPJPY pair was forced to provide slow sideways trading recently despite its consolidation within the bullish channel, affected by stochastic exit from the overbought areas, which confirms the domination of the sideways bias for the near term period until gathering new positive momentum followed by repeating the attempts to reach the next positive target at 155.90.
MoreEURJPY is weak – Analysis – 22-1-2018
The EURJPY pair did not take advantage of the positive factors caused by its consolidation within the bullish channel, to surrender to stochastic negativity that settles below 50 level now, noticing that price fluctuation below 135.50 level to increase the chances of forming negative rebound and attempt to test the bullish channel’s support line at 133.80.
MoreEURAUD prepares to decline – Analysis – 22-1-2018
The EURAUD pair ended its positive rebound by testing the bearish channel’s resistance around 1.5425, noticing its crawl below the moving average 55, while the continuation of the current resistance line stability confirms the price preparation to build strong negative attack, expecting to target 1.5210 level first, and the continuous negative pressures might push the price to reach the main support at 1.5070.
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