Platinum price provided a new negative close below the barrier at $983.00 level, announcing its surrender to the suggested bearish scenario, by reaching below the moving average 55 and its stability near $956.00, recording the initial suggested negative targets.

Providing negative momentum by stochastic will increase the chances for attacking obstacle at $950.00, and breaking it is important for opening the way towards the extra stations that might begin at $938.00 and $929.00.

The expected trading range for today is between $938.00 and $975.00

Trend forecast: Bearish

Copper price activated the negative attack, achieving some of the negative targets by hitting $4.4560, to bounce to settle near the moving average 55 at the $4.5600 level, attempting to gather more of the negative momentum in the current period trading.

Forming extra barrier at 50% Fibonacci correction level at $4.6600, increasing the chances for resuming the negative scenario, to repeat the pressure on $4.4500 level, and breaking it might extend the losses towards $4.3100, to form the next main target for the negative trading.

The expected trading range for today is between $4.3100 and $4.6100

Trend forecast: Bearish

The GBPUSD declined in its recent intraday trading, with the emergence of the negative signals on the (RSI), which caused the loss of the previous positive momentum, and that led it to break a minor bullish bias line that represents a dynamic support for the price of recent trading.

The pressure increased with surpassing the support of EMA50, which is considered as an extra confirmation for the weakness of the previous bullish trend, and the price move to a clear correctional station that threatens for more downside moves, especially after losing technical support that might limit the negative momentum.

Therefore, our expectations suggest more of the downside movement for the GBPUSD price in its upcoming intraday trading, if the price settles below 1.3345, to target the critical support at 1.3230.

The expected trading range is between 1.3270 support and 1.3365 resistance.

Today’s forecast: Bearish

The USDJPY price rose in its recent intraday trading, amid the domination of the bullish correctional trend on the short- term basis and its trading alongside bias line, which shows the strength of this wave until this moment, with the continuation of the positive pressure due to its trading above EMA50, adding more of the positive momentum on the current bullish trend, on the other hand, we notice the beginning of the negative signals emergence of the (RSI), after entering overbought levels, which decreased the last gains of the pair.

Therefore, our expectations suggest more of the correctional rise for the USDJPY price in its upcoming intraday trading, if the support level settles at 142.25, to target the critical resistance at 144.00.

The expected trading range is between 142.25 support and 144.00 resistance.

Today’s forecast: Bullish