Platinum price fluctuates near the support – Analysis – 20-6-2022
Platinum price formed temporary negative rebound on last Friday to press on the key support 920.00, in order to find a way to exit the recently dominating sideways track.
Note that the continuous contradiction between the major indicators allows us to continue neutral and wait to surpass one of the major levels represented by the current support and 970.00 resistance to manage to detect the next main targets.
The expected trading range for today is between 920.00 and 970.00
The expected trend for today: Neutral
Copper price resumes the decline – Analysis – 20-6-2022
Copper price still affected by the frequent negative pressures, forming new negative wave to approach 50% Fibonacci correction level at 3.9300, which formed the first main target for the bearish track.
Note that forming continuous barrier at 4.1800 and the stability of stochastic within the oversold areas will increase the chances of breaking the current obstacle in order to reach new negative stations that might start at 3.8000 and 3.6800.
The expected trading range for today is between 4.0500 and 3.9000
The expected trend for today: Bearish
The USDCHF is satisfied with the first target – Analysis - 20-06-2022
The USDCHF pair touched our first waited positive target at 0.9730 and found solid resistance there, to decline again and head to achieve negative targets that we expect to start at 0.9630 and extend to 0.9525 after breaking the previous level.
Stochastic provides negative signals that support the expected decline, which will remain valid unless the price rallied to breach 0.9730 and hold above it.
The expected trading range for today is between 0.9600 support and 0.9700 resistance.
The expected trend for today: Bearish
The NZDUSD attempts to recover – Analysis - 20-06-2022
The NZDUSD pair’s decline stop at 0.6290 level, to start bouncing bullishly and head to return to the correctional bullish track, on its way to test 0.6405 level initially, noting that breaching this level will push the price to 0.6525 areas as next main station.
Therefore, the bullish bias will be suggested for the upcoming period unless breaking 0.6290 and holding below it.
The expected trading range for today is between 0.6290 support and 0.6380 resistance
The expected trend for today: Bullish