Despite the factors that confirm the domination of the bearish bias, platinum price fluctuates slowly near 885.00, reminding you that the frequent negative stability below 925.00 forms major factor to reinforce the bearish scenario, allowing us to wait to form new negative wave to press on the initial support at 855.00.
Stochastic decline towards 20 level will increase the chances of achieving the required break, to ease the mission of recording new negative targets that might extend towards 825.00 and 790.00 levels.
The expected trading range for today is between 900.00 and 855.00
The expected trend for today: Bearish
Copper price confirmed its preparation to resume the negative attack by fluctuating near 3.5500 level, attempting to take advantage of the negative momentum, assuring the importance of breaking 50% Fibonacci correction level at 3.4900 to open the way to target new negative stations that start at 3.4100 and 3.3300.
The expected trading range for today is between 3.7000 and 3.4100
The expected trend for today: Bearish
The USDCHF pair hovers around the EMA50, keeping its stability below 0.9630, while stochastic shows new negative signals now.
Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which targets testing 0.9525 as a first station, while achieving it requires holding below 0.9630.
The expected trading range for today is between 0.9525 support and 0.9650 resistance.
The expected trend for today: Bearish
The NZDUSD pair provided positive trades yesterday but it stopped at the EMA50 that formed good resistance against the price, to decline again and test 0.6210 level, waiting for more bearish bias to head towards our next main target at 0.6100.
Therefore, we will continue to suggest the bearish trend conditioned by the price stability below 0.6270.
The expected trading range for today is between 0.6150 support and 0.6250 resistance
The expected trend for today: Bearish