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Platinum price needs new negative momentum – Analysis – 5-9-2022
Despite platinum price continuous fluctuation below 855.00 recently, we notice the slow trades due to stochastic positivity that contradicts the negative stability, to fluctuate near 830.00.
These factors allow us to wait to gather the additional negative momentum to ease the mission of confirming breaking 825.00 level to open the way to target the negative stations by moving towards 795.00 followed by reaching 745.00 in the medium term period.
The expected trading range for today is between 850.00 and 810.00
The expected trend for today: Bearish
Copper price is affected by the indicators’ negativity – Analysis – 5-9-2022
Copper price surrendered to the negativity of the major indicators, providing new negative close below 3.5000, confirming postponing the bullish attack to continue forming correctional bearish waves now.
We remind you that the first negative target is located near 3.3000, while facing continuous negative pressures might push the price to renew the negative attempts in order to reach the key support 3.1200, followed by monitoring the price behavior to manage to detect the next main trend.
The expected trading range for today is between 3.5000 and 3.3000
The expected trend for today: Bearish
The USDCHF attempts to recover – Analysis - 05-09-2022
The USDCHF pair returns to rise after approaching the bullish channel’s support line that appears on the chart, to hint heading to resume the main bullish wave within the mentioned channel, and the price needs to breach 0.9860 to confirm rallying towards 1.0000 areas as a next main station.
Therefore, we expect to witness positive trades in the upcoming sessions unless breaking 0.9765 and holding below it.
The expected trading range for today is between 0.9780 support and 0.9900 resistance.
The expected trend for today: Bullish
The NZDUSD tests the resistance – Analysis - 05-09-2022
The NZDUSD pair tested the bearish channel’s resistance that appears on the chart and bounced bearishly from there, to keep the bearish trend scenario active until now, waiting to break 0.6060 to open the way to head towards 0.6000 as a next negative target.
Note that breaching 0.6110 will stop the expected decline and lead the price to start new recovery attempts on the intraday basis.
The expected trading range for today is between 0.6010 support and 0.6110 resistance
The expected trend for today: Bearish