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Platinum price surrenders to the moving average positivity – Analysis – 7-10-2022
Platinum price repeated providing positive trading, noticing repeating the pressure on 930.00 level in order to resume the suggested bullish correctional attempts, the current positivity is caused by the stability of the moving average 55 near 905.00, to form an extra support against the current trading, to wait for attempting to test the bearish channel’s resistance at 955.00.
Note that the price success to reach below the mentioned support and providing negative close, so that will open the way towards forming strong bearish wave, to expect targeting 880.00 and 855.00 level.
The expected trading range for today is between 915.00 and 956.00
The expected trend for today: Bullish
Copper price forms flag pattern– Analysis – 7-10-2022
Copper price kept its stability below the barrier at 3.6000, attempting to form the flag pattern that assists to resume the main bearish track in the upcoming period trading, which explains the fast decline towards 3.4000, to expect gaining extra negative momentum, continuing providing negative trading, to press on the support at 3.2450 and we wait for achieving the required break to confirm its readiness to achieve new negative targets in the upcoming period.
The expected trading range for today is between 3.5200 and 3.2450
The expected trend for today: Bearish
Midday update for the NZDUSD 07-10-2022
The NZDUSD pair settles below 0.5705, to keep the bearish trend scenario active for today, supported by the EMA50 that presses negatively on the price, waiting to resume the bearish wave that targets testing 0.5600 followed by 0.5564 levels mainly, reminding you that it is important to hold below 0.5705 to continue the expected decline.
The expected trading range for today is between 0.5600 support and 0.5720 resistance
The expected trend for today: Bearish
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Midday update for the AUDUSD 07-10-2022
The AUDUSD pair shows some slight bullish bias now, affected by stochastic positivity, while the EMA50 forms negative pressure against the price, to keep our bearish overview as long as 0.6545 level remains intact, reminding you that our targets begin at 0.6362 and extend to 0.6300 after breaking the previous level.
The expected trading range for today is between 0.6360 support and 0.6475 resistance
The expected trend for today: Bearish
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