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Platinum price surrenders to the resistance stability – Analysis – 3-8-2022
Platinum price renewed the sideways trades, affected by the stability of 925.00 resistance line, to decrease the chances of resuming the correctional bullish rally and rebound towards 900.00.
Also, stochastic begins to provide the negative momentum by exiting the overbought areas, which might assist to activate the negative track for now, expecting to suffer some losses by reaching 875.00 and 855.00 levels.
The expected trading range for today is between 925.00 and 855.00
The expected trend for today: Bearish
Copper price gets the positive momentum – Analysis – 3-8-2022
Copper price succeeded to keep the correctional bullish track by gathering the positive momentum to continue fluctuating above the main support at 3.1300, to notice renewing the chances of holding above 50% Fibonacci correction level at 3.5000.
These factors allow us to continue suggesting the bullish attempts that might target 3.6300 initially, while surpassing this obstacle might extend trades towards 3.8500 as a next main target for the bullish bias.
The expected trading range for today is between 3.3500 and 3.6300
The expected trend for today: Bullish
The USDCHF achieves intraday gains – Analysis - 03-08-2022
The USDCHF pair provided clear positive trades yesterday to breach 0.9530, but it faces solid resistance formed by the EMA50 at 0.9585, to force the price to rebound bearishly by today’s open, accompanied by witnessing clear negative signals through stochastic now.
Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, and the targets begin by breaking 0.9530 again to reinforce the chances of continuing the negative scenario that its next target reaches 0.9400, noting that the continuation of the bullish wave requires holding below 0.9585 and the most important below 0.9630.
The expected trading range for today is between 0.9480 support and 0.9600 resistance.
The expected trend for today: Bearish
The NZDUSD surpasses the negative target – Analysis - 03-08-2022
The NZDUSD pair achieved more decline yesterday to surpass the suggested negative target at 0.6257 and settles below it, but it begins today with clear positivity to hint the attempt to regain the correctional bullish trend, to stay aside until the price confirms its situation according to the mentioned level, which represents the next trend key.
Note that breaching 0.6257 will push the price to resume the bullish wave and achieve gains that start at 0.6320 extend to 0.6380, while failing to breach it will put the price under additional negative pressure that targets 0.6180 areas initially.
The expected trading range for today is between 0.6180 support and 0.6310 resistance
The expected trend for today: Neutral