Platinum renews the pressure on the barrier – Analysis – 20-1-2020
Platinum price gained additional positive momentum on last Friday after stochastic rallied towards the overbought areas, to notice forming new bullish wave to press on 1025.00 barrier.
The continuous positive pressures allow us to suggest breaching the current barrier to manage to reach the bullish channel’s resistance at 1060.00.
The expected trading range for today is between 990.00 and 1060.00
The expected trend for today: Bullish
Copper price seeks new momentum – Analysis – 20-1-2020
Copper price lost its positive momentum yesterday by stochastic decline below 50 level, to provide temporary sideways fluctuations by settling near 2.8400.
Note that the main stability above the key support 2.7000 along with the moving average 55 extension above this support confirm blocking the price within the bullish range, to keep waiting to gather new positive momentum and ease the mission of reaching the additional positive targets represented by 2.9000 and 3.0200 levels.
The expected trading range for today is between 2.8000 and 2.9000
The expected trend for today: Bullish
The GBPJPY postpones the bullish attack – Analysis – 20-1-2020
The GBPJPY pair lost its positive momentum due to stochastic decline below the overbought areas, to postpone the bullish attack by bouncing towards 143.20, noticing the price consolidation within the bullish channel until this moment, depending on the stability of the main support 142.20, allowing us to keep our bullish overview that requires jumping bove 143.80 to ease the mission of reaching the next main target at 145.60.
The expected trading range for today is between 142.80 and 144.40
The expected trend for today: Bullish
The EURJPY fluctuates within the bullish range – Analysis – 20-1-2020
The EURJPY pair reacted to stochastic negativity on last Friday, to notice forming correctional bearish rebound by touching 122.08 level, while the main stability within the bullish channel besides 121.65 level forming additional support allow us to wait to gather new positive momentum to ease the mission of reaching 123.10 level that forms the first main target.
On the other hand, facing continuous negative pressures and attempting to crawl below the mentioned additional support will increase the risks of reaching the key support at 121.15, to start threating the positive stability and allows us to stay neutral until detecting the next main trend.
The expected trading range for today is between 121.65 and 123.10
The expected trend for today: Bullish