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The CHFJPY settles within the bullish track – Analysis – 31-5-2022
The CHFJPY kept the stability within the bullish channel’s levels, to get advantage from the strength of the support that is located at 132.00 by forming a bullish rally, hitting 133.55 level, note that the continuation of providing positive momentum by stochastic stability within the overbought level makes us suggest more of the upside moves in the current period, to attempt achieving more of the gains by reaching 134.10 then to the extra barrier near 134.80.
The expected trading range for today is between 132.85 and 134.00
The expected trend for today: Bullish by the stability of the support
Wheat price is satisfied with the first target – Analysis - 31-05-2022
Wheat price touched the bearish channel’s resistance that appears on the chart and bounced bearishly from there, to resume the bearish track and head towards testing 1114.00 initially, noting that moving within the mentioned channel supports the chances of surpassing this level and open the way to achieve additional negative targets that reach 1075.00 followed by 1043.30.
Therefore, the bearish bias will be expected for the upcoming period conditioned by the price stability below 1160.00.
The expected trading range for today is between 1100.00 support and 1155.00 resistance.
The expected trend for today: Bearish
Sugar price tests the resistance – Analysis - 31-05-2022
Sugar price settles near 19.72 level and still below it, accompanied by stochastic loss to the positive momentum, waiting to resume the bearish trend that targets 19.16 level initially.
Breaking 19.47 will ease the mission of achieving the expected decline, noting that the continuation of the bearish wave depends on the price stability below 19.72.
The expected trading range for today is between 19.20 support and 19.90 resistance
The expected trend for today: Bearish
Soybean price gets positive motive – Analysis - 31-05-2022
Soybean price provided slight negative trades in the previous sessions and returns to rise by today’s open, motivated by the positive overlapping signal that appears clearly now, waiting for more rise to achieve our expected targets that start at 1680.00 followed by 1700.00.
Holding above 1621.50 is important to continue the expected bullish trend, as breaking it will put the price under the correctional bearish pressure again.
The expected trading range for today is between 1621.00 support and 1680.00 resistance.
The expected trend for today: Bullish