The EURJPY achieves the negative targets – Analysis – 22-10-2020
The EURJPY pair surrendered to the stability of 125.00 barrier yesterday, to notice forming negative rebound and recording the temporary negative targets by reaching 123.90.
We expect forming mixed trades in the upcoming period, due to the price move between strong levels represented by 125.00 resistance and 123.25 support, thus, we recommend staying neutral and wait to surpass one of the mentioned levels to manage to detect the next main trend.
The expected trading range for today is between 125.05 and 123.30
The expected trend for today: Neutral
The GBPJPY jumps above the resistance – Analysis – 22-10-2020
The GBPJPY pair rallied upwards strongly to notice breaching the minor bullish channel’s resistance at 137.30 today, to confirm moving into the bullish track and allows us to start suggesting the bullish attempts.
Stochastic reach to the overbought areas supports the current positive overview, due to providing new positive momentum, to expect targeting 138.22 followed by reaching the key resistance at 139.60.
The expected trading range for today is between 137.30 and 138.22
The expected trend for today: Bullish
Platinum attacks the moving average – Analysis – 22-10-2020
Platinum price begins forming positive waves, taking advantage of the frequent positive stability above the bullish channel’s support line at 842.00, noticing reaching the moving average 55 by recording 894.00.
Note that stochastic reach to 80 level will provide the price with new positive momentum, to manage to resume the suggested positivity and wait to reach 920.00 soon, while surpassing this obstacle will push the price for new targets that might extend to 980.00 and 1052.00.
The expected trading range for today is between 850.00 and 920.00
The expected trend for today: Bullish
Copper price holds above the support – Analysis – 22-10-2020
Copper price still stable above the bullish channel’s support line at 2.1300 until this morning, to notice recording the first target by reaching 3.2160 followed by bouncing negatively affected by stochastic negativity that moves below 50 level.
In general, the frequent stability above the mentioned support will increase the chances of renewing the bullish attempts, to expect rallying towards 3.2200 followed by 3.3100 levels, while crawling below the support will cancel the positive overview and force the price to suffer big losses that might extend to 3.0800 and 2.9800 levels.
The expected trading range for today is between 3.1350 and 3.2200
The expected trend for today: Bullish