The EURJPY achieves the targets – Analysis – 5-8-2019
The EURJPY pair continued forming a strong negative trading, to notice its reach to the main bearish channel’s support, recording the main target at 117.70, due to the importance of the current level when detecting the main trend, we recommend staying aside for today, and wait for the next daily close to detect the main targets in the upcoming period.
While the stability of the price above the current support confirms the beginning of forming a bullish correctional trading, to target 118.90 and 120.00 level, while breaking the support will confirm its move to a new negative track to force it to suffer new losses by reaching 116.60 and 114.85.
The expected trading range for today is between 117.30 and 118.90
The expected trend for today: Neutral
Copper price confirms changing the main track– Analysis – 5-8-2019
Copper price confirmed changing the main track by providing a new negative close below the broken bullish channel’s support, reinforcing the bearish bias domination in the upcoming trading, the repeated stability below 2.6200 level makes us prefer more of the downside moves and surpassing 2.5500 level, then reaching to the next negative target at 2.4660, to press on 38.2% Fibonacci correction level.
Stochastic sharp decline and its fluctuation within the oversold level supports our negative expectation by providing a strong negative momentum, to ease the attempt of reaching the mentioned next negative target.
The expected trading range for today is between 2.5940 and 2.4660
The expected trend for today: Bearish
Platinum must renew the negative fluctuation – Analysis – 5-8-2019
In spite of the slowness on Platinum price recently, but its surrender to the strength of the resistance that is located at 875.00 increases the chances for forming a new negative trading in the near and medium period.
Stochastic surpass to the overbought level and the stability of the moving average 55 near the main resistance form supported factors for the bearish bias domination, to keep waiting for breaking 840.00 level then press on the extra support that reach to 795.00.
The expected trading range for today is between 875.00 and 800.00
The expected trend for today: Bearish
The GBPJPY paves the way for a new decline – Analysis – 5-8-2019
The GBPJPY pair confirmed its readiness to resume the main bearish attack by providing a new negative close below 129.90 level, to form an extra barrier against the negative trading, we expect surpassing 128.25 to head directly to the next support at 126.50 level, which forms the waited target for the near and medium trading.
The continuation of stochastic fluctuation within the oversold level reinforces the bearish scenario by validating an extra negative momentum, to ease the price mission to record the suggested extra negative targets.
The expected trading range for today is between 130.00 and 126.50
The expected trend for today: Bearish