The EURJPY approaches the second target – Analysis – 2-8-2019
The EURJPY pair ended its silence yesterday to notice forming strong negative attack and reinforce the domination of the bearish bias, noticing its approach to the second target at 117.75, noting that the continuous of facing the negative pressures might push the price to surpass the waited target to move into new negative track and increase the chances of reaching 116.60 level, followed by attempting to test the main support at 114.90.
On the other hand, the positive stability of trading above 118.40 will force the price to renew the correctional bullish attempts with chances of rallying towards 120.00 before achieving any new negative target.
The expected trading range for today is between 119.30 and 117.75
The expected trend for today: Bearish
Copper price threats the positive stability – Analysis – 2-8-2019
Copper price surrendered to the negative pressures to notice crawling below the bullish channel’s support line at 2.6200, attempting to start forming negative trades, while in case gathering new negative momentum and getting negative close below this support will start suggesting the negative domination that might target 2.5300 followed by 2.4400 levels in the upcoming period.
The expected trading range for today is between 2.6420 and 2.5750
The expected trend for today: Bearish
Platinum needs new momentum – Analysis – 2-8-2019
Platinum price did not succeed to record the main negative targets due to the lack of the negative momentum, to provide intraday sideways trades by settling around 850.00, expecting to gather additional momentum and getting negative close below 840.00 to target 790.00, and breaking this support will confirm moving to the next target at 749.00.
Stochastic stability below 80 level besides the consolidation of the moving average 55 above the current trades will reinforce the negative overview to increase the chances of gathering the required negative momentum to achieve the waited targets.
The expected trading range for today is between 865.00 and 790.00
The expected trend for today: Bearish
The GBPJPY continues to record the negative targets – Analysis – 2-8-2019
The GBPJPY pair resumed its negative attack to notice reaching 130.00 target recently, attempting to settle below it to resume the negative attack soon, while 130.00 level forms new resistance to allows us to suggest reaching 128.25 followed by 126.50 levels.
The stability of stochastic within the oversold areas supports the continuation of the negativity for now by providing new negative momentum and increases the chances of recording the mentioned targets.
The expected trading range for today is between 130.00 and 128.25
The expected trend for today: Bearish