The EURJPY attempts to decrease the losses – Analysis – 23-3-2021
The EURJPY pair attempted to decrease the intraday losses by forming bullish wave and reach 129.95, while that won’t confirm getting rid of the negative pressures, as stochastic continues to fluctuate below 50 level, in addition to forming additional barrier at 130.05 against the current trades.
Therefore, we will keep our correctional bearish overview that might target 129.10 level soon, while facing continuous negative pressures might extend trades towards 28.25 to test the bullish channel’s support line that appears on the chart.
The expected trading range for today is between 130.00 and 128.25
The expected trend for today: Bearish
The GBPJPY repeats the negative closings – Analysis – 23-3-2021
The GBPJPY pair repeated the negative closings below 151.90 to confirm surrendering to the correctional bearish bias, noticing its fluctuation below the additional support at 150.50.
Therefore, we will keep our bearish overview, expecting to gather the negative momentum and start recording the targets by moving towards 149.40 followed by 147.80, followed by monitoring its behavior due to the importance of this obstacle to detect the next main trend.
The expected trading range for today is between 151.00 and 149.40
The expected trend for today: Bearish
Platinum declines slowly – Analysis – 23-3-2021
Platinum price continued to form slow negative trades to reinforce the previously suggested correctional bearish track, reminding you that it is important to hold below 1230.00 barrier to increase the negative pressures on the price, expecting to target 1150.00 followed by reaching 38.2% Fibonacci correction level at 1105.00.
Stochastic continues fluctuation below 50 level will increase the negative pressures, allowing the price to gather new negative momentum to manage to achieve the suggested targets.
The expected trading range for today is between 1200.00 and 1150.00
The expected trend for today: Bearish
Copper price has to decline – Analysis – 23-3-2021
Copper price continued to provide slow trades recently, keeping its stability below the bullish channel’s resistance at 4.1900, while the continuous stability of this resistance will increase the chances of forming correctional bearish trades in the near term and medium term period, waiting to achieve the targets at 3.9500 and 3.8810.
On the other hand, rallying to breach the current resistance and holding above it will confirm moving to new bullish track to ease the mission of recording new positive targets that start at 4.4100.
The expected trading range for today is between 4.1400 and 3.8810
The expected trend for today: Bearish