The EURJPY exits the bearish track – Analysis – 11-10-2021
The EURJPY price succeeded to get rid of the domination of the bearish bias by forming strong bullish rally recently, to breach the bearish channel’s resistance near 129.50 and notice recording big targets by reaching 130.42.
We expect the moving average 55 to form the additional support near 129.80, and get more positive momentum signals by stochastic, allowing us to suggest targeting 23.6% Fibonacci correction level at 130.90.
The expected trading range for today is between 129.60 and 130.90
The expected trend for today: Bullish
The GBPJPY resumes the rise – Analysis – 11-10-2021
The GBPJPY pair confirmed surpassing 152.10 barrier to notice resuming the bullish attack since last Friday, achieving many positive targets and settling near 153.55.
Stochastic continuous positive momentum signals will increase the chances of resuming the bullish attack, to expect moving towards 154.20 followed by attempting to press on the previously recorded top at 155.90.
The expected trading range for today is between 152.55 and 154.20
The expected trend for today: Bullish
Platinum touches the first main target – Analysis – 11-10-2021
Platinum price formed strong bullish rally on last Friday due to the stability above the breached resistance at 983.00, to notice recording big targets by reaching 38.2% Fibonacci correction level at 1040.00.
We expect the price to be dominated by the sideways range until breaching this barrier, to push it to fluctuate within tight track represented by 1005.00 and the mentioned barrier, while achieving the required breach will ease the mission of reaching new positive stations that might start at 1075.00.
The expected trading range for today is between 1005.00 and 1040.00
The expected trend for today: Bullish
Copper price postpones the decline – Analysis – 11-10-2021
Copper price faced new positive pressures recently, due to stochastic rally above 50 level, to push the price to postpone the negative attack and hold above the moving average 55, which might push the price to form temporary bullish rebound and test 4.3600 barrier before achieving any new negative target.
On the other hand, crawling below 4.1500 will confirm the preparation to resume the negative attack, to expect moving towards the negative targets at 4.0500 and 3.8800.
The expected trading range for today is between 4.2000 and 4.3600
The expected trend for today: Bullish temporarily