The EURJPY faces solid resistance – Analysis – 31-3-2023
The EURJPY pair reacted to the major indicators’ positivity, forming new bullish rally to face strong resistance at 145.65, to form solid obstacle against the attempt to move to the bullish track, noticing its rebound towards 144.85 now.
The upcoming scenario depends on the strength of the mentioned resistance, as its stability allows us to expect the beginning of forming negative waves that might push the price to decline towards 144.00 and 143.45 levels, while succeeding to surpass 145.65 resistance will confirm moving to the bullish track, to start targeting more positive stations, and 146.25 will form the first target for the bullish track.
The expected trading range for today is between 145.65 and 144.00
The expected trend for today: Bearish
The GBPJPY provides positive signal – Analysis – 31-3-2023
The GBPJPY pair surpassed the bearish channel’s resistance yesterday at 164.10, achieving additional gains by reaching 165.45 level followed by turning to fluctuate near 164.50, while confirming the positivity requires getting new positive close above the breached resistance, to manage to renew the bullish attempts and target 166.00 followed by reaching the additional barrier at 166.70.
On the other hand, turning back to fluctuate below 164.00 will cancel the bullish attempts to form strong negative waves and suffer many losses by crawling towards 163.20 level, followed by reaching the MA55 at 162.05.
The expected trading range for today is between 164.00 and 164.50
The expected trend for today: Bullish
Platinum price gathers its strength – Analysis – 31-3-2023
Platinum price failed to reach 1005.00 barrier, to fluctuate near the MA55 again at 980.00 again, attempting to gather more required positive momentum to resume the bullish attack in the upcoming period.
We remind you that the bullish scenario will remain valid as long as 950.0 support line remains intact, while succeeding to breach the mentioned barrier will open the way to achieve many gains, to expect moving towards 1040.00 and 1072.00 levels initially.
The expected trading range for today is between 960.00 and 1005.00
The expected trend for today: Bullish
No news for copper price – Analysis – 31-3-2023
Copper price didn’t move until this moment, to continue facing stochastic negativity in order to keep its consolidation within the bullish track that depends on the stability of 4.0200 support line.
The sideways trades might continue until the price succeeds to gather the positive momentum to assist to activate the bullish track and start recording the targets by rallying towards 4.2200 followed by attempting to reach 23.6% Fibonacci correction level at 4.3000.
The expected trading range for today is between 4.0500 and 4.2200
The expected trend for today: Bullish