The EURJPY fluctuates below the barrier – Analysis – 5-8-2022
Despite the EURJPY pair’s consolidation within the bullish channel, and getting the positive momentum by the major indicators, we notice the weak trades yesterday due to the stability of the additional barrier at 136.65.
Note that we are waiting to breach the mentioned barrier to assist to reinforce the domination of the bullish bias to target 137.60 followed by reaching 138.55 level that forms the next station of the bullish bias.
The expected trading range for today is between 135.60 and 136.60
The expected trend for today: Sideways
The GBPJPY gets the positive momentum – Analysis – 5-8-2022
The GBPJPY pair kept its stability near the moving average 55 yesterday, represented by 161.70 level, to increase the chances of gaining the required positive momentum to resume the bullish attack.
Also, stochastic approach to 50 level will assist to activate the bullish track, to expect moving towards 162.60 followed by repeating the pressure on 163.40 obstacle in order to find a way to resume the bullish attempts in the upcoming period.
The expected trading range for today is between 161.50 and 163.45
The expected trend for today: Bullish
Platinum price renews the positive action – Analysis – 5-8-2022
Platinum price returned to form new bullish waves to surpass 925.00 barrier and provide positive signal to manage to resume the correctional bullish attack by reaching 940.00.
The continuous stability above the breached barrier and stochastic additional positive momentum allow us to suggest more rise, expecting to attack 955.00 level, and attacking this level might extend trades towards 980.00.
The expected trading range for today is between 920.00 and 980.00
The expected trend for today: Bullish
Copper price takes advantage of stochastic positivity – Analysis – 5-8-2022
Copper price resisted the negative pressures recently to keep the positive stability within the correctional bullish track, to consolidate above 3.3500 and take advantage of stochastic positivity to rally towards 3.5200.
The continuous positive momentum will reinforce the chances of resuming the correctional bullish attack, to keep waiting to achieve the targets near 3.6300 followed by reaching 38.2% Fibonacci correction level at 3.8500.
The expected trading range for today is between 3.4500 and 3.6300
The expected trend for today: Bullish