The EURJPY pair surrendered to the dominance of the suggested bearish correction bias, due to its stability below 173.50, reaching the initial negative target by hitting 172.13 level.
We will keep preferring the bearish correctional scenario, depending on the stability of the current barrier, besides stochastic attempts to provide negative momentum, to increase the chances for reaching 171.60 followed by the extra support at 170.45.
The expected trading range for today is between 171.60 and 173.10
Trend forecast: Bearish
Despite the attempts of the main indicators to provide positive momentum but the stability of the GBPJPY pair below the barrier at 200.40 obstacle the chances for resuming the bullish attack, which forces it to provide sideways trading, activating the expected bearish correctional track.
While gathering the negative momentum will make the price begin targeting the negative stations by its decline to 198.60, then attempts to press on the initial support at 197.85, while the price success in breaching the barrier and holding above it will turn the bullish scenario to begin achieving clear gains by its rally to 200.90 and 201.55.
The expected trading range for today is between 198.65 and 200.30
Trend forecast: Bearish
Platinum price lost its positive momentum, to force it to form temporary correctional decline, to repeat testing the extra support at $1355.00, rising again to $1382.00 as appears in the above image.
Providing positive momentum by the main indicators will increase the efficiency of the bullish track, to ease the mission of breaching the barrier at $1400.00, opening the way for recording extra gains might extend to $1412.00 and $1435.00.
The expected trading range for today is between $1370.00 and $1412.00
Trend forecast: Bullish
Copper prices have moved slowly since the last session due to the contradiction between the main indicators, but its main stability within the bullish channel’s levels by the stability of the main support at $4.0900 helps it to activate the bullish attack.
The stability of the moving average 55 above the extra support at $4.2600 helps it to provide positive momentum, to keep waiting for surpassing $4.6200 level, targeting the next station by reaching $4.7500 and $4.9400.
The expected trading range for today is between $4.4200 and $4.7500
Trend forecast: Bullish