The EURJPY hits the target – Analysis – 3-8-2022
The EURJPY pair succeeded to reach the additional negative target at 133.50, to form solid obstacle against the negative attempts and rebounds positively towards 136.05, expecting to form mixed trades now in order to reinforce the chances of gaining the positive momentum and cover more suffered losses to target 136.65 that formed additional barrier recently against the negative trades.
Note that succeeding to breach 136.65 and getting positive closings above it will assist to activate the bullish track again, to expect forming strong bullish rally and reach towards 138.20 initially.
The expected trading range for today is between 134.65 and 136.65
The expected trend for today: Bullish
The GBPJPY covers some losses – Analysis – 3-8-2022
The GBPJPY pair touched the first additional negative target yesterday by reaching 159.43, to rebound bullishly towards 162.60, covering some recently recorded losses and settling above the moving average 55 as appears on the chart.
The above chart shows stochastic attempt to exit the oversold areas, to confirm postponing the negative attempts and start suggesting the bullish rally to target 162.80 followed by reaching the next barrier at 163.45.
The expected trading range for today is between 161.30 and 162.80
The expected trend for today: Bullish
Platinum price surrenders to the resistance stability – Analysis – 3-8-2022
Platinum price renewed the sideways trades, affected by the stability of 925.00 resistance line, to decrease the chances of resuming the correctional bullish rally and rebound towards 900.00.
Also, stochastic begins to provide the negative momentum by exiting the overbought areas, which might assist to activate the negative track for now, expecting to suffer some losses by reaching 875.00 and 855.00 levels.
The expected trading range for today is between 925.00 and 855.00
The expected trend for today: Bearish
Copper price gets the positive momentum – Analysis – 3-8-2022
Copper price succeeded to keep the correctional bullish track by gathering the positive momentum to continue fluctuating above the main support at 3.1300, to notice renewing the chances of holding above 50% Fibonacci correction level at 3.5000.
These factors allow us to continue suggesting the bullish attempts that might target 3.6300 initially, while surpassing this obstacle might extend trades towards 3.8500 as a next main target for the bullish bias.
The expected trading range for today is between 3.3500 and 3.6300
The expected trend for today: Bullish