The EURJPY keeps rising – Analysis – 20-10-2021
The EURJPY price got advantages from the repeated positive pressures that come from providing extra positive momentum by the main indicators to resume the bullish attack, to surpass 133.10 level achieving 133.40 level.
Reminding that the stability of the support at 132.05 forms a main factor to confirm the continuation of the positivity, to keep waiting for hitting the next target at 133.60, then monitor its attitude due to it importance for detecting the main trend in the upcoming trading.
The expected trading range for today is between 132.60 and 133.60
The expected trend for today: Bullish
GBPNZD resumes the decline– Analysis – 20-10-2021
GBPNZD price formed a new bearish wave to settle below 1.9315 level, which forms the neckline of the inverted head and shoulders pattern, and that reinforces the domination of the bearish track, to expect forming a strong bearish attack, to target 1.9160 level reaching the initial support at 1.9065.
Stochastic fluctuation within the oversold level supports our negative expectation by providing extra negative momentum, to ease the mission of reaching the suggested targets.
The expected trading range for today is between 1.9310 and 1.9190
The expected trend for today: Bearish.
Wheat price is retesting – Analysis - 20-10-2021
Wheat price retests the breached neckline of the inverted head and shoulders’ pattern and keeps its stability above it until now, getting positive support by stochastic and the EMA50, waiting to resume the positive trades in the upcoming sessions to head towards 756.00 followed by 766.50 levels as next main stations.
Holding above 741.90 is important to continue the expected rise, as breaking it will press on the price to return to the bearish track again.
The expected trading range for today is between 740.00 support and 755.00 resistance.
The expected trend for today: Bullish
Sugar price keeps achieving the negative targets – Analysis - 20-10-2021
Sugar price managed to break 19.16 and declined to approach our extended target at 18.70, noticing that the price is affected by the double top pattern that we expect to push the price to surpass the last level and head towards 18.25 as a next negative target.
Therefore, the bearish bias will remain dominant in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that holding below 19.16 represents the first condition to continue the suggested bearish wave.
The expected trading range for today is between 18.30 support and 19.16 resistance
The expected trend for today: Bearish