The EURJPY keeps the positivity – Analysis – 6-1-2022
The EURJPY pair still affected by the domination of the bullish bias due to leaning above the additional support at 129.85, noticing the fluctuation of the moving average 55 near it, to confirm blocking trades within the bullish track as appears on the chart.
Stochastic exit from the overbought areas might force the price to form temporary sideways fluctuation, to keep waiting to gather the positive momentum in order to reach the additional positive stations at 131.85 and 132.45.
The expected trading range for today is between 130.55 and 131.85
The expected trend for today: Bullish
The GBPJPY fails to confirm the breach – Analysis – 6-1-2022
The GBPJPY pair failed to confirm breaching 157.40 barrier to postpone the bullish attack and rebound negatively towards 156.70, and despite the main stability within the bullish channel, the negative consolidation below the mentioned barrier increases the chances of forming new negative rebound, to expected moving towards 155.85 level, while breaking this level will extend the pair’s losses towards 154.60 on the medium term basis.
On the other hand, confirming the required breach will open the way to resume the bearish attack, to expect recording new positive targets by rallying towards 158.60 followed by reaching the psychological barrier at 160.00.
The expected trading range for today is between 157.50 and 155.85
The expected trend for today: Bearish
Platinum price touches the first target – Analysis – 6-1-2022
Platinum price formed new bullish wave yesterday, achieving the first additional target by touching 1004.00, to form strong obstacle against the bullish trades and force the price to rebound negatively towards 975.00.
We remind you that holding above 925.00 support line and stochastic continuous attempts to provide the positive momentum allow us to keep the bullish overview, waiting to breach 1005.00 in order to reach new positive stations in the medium term period, which might start at 1040.00 and 1070.00.
The expected trading range for today is between 950.00 and 1040.00
The expected trend for today: Bullish
Copper price lacks the positive momentum – Analysis – 6-1-2022
No change to copper price sideways trades due to the lack of the positive momentum, to fluctuate near 4.3300 support line, thus, we will keep waiting to gather the positive momentum and manage to renew the positive action that targets 4.5200 followed by 4.6200 levels.
Note that facing frequent negative pressures and the attempt to decline below the mentioned support will force the price to postpone the bullish attack and start suffering many losses by moving towards 4.2750 and 4.1850 levels.
The expected trading range for today is between 4.3300 and 4.4400
The expected trend for today: Bullish