The EURJPY needs to break the support – Analysis – 12-8-2019
The EURJPY pair continued to form clear negative crawling recently, attempting to reach the bearish channel’s support line at 117.50, reminding you that the negative overview depends on the price consolidation within the bearish channel, to form additional resistance at 120.70 and increase the chances of resuming the negative attack on the near term and medium term basis.
We expect to gather new negative momentum to press on the targeted support, noting that succeeding to break this barrier will confirm moving into new negative track by targeting 116.70 followed by 114.85 levels in the upcoming period.
The expected trading range for today is between 119.25 and 116.70
The expected trend for today: Bearish
Copper price keeps the negative stability – Analysis – 12-8-2019
Copper price confirmed keeping the bearish bias domination by providing new negative close below 2.6250 resistance, while the intraday sideways trades caused by the lack of the negative momentum, expecting to provide new sideways fluctuation until succeeding to get additional momentum followed by waiting to reach our targets at 2.5500 followed by 2.4660.
The expected trading range for today is between 2.6200 and 2.5500
The expected trend for today: Bearish
Platinum gets rid of the positive pressures – Analysis – 12-8-2019
Platinum price succeeded to get rid of the positive pressures caused by stochastic reach to 80 level by providing new negative close below the bearish channel’s resistance at 870.00, expecting to gather new negative momentum to increase the chances of moving towards 840.00 followed by attempting to press on the initial support 795.00.
On the other hand, facing new positive pressures and rallying above the current resistance will cancel the negative overview by settling within new bullish track to increase the chances of rallying towards 915.00 followed by 1000.00 levels in the upcoming period.
The expected trading range for today is between 870.00 and 840.00
The expected trend for today: Bearish
The GBPJPY achieves the second target – Analysis – 12-8-2019
The GBPJPY pair resumed the main bearish attack to notice reaching the second target at 126.50 recently, expecting to form some sideways fluctuations until breaking this barrier followed by attempting to form new negative attack to target 124.85 followed by reaching the key support 123.25.
Stochastic crawl towards the oversold areas reinforces our bearish overview to decrease the chances of the price affection by the correctional bullish attempts, to confine the price below 128.10 until achieving the mentioned targets.
The expected trading range for today is between 128.10 and 125.60
The expected trend for today: Bearish