The EURJPY postpones the negative attack – Analysis – 10-3-2022
The EURJPY pair jumped bullishly yesterday to surpass 126.85 barrier, hinting postponing the negative attack by moving towards 128.45, also, stochastic rally above 50 level will increase the chances of testing the main resistance at 129.40 before recording any new negative target.
In case the price declined below 126.85 again, that will reactivate the negative track, to expect forming bearish crawl and target 125.10 followed by reaching 50% Fibonacci correction level at 123.50.
The expected trading range for today is between 129.10 and 127.25
The expected trend for today: Bullish temporarily
Wheat price hits the first negative target – Analysis - 10-03-2022
Wheat price succeeded to touch our waited correctional target at 1114.00 and settles there, and attempted to break it by today’s open, to hint heading to achieve more bearish correction, noting that confirming the break will push the price to 1043.30 as a next main station.
Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that the consolidation of the current support against the negative pressure will lead the price to start recovery attempts and head to test 1200.00 level initially.
The expected trading range for today is between 1070.00 support and 1170.00 resistance.
The expected trend for today: Bearish
Sugar price breaks the support – Analysis - 10-03-2022
Sugar price ended yesterday with strong negativity to break 19.16 level and settles below it, which puts the price under expected negative pressure in the upcoming sessions, targeting testing 18.70 followed by 18.25 levels as main stations.
Therefore, the bearish bias will be suggested for today unless the price managed to breach 19.16 and hold above it again.
The expected trading range for today is between 18.50 support and 19.30 resistance
The expected trend for today: Bearish
Soybean price tests the support base – Analysis - 10-03-2022
Soybean price provided clear negative trades yesterday to test the key support 1663.00, as it kept its stability above it, getting continuous positive support by the EMA50, while stochastic provides positive signals now.
Therefore, these factors support the chances of resuming the main bullish trend, which its targets begin at 1707.00 and extend to 1757.00, while achieving them requires holding above 1663.00.
The expected trading range for today is between 1640.00 support and 1720.00 resistance.
The expected trend for today: Bullish