The EURJPY prepares for new decline – Analysis – 18-9-2020
The EURJPY pair formed temporary correctional bullish rebound to increase the chances of gathering the negative momentum and settle below 124.40 level, while stochastic reach to the overbought areas confirms getting rid of the positive pressures, to provide the price the chance of gathering the additional negative momentum.
Therefore, we will keep our bearish overview to expect renewing the negative pressures on 123.30 level, while breaking it might extend trades towards 122.70 and 122.25.
The expected trading range for today is between 124.40 and 122.75
The expected trend for today: Bearish
The GBPJPY still negative – Analysis – 18-9-2020
The GBPJPY pair bounced upwards after touching 134.55 level to attempt to gather the additional negative momentum and reinforce the continuation of the negativity for the upcoming trading.
The frequent negative stability below 136.65 barrier and the stability of the moving average 55 above it will confirm the preparation to renew the negative attempts, expecting to move towards 38.2% Fibonacci correction level at 133.68, while surpassing it might extend trades towards 31.90 to form the next target of the bearish bias.
The expected trading range for today is between 136.70 and 134.20
The expected trend for today: Bearish
Platinum seeks an exit – Analysis – 18-9-2020
Platinum price touched 985.00 level yesterday that formed an obstacle against the recent bullish attempts, to force the price to rebound temporarily towards 940.00.
We remind you that the positive stability above 915.00 and stochastic attempt to gather the additional momentum allow us to continue suggesting the bullish attempts, noting that succeeding to surpass 985.00 level will open the way to record new targets that might start at 1040.00 and 1105.00.
The expected trading range for today is between 920.00 and 1000.00
The expected trend for today: Bullish
Copper price gathers its strengths – Analysis – 18-9-2020
Copper price faced the temporary negative pressures yesterday by providing new positive close above the bullish channel’s support line at 2.9800, to notice forming new bullish wave as appears on the chart.
The frequent stability within the bullish track and attempting to gather the additional positive momentum allow us to keep our bullish overview that might target 3.1200 level initially, followed by waiting to reach the next main target at 3.3000.
The expected trading range for today is between 2.9800 and 3.1200
The expected trend for today: Bullish