The EURJPY prepares for new rise – Analysis – 21-3-2022
The EURJPY pair repeated the positive closings within the bullish track by moving away from 129.85 support line, surpassing 23.6% Fibonacci correction level, noticing touching 131.90 level recently.
The continuous positive momentum coming by the major indicators confirms the preparation to form new bullish attack, to expect moving towards 132.60 level soon, while surpassing this obstacle will push the price to renew the pressure on the major resistance at 133.55.
The expected trading range for today is between 131.00 and 132.60
The expected trend for today: Bullish
Wheat price tests the support – Analysis - 21-03-2022
Wheat price bounced bearishly to reach 1043.30 support line, to keep the price confined within the sideways range that its lines represented by the mentioned support and 1114.00 resistance, to continue suggesting the sideways move until the price manages to breach one of these levels.
The contradiction between stochastic positivity and the EMA50 negativity supports the suggested positive scenario, noting that breaking the mentioned support will press on the price to achieve additional bearish correction that targets 972.80 level as a next station, while breaching the resistance will push the price to achieve new rises and head towards 1200.00 initially.
The expected trading range for today is between 1030.00 support and 1100.00 resistance.
The expected trend for today: Sideways
Sugar price breaches the resistance – Analysis - 21-03-2022
Sugar price breached the intraday bearish channel’s resistance clearly and settled above it, to head towards achieving expected gains on the intraday basis, targeting testing 19.16 level initially, noting that breaching this level will extend the bullish wave to reach 19.72.
On the other hand, we should note that breaking 18.70 and holding below it will press on the price to decline again and head towards 18.25 initially.
The expected trading range for today is between 18.60 support and 19.30 resistance
The expected trend for today: Bullish
Soybean price begins positively – Analysis - 21-03-2022
Soybean price shows new positive trades now to surpass the EMA50, reinforcing the expectations of continuing the bullish trend, which its next main targets located at 1696.00 followed by 1757.00.
Stochastic provides positive signals that support the expected rise, which will remain valid conditioned by the price stability above 1621.50.
The expected trading range for today is between 1650.00 support and 1720.00 resistance.
The expected trend for today: Bullish