The EURJPY reaches the bullish track – Analysis – 02-11-2019
The EURJPY pair formed a new bullish wave in Friday, surpassing the bearish channel’s resistance at 120.65, to confirm its move to the bullish track, depending on forming a true support at 120.05 level against the bullish trading, to prefer recording the positive targets that begin at 121.30 and 122.45.
Stochastic rally and its stability within the overbought level increases the chances for resuming the bullish attack by gaining a new positive momentum, which reinforces the chances for achieving the suggested targets.
The expected trading range for today is between 120.35 and 121.30
The expected trend for today: Bullish
The Spanish index remains bullish – Analysis – 02-11-2019
In spite of forming some of the negative fluctuation by the Spanish index, but its repeated stability within the bullish channel and the moving average 55 rally to 9286.00 level, so that confirms its readiness to resume the bullish attack.
Gaining a new positive momentum makes us begin targeting positive levels that are located at 9443.80 reaching 61.8% Fibonacci correction level, to form the second target by its stability at 9528.15.
The expected trading range for today is between 9318.00 and 9443.80
The expected trend for today: Bullish
The GBPNZD tests the support – Analysis – 02-11-2019
The CHFJPY pair formed a bearish correctional wave in its last trading to test the bullish channel’s support at 2.000, affected by stochastic fluctuation below 80 level, note that the bullish track remains valid unless breaking the current support, to repeat the attempt of reaching 2.0175, then wait for reaching the barrier at 2.0311.
While reaching below the current support and providing a negative close, so that will confirm its move to the bearish track, to expect suffering big losses by reaching 1.9915 reaching 23.6% Fibonacci correction level at 1.9725.
The expected trading range for today is between 2.000 and 2.0175
The expected trend for today: Bullish
Wheat price surpasses the first target – Analysis - 02-12-2019
Wheat price rallied upwards strongly to surpass our first target at 533.85 and approaches the second target at 556.20, reinforcing the expectations of achieving more gains in the upcoming period, as the price moves inside bullish channel that its resistance line located at 558.25.
Therefore, we are waiting for more rise on the intraday and short term basis, noting that breaking 533.85 will press on the price to test the mentioned bullish channel’s support line at 505.00 before any new attempt to rise.
The expected trading range for today is between 535.00 support and 560.00 resistance.
The expected trend for today: Bullish