The EURJPY pair succeeded in achieving the initial target at 186.65, which represents an extra barrier against the bullish rally, forcing it to provide some sideways trading by its fluctuation near 186.40 level.
Note that the bullish scenario will remain valid if the current main support settles at 184.30, beside providing new support at 186.00 by the main indicators, these factors make us wait for breaching the current barrier, to reinforce the chances of recording extra gains that might extend towards 186.95 reaching 187.60, attacking key resistance to detect the expected main trend in the upcoming trading.
The expected trading range for today is between 185.90 and 186.95
Trend forecast: Bullish
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The pair’s price remains affected by conflicting signals from the main indicators, forcing it to trade sideways with repeated fluctuations below the 218.60 level, which currently represents a temporary barrier against further bullish momentum. As a result, the price has entered a new sideways range, settling near the 218.00 level.
MoreThe platinum price ended its recent positive momentum after hitting $1690.00 level, which acted as an additional barrier against the bullish corrective scenario. The price has been forming negative waves since yesterday, currently settling near $1580.00.
MoreCopper price failed in breaching the barrier at $6.5100, forcing it to delay the bullish trend and providing a clear negative rebound, to settle near $6.2500, the current decline will not affect the chances of renewing the bullish trend, depending on the stability of the extra support at $6.1000, to wait for gathering positive momentum and begin forming bullish waves, to repeat the pressure on the mentioned barrier.
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