The EURJPY records some losses – Analysis – 4-10-2021
The EURJPY price formed strong negative trades after confirming regaining the bearish bias by settling below the bearish channel’s resistance at 129.65, to notice its stability near 128.70 level, also, stochastic attempt to crawl towards the oversold areas will increase the negative pressures and confirm the continuation of the negativity, to keep waiting to attack the next support 128.05 in order to find a way to resume the negative attack.
The expected trading range for today is between 129.30 and 128.05
The expected trend for today: Bearish
The GBPJPY under the negative pressure – Analysis – 4-10-2021
Despite the GBPJPY pair’s consolidation within the bullish channel, getting negative pressures by the major indicators hinder the attempts to renew the bullish attack, to keep its stability below 151.25 until this moment.
We expect more fluctuation within tight track, represented by the mentioned barrier and 149.65 support line, thus, we will stay aside until surpassing one of these levels to manage to detect the next main trend.
The expected trading range for today is between 149.65 and 151.20
The expected trend for today: Neutral
Platinum still bearish – Analysis – 4-10-2021
No change to platinum price bearish track despite its bullish rally above 50% Fibonacci correction level at 960.00, due to its fluctuation within the main bearish channel that appears on the chart.
We will depend on the stability of the major resistance at 991.00 to ease the mission of reaching the negative stations at 940.00 and 905.00.
The expected trading range for today is between 990.00 and 940.00
The expected trend for today: Bearish
Copper price gathers its strength – Analysis – 4-10-2021
Copper price formed correctional bullish rebound after facing 4.0500 level, to form additional support against the negative trades and approaches the moving average 55 near 4.2600.
We remind you that the bearish scenario will remain valid as long as 4.4100 resistance remains intact, also, stochastic fluctuation below 50 level will increase the chances of gathering the additional negative momentum, to manage to break 4.0500 in order to reach new negative stations that might start at 3.8850.
The expected trading range for today is between 4.2600 and 3.8800
The expected trend for today: Bearish