The EURJPY pair formed new bullish rally, to record the initial extra target at 174.25, then bounced quickly to retest the breached barrier, which represents a new support at 173.40.

The suggested scenario depends on the stability of the current support, as the price stability makes us expect renewing the bullish attempts to target new positive stations that begin at 175.20, while facing negative pressures and reaching below this support will increase the chances for activating the bearish correctional track again, which forces it to suffer some losses by reaching 172.80, followed by the support of the bullish channel at 171.15.

The expected trading range for today is between 173.40 and 175.20

Trend forecast: Bullish

The GBPJPY pair attempted to regain its bullish momentum by its rally above 200.45, to record some gains by hitting 201.20 level, but its decline again below the barrier and providing new negative close supports the dominance of the bearish correctional bias, to notice its stability near 199.55.

The stability below the barrier and stochastic attempt to provide negative momentum might increase the chances for suffering extra losses, to expect reaching 198.60, then attempts to press on the extra support at 197.80.

The expected trading range for today is between 198.60 and 200.40

Trend forecast: Bearish

Platinum price remains under the effect of the sideways track, due to the continuation of the main indicators’ contradiction, especially by stochastic reach to 50 level, which forces it to delay the bullish attack and hold near the moving average 55 at $1382.00 level.

The stability of the price above the support at $1355.00 is important for confirming the continuation of the positivity, to keep waiting for gathering the positive momentum, to ease the mission of surpassing $1400.00 level, then begin recording the targets at $1422.00 and $1435.00.

The expected trading range for today is between $1370.00 and $1422.00

Trend forecast: Bullish

Copper price provided slow sideways trading, despite its stability within the bullish track, to keep fluctuating near $4.5500 level, announcing its surrender to form an extra barrier at $4.6200 level against the bullish attempts.

The positive factors began by the unionism of the main indicators by providing positive momentum, and the continuation of forming extra support at $4.2600 level makes us expect surpassing the current obstacle to reach the extra stations near $4.7500 and $4.9500. 

The expected trading range for today is between $4.5000 and $4.7500

Trend forecast: Bullish