Despite the negative pressure on the EURJPY pair that was caused by stochastic reach to the overbought level, but the repeated negative stability below the main resistance at 163.25 confirms its surrender to the suggested bearish scenario, to fluctuate near 162.75.

We should confirm that gathering negative momentum in the current period is important for increasing the chances of forming new bearish waves, to press on the moving average 55 at 161.30, and surpassing it might push the price to reach the next stations at 160.35 level and 159.55.

The expected trading range for today is between 161.30 and 163.25

Trend forecast: Bearish

The GBPJPY pair provided more negative attempts on Friday’s trading, but the contradiction between the main indicators pushed it to delay the negative attack, by its rebound above 186.50 level that represents a new obstacle against the negative attempts, which pushes it to form a sideways fluctuation by its stability near 187.50.

Reminding you that the bearish scenario remain valid, depending on the stability of the resistance at 189.75, besides 38.2% Fibonacci correction level’s attempt to settle at 188.00 as an extra barrier, therefore, we will keep waiting for gathering the negative momentum again, to ease the mission of renewing the pressure on 186.50, as breaking it will open the way towards reaching the extra negative stations, which might begin at 186.60 and 184.40.

The expected trading range for today is between 186.50 and 188.40

Trend forecast: Bearish

No news for Platinum price by its repeated fluctuations below the obstacle at $950.00, which forces it to provide weak sideways trading, delaying the waited bullish rally.

Note that stochastic attempt to reach the overbought level supports the chances for gaining positive momentum, to keep waiting for breaching the current obstacle to ease achieving the extra gains, which are located near $963.00 and$976.00, while the failure of the breach will confirm the domination of the sideways scenario, with a chance for retesting the initial support at $920.00 before any attempt to reach the previously suggested targets.

The expected trading range for today is between $935.00 and $963.00

Trend forecast: Bullish

Copper price resumed its bullish rally, to notice its approach from $4.5600 this morning, which represents 50%Fibonacci correction level for the last decline, which began from the top at $5.3200.

Note that the continuation of copper’s price stability below $4.5600 level as an important barrier might push it to delay the bullish attack, and providing new negative trading, to target $4.4300 and $4.3200, while breaching the barrier and holding above it will reinforce the chances for recording extra gains that might extend to $4.6800 and $4.7500.

The expected trading range for today is between $4.4300 and $4.5600

Trend forecast: Bearish