The EURJPY resumes the decline – Analysis – 7-3-2022
The EURJPY pair didn’t get enough testing the historical support at 126.85, to notice providing new negative wave recently and record 124.40, hinting surrendering to the domination of the bearish bias until this moment.
Also, stochastic continuous negative momentum will confirm blocking the price below 126.80, to increase the chances of resuming the negative attack, to expect moving towards 124.15 followed by attempting to touch 50% Fibonacci correction level at 123.45.
The expected trading range for today is between 125.90 and 124.15
The expected trend for today: Bearish
Wheat price keeps providing bullish gaps – Analysis - 07-03-2022
Wheat price opened today with new bullish gap to trade above 1280.00$ barrier, on its way to achieve more expected rise on the short term and medium term basis, and the next target is located at 1300.00$, which breaching it represents the key to rally towards 1350.00 as a next station.
Caution required from trading on wheat price, due to the possibility of witnessing sudden bearish waves and high volatility at any moment.
The expected trading range for today is between 1250.00 support and 1350.00 resistance.
The expected trend for today: Bullish
Sugar price achieves more positive targets – Analysis - 07-03-2022
Sugar price managed to achieve our first extended positive target at 19.16 and breached it to confirm the continuation of the bullish trend domination, opening the way to head towards our next waited target at 19.72, noting that breaching this level will extend the price gains to reach 20.00 barrier as a next station.
Holding above 19.16 represents initial condition to continue the expected rise, as breaking it will press on the price to test 18.70 areas initially before any new attempt to rise.
The expected trading range for today is between 19.00 support and 19.80 resistance
The expected trend for today: Bullish
Soybean price faces temporary negative pressure – Analysis - 07-03-2022
Soybean price achieved quick break to the bullish channel’s support line and approached the key support 1621.50, but it bounced bullishly again to settle inside the channel again, to keep the bullish trend scenario valid until now, waiting to head towards 1757.00 as a next main target.
The EMA50 supports the expected bullish wave, noting that breaking 1670.00 will press on the price to test 1621.50 areas again before any attempt to rise.
The expected trading range for today is between 1640.00 support and 1720.00 resistance.
The expected trend for today: Bullish