The EURJPY pair provided new negative closes below the moving average 55 at 161.20 level, which forces it to return to settle within the bearish channel’s levels, to begin targeting some of the negative stations by reaching 159.60.

The contradiction between the main indicators might force the price to form mixed waves, but the chances of activating the bearish track will remain valid, if the trading settled below the bearish channel’s resistance at 160.75, to expect forming an initial negative target at 158.90 level, reaching 157.40 in the near period trading.

The expected trading range for today is between 158.90 and 161.00

Trend forecast: Bearish

The GBPJPY pair returned to activate with the negativity of the main indicators, forming a sharp negative attack yesterday, breaking the support of the main bullish channel at 187.50 level, and forming several bearish waves to settle near 186.00.

Providing new negative closes below the broken support will increase the efficiency of the bearish track, to begin preferring targeting new negative stations by reaching 185.20 followed by 184.50.

The expected trading range for today is between 185.20 and 187.00

Trend forecast: Bearish

Platinum price provided a new positive close above the support base at $895.00, increasing the chances for activating the bullish rally, especially, that stochastic is attempting to provide positive momentum by surpassing the oversold level.

We expect platinum price’s rally toward $935.00, and the continuation of the positivity will reinforce the chances for attacking the extra barrier at $950.00, while reaching below the mentioned support and holding below it will cancel the bullish suggestion, to begin forming strong bearish waves that might push it to decline toward $880.00 and $858.00.

The expected trading range for today is between $905.00 and $950.00

Trend forecast: Bullish 

Copper price failed to activate the bullish trading, due to the continuation of the contradiction between the main indicators, which forces it to provide a new sideways fluctuated move, by approaching from the critical support at $3.9500, reminding you that holding above this support represents a main factor to reinforce the chances for its rally towards the positive stations at $4.4200 and $4.5600.

In case the price surrender to the negative pressure and breaking the critical support, so that will confirm its move to the bearish track, which pushes it to suffer several losses by reaching $3.8600 and $3.6700.

The expected trading range for today is between $4.000 and $4.3300

Trend forecast: Bullish