The EURJPY suffers big losses – Analysis – 29-7-2022
The EURJPY pair formed a strong negative attack to surpass 38.2% Fibonacci correction level, which formed the initial main target by its stability at 136.75, suffering extra losses by hitting 135.60 level.
We expect the trading reach to 135.10 then begin providing sideways fluctuation until gaining the required extra negative momentum, to reinforce the bearish track and reaching 50% Fibonacci correction level at 134.35.
The expected trading range for today is between 136.40 and 135.10
The expected trend for today: Bearish
The GBPJPY declined strongly– Analysis – 29-7-2022
The GBPJPY pair interactive with the repeated negative pressures, to keep its negative stability below the barrier at 165.30, to notice forming a strong decline today, suffering big losses by its reach to 38.2% Fibonacci that is located near 162.00.
Facing the moving average 55 currently might force the price to form temporary sideways fluctuation, to keep waiting for breaking this barrier, which might assist to resume the decline and reach 161.35 and 160.70 soon.
The expected trading range for today is between 163.85 and 161.35
The expected trend for today: Bearish
Platinum price surpasses the initial target – Analysis – 29-7-2022
Platinum price formed a new bullish wave, to surpass the initial target at 900.00, confirming its surrender to the bullish correctional bias domination, in spite of the contradiction between the main indicators, but we keep preferring the rise until reaching the barrier at 925.00, to form the next main target for the bullish bias.
Note that the price success to breach the targeted barrier will assist to move the trading towards the bullish track in the upcoming period, while the negative stability below it might support the bearish bias domination in the upcoming period, to expect begin declining and press on 850.00 level initially.
The expected trading range for today is between 880.00 and 925.00
The expected trend for today: Bullish
Copper price in its way to resume the rise – Analysis – 29-7-2022
Copper price continued forming positive trading repeating the pressure on the barrier at 3.5000 level in order to find an exit to resume the suggested bullish attack, stochastic exit from the oversold level will provide extra positive momentum to ease the mission of achieving the breach and reaching the positive targets at 3.6300 and 3.8500.
The expected trading range for today is between 3.400 and 3.6300
The expected trend for today: Bullish