The EURJPY surrenders to the support’s strength – Analysis – 14-8-2019
The EURJPY pair faced strong support at 117.50, to force the price to form bullish rebound and reach 118.25 as appears on the chart, while the continuous stability of the current support will increase the chances of forming new correctional bullish trades to expect targeting 119.25 followed by 121.05 levels.
Stochastic attempt to rally above 50 level supports the bullish overview by providing new positive momentum to ease the mission of reaching the mentioned correctional stations.
The expected trading range for today is between 118.00 and 120.65
The expected trend for today: Bullish
Copper price settles below the resistance – Analysis – 14-8-2019
Copper price repeated its consolidation below 2.6200 resistance to increase the chances of resuming the waited negative attack, while the price needs to get new negative momentum to get rid of the dominant sideways track and start targeting the major levels represented by 2.5500 and 2.4660.
We should note that attempting to rally above the current resistance will confirm the preparation to regain the bullish bias by fluctuating within the bullish channel, followed by expecting to rally towards 2.6800 then reaching 61.8% Fibonacci correction level at 2.7900.
The expected trading range for today is between 2.6200 and 2.5500
The expected trend for today: Bearish
Platinum prepares to decline – Analysis – 14-8-2019
No change to Platinum price that keeps fluctuating within the main bearish channel, to notice its stability below the major resistance 870.00, also, stochastic forms bearish wave to increase the chances of gathering the negative momentum, to ease the attempt to form the negative attack that targets 840.00 followed by 790.00 levels.
The expected trading range for today is between 870.00 and 800.00
The expected trend for today: Bearish
The GBPJPY shows intraday rebound – Analysis – 14-8-2019
The GBPJPY pair failed to break 126.50 support, to force the price to form correctional bullish rebound and record 129.20 level, settling below the additional resistance 130.00.
The stability of the additional resistance allows us to expect renewing the negative attempts, to repeat the pressure on 126.50 obstacle at 126.50, while breaking this level will push the price to reach the additional targets at 124.85 and 123.25 levels.
The expected trading range for today is between 130.00 and 127.00
The expected trend for today: Bearish