The EURJPY threats the positive stability – Analysis – 7-6-2023
The EURJPY pair provided negative signal by crawling below the minor bullish channel’s support line at 149.50, to increase the chances of regain the bearish bias by settling near 148.85, expecting to face strong negative pressures and get negative momentum by the major indicators to target 148.10 level, while surpassing it might extend losses towards 147.30.
On the other hand, regaining the bullish bias requires forming strong bullish wave to settle above 150.00 level and increase the chances of recording additional gains in the upcoming period.
The expected trading range for today is between 149.30 and 148.10
The expected trend for today: Bearish
The GBPJPY still bullish – Analysis – 7-6-2023
Despite the negative pressures that the GBPJPY pair faced yesterday and forming bearish wave, that didn’t affect the main stability due to the frequent consolidation above the bullish channel’s support line at 172.40.
These factors allow us to wait to gather the positive momentum to manage to activate the bullish attack again, which will target 174.30 level initially followed by pressing on 174.75 obstacle.
The expected trading range for today is between 172.75 and 174.00
The expected trend for today: Bullish
Platinum price fluctuates below the barrier – Analysis – 7-6-2023
Platinum price still consolidated below 1040.00 barrier until now, to hinder the chances of resuming the bullish correction and wait to gather the negative momentum to ease the mission of crawling towards the negative targets, located now near 1010.00 and 985.00.
We remind you that facing new positive pressures and rallying above the current barrier will allow the price to resume the correctional bullish attempts, to expect moving towards 1072.00 initially, followed by reaching 1105.00.
The expected trading range for today is between 1040.00 and 1010.00
The expected trend for today: Bearish
Copper price needs new momentum – Analysis – 7-6-2023
Copper price kept its positive stability above 3.5700 support line, to increase the chances of recording new correctional targets, while the lack of the positive momentum led to form sideways fluctuation, to notice its consolidation near 3.7500 until now.
In case the price gathered the positive momentum, that will support our bullish overview that might target 3.8500 level soon, to face 38.2% Fibonacci correction level in addition to the MA55, to hinder the bullish attack for the upcoming period.
The expected trading range for today is between 3.7000 and 3.8500
The expected trend for today: Bullish