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End of day analysis for the EURUSD 12-03-2020
The EURUSD pair traded with strong negativity to achieve our second target at 1.1136 and touches 61.8% Fibonacci correction level, noticing that the price bounced upwards quickly from there to settle above the previously breached resistance of the bearish channel, to hint the price head to resume the main bullish trend, and we need to monitor today’s close to confirm the next destination, as consolidating above 1.1050 will lead the price to achieve positive targets that start at 1.1325 and extend to 1.1457.
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Midday update for Wheat price 12-03-2020
Wheat price managed to break 503.70 level and attempts to hold below it, which supports the continuation of the bearish trend scenario efficiently in the upcoming period, and the price needs to get a daily close below this level to confirm rallying towards 483.20 that represents our next main target, noting that it is important to hold below 503.70 to continue the expected decline.
MoreMidday update for Sugar price 12-03-2020
Sugar price resumes its negative trading to move below 12.00$ barrier, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, and the way is open to achieve our waited target at 11.55, reminding you that the continuation of the bearish wave conditions holding below 12.44.
MoreMidday update for Soybean price 12-03-2020
Soybean price settles around 860.00 level, and as long as the price is below 876.30, the negative pressure will remain valid for today, supported by the EMA50, reminding you that we are waiting to head towards 847.00 that represents the main target of the current bearish wave.
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