End of day analysis for the EURUSD 22-05-2020
The EURUSD pair continues to decline to surpass the EMA50 and settles below it, reinforcing the expectations of continuing the bearish trend in the upcoming period, and the way is open to achieve our main waited target at 1.0840, reminding you that it is important to hold below 1.0966 to continue the suggested decline.
Midday update for Wheat price 22-05-2020
Wheat price trades with clear negativity to approach our waited target at 503.70, to keep the bearish trend active for today, noting that breaking the mentioned level will extend the bearish wave to reach 483.20 on the near term basis, while the expected decline will remain valid unless the price rallied to breach 520.30 and hold above it.
The expected trading range for today is between 500.00 support and 525.00 resistance.
The expected trend for today: Bearish
Midday update for Sugar price 22-05-2020
Sugar price shows more decline to approach retesting the breached neckline of the inverted head and shoulders’ pattern, noting that the EMA50 forms positive support to the price, waiting to push the price to resume the correctional bullish trend that targets 11.45 as a next station, noting that breaking 10.60 and holding below it will stop the positive scenario and press on the price to resume the main bearish trend.
The expected trading range for today is between 10.60 support and 11.45 resistance
The expected trend for today: Bullish
Midday update for Soybean price 22-05-2020
Soybean price resumes its negative trades to move away from the broken support that appears on the chart, which reinforce the expectations of achieving more decline for the rest of the day, waiting to visit 816.30 that represents our next main station, reminding you that holding below 848.00 is important to continue the suggested bearish wave.
The expected trading range for today is between 825.00 support and 845.00 resistance.
The expected trend for today: Bearish