Midday update for the EURUSD 03-04-2020
The EURUSD pair managed to break 1.0840 level and closed the last four hours’ candlestick below it, which supports the continuation of our bearish overview efficiently in the upcoming sessions, waiting to target 1.0700 followed by 1.0640 levels as next main stations, noting that holding below 1.0840 represents initial condition to continue the expected decline.
On the other hand, we remind you that it is important to be careful in the upcoming trades, especially at the time of releasing the US economic data.
The expected trading range for today is between 1.0640 support and 1.0966 resistance.
The expected trend for today: Bearish
Copper price repeats the positive attempts – Analysis – 3-4-2020
Copper price rallied towards 2.2100 again, in order to find new escape to resume the correctional bullish attack that targets 2.2960 level mainly, to test the broken support of the bearish channel that appears on the chart.
Also, note that stochastic fluctuates out of the oversold areas to increase the chances of gaining the additional positive momentum to ease the mission of reaching the waited target.
The expected trading range for today is between 2.1600 and 2.2960
The expected trend for today: Bullish
Platinum needs strong momentum – Analysis – 3-4-2020
Platinum price still keeps the correctional bullish attempts by providing frequent positive closings above the initial support 910.00, while lacking the positive momentum forces it to fluctuate within sideways track without achieving any new target until this moment.
Now, after stochastic exited the oversold areas, we expect the beginning of gathering the positive momentum, to support the bullish overview that targets 765.00 followed by reaching 790.00 barrier.
The expected trading range for today is between 710.00 and 765.00
The expected trend for today: Bullish
No change to the GBPJPY track – Analysis – 3-4-2020
The GBPJPY pair was affected by some positive pressures yesterday, caused by stochastic rise to the overbought areas, to block the negative attack by consolidating near 133.40 level, while the negative stability below 134.60 resistance confirms the continuation of the negativity to keep waiting to decline towards 132.06, while surpassing it will push the price to record new negative targets that might extend to 130.60.
The expected trading range for today is between 133.85 and 132.06
The expected trend for today: Bearish