Midday update for the EURUSD 05-08-2022
The EURUSD pair shows some slight bearish bias to head towards testing the key support base 1.0200, which represents the first condition to continue the expected bullish trend for the upcoming period, as breaking it might push the price to test the most important support at 1.0100 before any new attempt to rise, while our main targets begin at 1.0278 and extend to 1.0355.
The expected trading range for today is between 1.0160 support and 1.0320 resistance.
The expected trend for today: Bullish
Coffee price postpones the decline – Analysis – 5-8-2022
Coffee price formed correctional bullish wave recently, affected by stochastic rally above 50 level, to postpone the negative attack and approach the moving average 55 at 220.00.
We remind you that the main stability within the bearish channel forms the major factor to suggest the negative trades for the upcoming trades, to keep waiting to gather the negative momentum and repeat the pressure on 203.80, while breaking it will extend trades towards the main negative stations at 198.00 followed by reaching the additional support at 191.10.
The expected trading range for today is between 225.00 and 203.80
The expected trend for today: Bearish
No change to the negativity of natural gas price – Analysis – 5-8-2022
No change to natural gas price negativity, due to the frequent negative stability below the major resistance at 9.050, while the current sideways fluctuation is caused by the positive momentum coming by the major indicators, which hinders the chances of forming the negative trades and settle near 8.110.
We recommend waiting to gather the negative momentum again to assist to activate the bearish track and expect moving towards 7.600 level, while breaking this obstacle will extend losses towards 7.050 as a main target for the current trades.
The expected trading range for today is between 8.350 and 7.600
The expected trend for today: Bearish
The Brazilian index rises strongly – Analysis – 5-8-2022
The Brazilian index succeeded to confirm its move to the bullish track to notice its recent stability above the major support at 101320, to react to stochastic positivity, forming strong bullish attack and achieve 106450.
Note that facing the moving average 55 might force it to form temporary sideways fluctuation until breaching this obstacle followed by starting to target new positive stations by reaching 108400 and 110240 levels.
The expected trading range for today is between 105000 and 108400
The expected trend for today: Bullish