Midday update for the EURUSD 05-12-2023
The EURUSD pair resumes its negtaive trading in attempt to move away from 1.0860 level, rienforcing the expectations for the bearish trend expectations in the upcoming sessions, reminding you thta we are waiting for visiting 1.0760 level as a next main target.
holding below 1.0860 level represents a main condition for the continuation of the expected decline, while breaking the targeted level will extend the bearish wave to reach 1.0645 on the near term basis.
The expected trading range for today is between 1.0750 support and 1.0900 resistance.
The expected trend for today: Bearish
Coffee price repeats the positive closings – Analysis – 5-12-2023
Coffee price continued to form bullish waves, to provide many closings above the bullish channel’s support line at 166.20, to notice achieving clear gains by reaching 188.00.
Also, the major indicators agree to provide the positive momentum, which assists to ease resuming the bullish attack, waiting to touch 193.60 followed by reaching 200.50 in the medium term period.
The expected trading range for today is between 177.10 and 190.00
The expected trend for today: Bullish
Natural gas price declines calmly – Analysis – 5-12-2023
Natural gas price surrendered to the domination of the bearish bias by providing frequent closings below the broken support at 2.850, to notice forming new negative crawl and record the first target by reaching 2.660.
We notice stochastic consolidation within the oversold areas, to increase the negative pressures and agree our bearish overview, to keep waiting to attack the historical support at 2.550, which forms the key to detect the next main trend.
The expected trading range for today is between 2.800 and 2.550
The expected trend for today: Bearish
The EURJPY still bearish – Analysis – 5-12-2023
The EURJPY pair formed correctional bullish rebound after touching 158.70 level, taking advantage of stochastic positive momentum to settle near 159.50 level now, noting that this rebound won’t affect the bearish track due to the frequent stability below 160.20 barrier, allowing us to suggest the negative attack for now to target 158.45 followed by 157.70 levels.
On the other hand, rallying above the barrier and closing positively above it will reinforce the correctional bullish attempts that might target 160.95 before recording any new negative target.
The expected trading range for today is between 159.90 and 158.75
The expected trend for today: Bearish