Midday update for the EURUSD 07-04-2020
The EURUSD pair breached 1.0840 level clearly and settles above it now, which urges caution from the upcoming trading, as consolidating above this level will push the price to achieve more bullish bias to visit 1.0966 as a first positive target, while trading below it again will reactivate the bearish trend scenario that its next target located at 1.0700.
Therefore, we prefer staying aside until the price confirms its situation according to 1.0840 level followed by getting clearer signal for the next trend.
The expected trading range for today is between 1.0750 support and 1.0950 resistance.
The expected trend for today: Neutral
Copper price approaches the target – Analysis – 7-4-2020
Copper price continued to form the positive trades to notice approaching the main target at 2.2930, reminding you that it is important to monitor the price behavior due to the importance of this barrier, as breaching it will allow resuming the bullish attack and the chance of touching 2.4100.
On the other hand, the stability below the targeted barrier will confirm renewing the negative trades in the near term and medium term trades, waiting to decline towards 2.0700 followed by reaching the historical support 1.9200.
The expected trading range for today is between 2.2500 and 2.2930
The expected trend for today: Bullish
Platinum begins to rise – Analysis – 7-4-2020
Platinum price started to react to stochastic positivity, to notice moving away from the initial support 710.00 and record some targets by reaching 743.00, to keep our bullish overview until surpassing 765.00 level and manage to test the bearish channel’s resistance at 790.00 followed by monitoring the price behavior due to the importance of this barrier to detect the main targets of the upcoming trades.
The expected trading range for today is between 710.00 and 765.00
The expected trend for today: Bullish
No news for the GBPJPY – Analysis – 7-4-2020
No news for the GBPJPY pair, as it continues the sideways fluctuation between 134.60 barrier and 133.20 initial support that blocks the previously waited negative attempts.
We remind you that the stability of the current barrier allows us to keep our bearish overview that requires breaking 133.20 level in order to reach 132.06, while breaching the current barrier and holding above it confirms moving into the bullish track to start targeting the positive levels that start at 135.55 followed by 137.00.
The expected trading range for today is between 134.60 and 132.06
The expected trend for today: Bearish