Midday update for the EURUSD 09-10-2019
The EURUSD pair provided positive trading today, to approach from the bearish channel’s resistance, and begins declining now, to keep the bearish trend scenario active and valid for today, targeting 1.0857 level as a next main station, reminding you that the continuation of the expected decline conditioned by the stability of the daily close below 1.1020 level.
The expected trading range for today is between 1.0860 support and 1.1040 resistance.
The expected trend for today: Overall Bearish
Copper price settles above the support– Analysis – 9-10-2019
Copper price is forced yesterday to provide some of the bearish correctional rebound, approaching from the critical support at 2.5500, the stability of the support confirms its readiness to renew the bullish attempts, to wait for reaching 2.5900 level reaching to 38.2% Fibonacci correction level at 2.6200.
Stochastic surpass to the oversold level reinforces our bullish suggestion in the current period by providing a new positive momentum, to increase the chances for reaching the waited targets.
The expected trading range for today is between 2.5500 and 2.6200
The expected trend for today: Bullish
Platinum is confined within the negative range – Analysis – 9-10-2019
No news for Platinum price trading until this moment, to keep providing mixed trading within the negative range, reminding you that the bearish scenario will remain valid unless breaching the barrier at 915.00, to increase the chances for reaching the main target at 845.00.
The continuation of Stochastic fluctuation below 50 level reinforces the negative suggestion by providing extra negative momentum, to ease the attempt of renewing the negative attempts in the near period.
The expected trading range for today is between 915.00 and 845.00
The expected trend for today: Bearish
The GBPJPY records some targets – Analysis – 9-10-2019
The GBPJPY pair recorded some of the negative targets yesterday hence it reached 130.40 level, to form a strong barrier that forces it to bounce to the upside as appears in the above image, we expect providing mixed trading until gathering a new negative momentum, to increase the chances for breaking 130.40 level and resuming the negative attack by reaching 128.80 in the upcoming trading.
Forming an extra resistance by the moving average 55 stability at 132.35 confirms the trading confinement within the bearish range, to increase the chances for gaining the required negative momentum to achieve the suggested extra targets.
The expected trading range for today is between 132.30 and 130.40
The expected trend for today: Bearish