Midday update for the EURUSD 12-06-2019
The EURUSD pair shows tight trades since morning to settle around 1.1325, and as long as the price is above 1.1255, our bullish overview will remain valid for today, supported by the EMA50 that carries the price from below, noting that we are waiting to visit 1.1443 as a next main station.
The expected trading range for today is between 1.1255 support and 1.1420 resistance.
The expected trend for today: Bullish
Copper price keeps the bullish bias – Analysis – 12-6-2019
Copper price reached 2.7000 level yesterday, to move away from the bullish channel’s support line at 2.6300, hinting keeping the positive attempts, and despite the contradiction between the major indicators, we expect the price to take advantage of stochastic positivity to jump above 2.7200 level and increase the chances of reaching the next positive station at 2.7800.
The risks of facing losses will appear in case the price crawled below the bullish channel’s support line, as it will open the way to form strong negative attack and move towards 2.5370 followed by 2.4660 levels.
The expected trading range for today is between 2.6400 and 2.7200
The expected trend for today: Bullish
Platinum repeats the bullish rally attempts – Analysis – 12-6-2019
Platinum price kept its positive stability above 790.00 level, to support the correctional bullish overview, thus, we will keep waiting to record the main targets represented by 840.00 level first, while surpassing this barrier might extend trades to test 880.00 resistance.
Stochastic attempt to exit the oversold areas forms additional factor to confirm the correctional bullish scenario, as this confirms gathering new positive momentum to ease the mission of reaching the waited targets.
The expected trading range for today is between 800.00 and 840.00
The expected trend for today: Bullish
The GBPJPY gathers its negative strengths – Analysis – 12-6-2019
The GBPJPY pair continued to face stochastic positivity by settling below the initial resistance 138.50, reinforcing the previously suggested negative overview, while stochastic release from the overbought areas allows us to expect the beginning of gathering the additional negative momentum to manage to record the negative targets at 136.60 and 135.50 levels.
We continue to mention that attempting to rally above the current barrier will postpone the bearish overview and force the price to build more correctional bullish trades with chances to reach 23.6% Fibonacci correction level at 140.40.
The expected trading range for today is between 138.50 and 136.60
The expected trend for today: Bearish