Midday update for the EURUSD 15-05-2019
The EURUSD pair shows calm bearish bias since morning, supported by the negative signal provided by stochastic, to keep our bearish overview that its targets begin by breaking 1.1180 to open the way to head towards 1.1100 followed by 1.1000 levels, noting that breaching 1.1250 will stop the expected decline and push the price to achieve positive targets that reach 1.1443 on the near term basis.
The expected trading range for today is between 1.1120 support and 1.1280 resistance.
The expected trend for today: Bearish
Copper price fails to break – Analysis – 15-5-2019
Copper price did not succeed to confirm breaking the additional at 2.7220 until this moment, to notice the attempt to form intraday positive rebound as appears on the chart, and that won’t change the main bearish track due to the stability of 2.8300 barrier, expecting to surrender to the intraday sideways trades until achieving the required break followed by waiting to record the targets at 2.6500 and 2.5370 levels.
Stochastic attempt to crawl towards the oversold areas reinforces the negative overview by providing new negative momentum to assist to achieve the required break.
The expected trading range for today is between 2.7700 and 2.6500
The expected trend for today: Bearish
Platinum repeats the negative closings – Analysis – 15-5-2019
Despite Platinum price recent sideways trading, its negative stability below the bearish channel’s resistance at 890.00 forms the major factor to confirm the continuation of the negativity for the near term and medium term trading.
Therefore, we will keep waiting to form new negative attack to press on the initial support at 825.00, which breaking it will confirm the preparation to reach the next negative station at 749.00.
The expected trading range for today is between 875.00 and 825.00
The expected trend for today: Bearish
The GBPJPY keeps the bearish scenario – Analysis – 15-5-2019
The GBPJPY pair did not care of any barrier that might stop the negative track, to notice reaching 141.20 level recently, approaching our target suggested in our previous report, while the negative stability within the additional bearish channel besides 143.80 level forming additional resistance reinforces the continuation of the negativity for the near and medium term trading.
In addition, 142.85 level forming additional resistance and stochastic attempt to provide new negative momentum by fluctuating around 20 level allows us to suggest more negative attempts that might target 140.40 followed by 139.10 levels.
The expected trading range for today is between 142.85 and 140.40
The expected trend for today: Bearish