Midday update for the EURUSD 15-10-2021
The EURUSD pair shows news attempts to breach 1.1615 level, getting positive motive by stochastic, waiting to confirm the breach to rally towards 1.1670 followed by 1.1760 levels that represent our next main targets, to keep our bullish overview for today as long as 1.1545 level remains intact, noting that the EMA50 supports the expected rise.
The expected trading range for today is between 1.1550 support and 1.1700 resistance.
The expected trend for today: Bullish
Wheat price awaits more decline – Analysis - 15-10-2021
Wheat price tested the EMA50 that formed solid resistance against the price and begins to rebound bearishly from there, to keep the bearish trend scenario valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, waiting to test 717.00 level initially.
We remind you that breaking the targeted level will extend the bearish wave to reach 696.80 as a next station, while holding below 741.90 represents key condition to continue the expected decline.
The expected trading range for today is between 710.00 support and 740.00 resistance.
The expected trend for today: Bearish
Sugar price under the negative pressure – Analysis - 15-10-2021
Sugar price broke 19.72 level strongly and settled below it, to head towards achieving more expected decline in the upcoming sessions, targeting visiting 38.2% Fibonacci correction level at 19.16.
Therefore, the bearish bias will be suggested on the intraday basis unless the price managed to breach 19.72 level and hold above it.
The expected trading range for today is between 19.15 support and 19.80 resistance
The expected trend for today: Bearish
Soybean price loses momentum – Analysis - 15-10-2021
Soybean price settles around 1210.00, keeping its stability below 1225.90 level, noticing that stochastic lost its positive momentum to show overbought signals now, to support the chances of resuming the expected bearish trend for the upcoming period, which its next target located at 1133.00.
The EMA50 supports the suggested decline, which will remain valid conditioned by the price stability below 1225.90.
The expected trading range for today is between 1190.00 support and 1225.00 resistance.
The expected trend for today: Bearish