Midday update for the EURUSD 16-08-2019
The EURUSD pair resumes its negative trading to surpass 1.1100 level, reinforcing the expectations of continuing the bearish trend for the rest of the day, which targets visiting 1.1000 level as a next main station, noting that the EMA50 supports the suggested negative scenario, which its continuation conditions holding below 1.1180.
The expected trading range for today is between 1.1000 support and 1.1180 resistance.
The expected trend for today: Bearish
Copper price gathers new negative momentum – Analysis – 16-8-2019
Copper price gathered new negative momentum yesterday after stochastic crawled below 50 level, to reinforce the previously suggested negative overview, assuring the importance of the stability of 2.6200 resistance to support the attempts to reach the main targets at 2.5500 followed by 2.4660.
The expected trading range for today is between 2.6000 and 2.5500
The expected trend for today: Bearish
Platinum surpasses the first target – Analysis – 16-8-2019
Platinum price took advantage of the negative pressures to move away from the bearish channel’s resistance at 870.00, noticing surpassing the first target at 834.00, while the continuous negative pressures will increase the chances of reaching the initial support at 790.00, followed by monitoring the price behavior to manage to detect the next main targets.
Note that succeeding to break 790.00 and providing negative close below it will reinforce the continuation of the negativity to expect targeting new negative levels that might start at 748.00.
The expected trading range for today is between 850.00 and 790.00
The expected trend for today: Bearish
The GBPJPY moves within tight range – Analysis – 16-8-2019
The GBPJPY pair failed to break 126.50 support to force the price to form clear correctional rebound by reaching 128.85 level, reminding you that it is important to hold below the initial resistance at 130.00 to confirm blocking the price within tight range, to increase the chances of forming mixed sideways trading now.
We remind you that succeeding to break the current support will confirm moving into new negative track, to target new levels that might start at 124.85, while attempting to rally above the current resistance will increase the chances of forming correctional bullish trades to target 131.70 followed by reaching the key resistance at 133.00.
The expected trading range for today is between 130.00 and 126.50
The expected trend for today: Neutral