Midday update for the EURUSD 17-05-2022
The EURUSD pair trades with clear positivity to breach 1.0435 level and opens the way to achieve bullish correction on the intraday basis, approaching to test 1.0490 level now, and we expect the continuation of the rise to visit 1.0525 level as a next positive target, making the bullish bias expected in the upcoming sessions unless breaking 1.0435 level and holding below it.
The expected trading range for today is between 1.0400 support and 1.0525 resistance.
The expected trend for today: Bullish for the rest of the day
Copper price keeps delaying the decline– Analysis – 17-5-2022
Copper price still need the negative momentum, to confirm delaying the negative attack by its rally above 4.1800, and the contradiction between stochastic positivity and the main negative stability below the resistance at 4.3800, so that increases the chances for forming mixed trading until gathering the negative momentum, to ease the mission for reaching the negative targets near 3.9300 and 3.700.
The expected trading range for today is between 4.3100 and 4.1000
The expected trend for today: Fluctuated
Platinum price gains a new negative momentum– Analysis – 17-5-2022
Platinum price suffered extra negative pressures by stochastic attempt to reach the oversold level, which forces it to keep forming bearish waves to settle below 950.00 level.
The stability of the moving average 55 near the main resistance at 997.00 level increases the chances for renewing the negative attempts, to expect reaching the support at 913.00, and breaking this support makes us expect suffering extra losses by its decline at 855.00.
The expected trading range for today is between 965.00 and 913.00
The expected trend for today: Bearish
The GBPJPY began with a positive action– Analysis – 17-5-2022
The GBPJPY pair suffered negative pressures by its stability above 157.60, surpassing the moving average 55, achieving some gains by its rally to 159.70.
The main stability within the bullish channel’s levels and the continuation of providing positive momentum by the main indicators, so that makes us begin preferring the bullish attempts in the near and medium period, to expect reaching 160.50, then begin pressing on 38.2% Fibonacci correction level near 161.65.
The expected trading range for today is between 158.60 and 160.50
The expected trend for today: Bullish