Midday update for the EURUSD 19-09-2019
The EURUSD pair returns to test the bearish channel’s resistance, as long as the price is below 1.1085, so our bearish trend expectations will remain valid for today, supported by stochastic negativity, reminding you that we are waiting for visiting 1.0857 level as a next main station.
The expected trading range for today is between 1.0950 support and 1.1100 resistance.
The expected trend for today: Bearish
Copper price repeats the negative fluctuation – Analysis – 19-9-2019
Copper price gained a new negative momentum, to reinforce the continuation of the negativity by recording 2.5700 level, and the continuation of the stability within the bearish channel levels confirms its readiness to record more of the negative targets that begin at 2.5500 reaching to 2.48 level in the medium period.
Stochastic approach from 20 level forms a main factor that confirms the bearish scenario by providing a new negative momentum, to ease the mission of reaching the waited negative stations.
The expected trading range for today is between 2.6000 and 2.5500
The expected trend for today: Bearish
Platinum hovers near the initial support – Analysis – 19-9-2019
Platinum price is forced to form some temporary negative fluctuation, to approach from the initial support at 915.00, the current support forms the inverted double top pattern level, to reinforce the bullish attempts, to wait for forming a new positive rally, to target 1025.00 level that forms 23.6% Fibonacci correction level.
While the price reach below the current support, so that will confirm delaying the bullish attack, to begin forming a bearish correctional rebound to push the price towards testing the critical support at 860.00.
The expected trading range for today is between 915.00 and 965.00
The expected trend for today: Bullish
The GBPJPY reaches to the average – Analysis – 19-9-2019
The GBPJPY pair lost the positive momentum yesterday, which forces it to form a clear negative rebound approaching from the moving average 55, reinforcing the stability of the initial support at 134.10, the current scenario depends on the strength of this support, and its stability makes us expect renewing the bullish attempts, to target 135.10 reaching to 136.50 level.
While the price reach below the current support and providing negative close will confirm delaying the bullish attack, to suffer several losses by reaching 133.60 reaching to the critical support at 132.60.
The expected trading range for today is between 136.25 and 133.70
The expected trend for today: Bearish