Midday update for the EURUSD 21-06-2022
The EURUSD pair rallied upwards to breach 1.0550 level and settles above it, and closed the last four hours’ candlestick above this level to add more confirmation to the continuation of the positive scenario for the rest of the day, paving the way to head towards 1.0670 that represents our next main target, noting that the continuation of the bullish wave requires holding above 1.0550 and the most important above 1.0495.
The expected trading range for today is between 1.0450 support and 1.0610 resistance.
The expected trend for today: Bullish
Copper price might postpone the decline – Analysis – 21-6-2022
Copper price failed to break 50% Fibonacci correction level at 3.9300 to form new support against the negative attempts and force it to form temporary sideways fluctuation.
We expect to continue forming sideways trades until gathering the additional negative momentum to manage to hold below 4.1800 level, waiting to break the current obstacle to ease the mission of reaching the additional negative stations by moving towards 3.8000 and 3.6800 levels.
The expected trading range for today is between 4.1000 and 3.9300
The expected trend for today: Sideways
Platinum price surrenders to the indicators’ contradiction – Analysis – 21-6-2022
Platinum price confirmed surrendering to the domination of the sideways bias by settling above 920.00 support line recently, affected by the continuous contradiction between the major indicators, to keep the stability within the sideways track represented by the current support and 967.00 resistance.
These factors allow us to continue neutral, noting that breaking the support will assist to activate the negative track again, to expect suffering many losses that might start at 890.00 and 855.00 levels.
The expected trading range for today is between 920.00 and 965.00
The expected trend for today: Neutral
The GBPJPY renews the positive attempts – Analysis – 21-6-2022
The GBPJPY pair gained new positive momentum by stochastic attempt to crawl towards 80 level, to notice forming new bullish wave to press on 166.00 obstacle.
We remind you that it is important to wait the required breach to reinforce the domination of the bullish track followed by waiting to reach the additional positive stations represented by 166.60 and 167.40 levels.
The expected trading range for today is between 165.10 and 167.40
The expected trend for today: Bullish