Midday update for the EURUSD 23-05-2022
The EURUSD pair shows additional to approach our waited target at 1.0670, and we expect the continuation of the bullish trend domination to surpass this level and open the way to achieve extended gains that reach 1.0770.
Therefore, we will continue to suggest the bullish trend in the upcoming sessions conditioned by the price stability above 1.0550.
The expected trading range for today is between 1.0520 support and 1.0680 resistance.
The expected trend for today: Bullish
Copper price continues the positive move– Analysis – 23-5-2022
Copper price kept forming positive moves due to its stability above 4.2000, besides providing positive momentum by stochastic, hitting 4.3200 level, we expect the price reach to the main resistance at 4.400, to form a strong obstacle against the positive attempts, which increases the chances for renewing the negative attempts in the upcoming period.
While the price success to reach below 4.2000 level, so that will confirm regaining the bearish bias, to increase the chances for forming strong bearish waves in order to reach the main stations that are represented by 4.1000 and 3.9300.
The expected trading range for today is between 4.2200 and 4.4000
The expected trend for today: Bullish temporarily
Platinum price without any news – Analysis – 23-5-2022
Platinum price remains affected by the contradiction between the main indicators, to keep the fluctuation within the sideways track that is represented by 990.00, while 915.00 level keeps forming the main support against the last trading.
And that provides big chance for forming mixed trading, which makes us monitor the trading and wait for surpassing the main levels, to detect the main trend in the upcoming trading.
The expected trading range for today is between 980.00 and 940.00
The expected trend for today: sideways
The GBPJPY moves away from the moving average– Analysis – 23-5-2022
In spite of the neediness of the positive momentum for the GBPJPY pair, but its rally above the moving average 55 and its stability near 160.00 supports the chances for resuming the bullish attack in the near and medium period, reminding you that surpassing 160.60 level is important to ease the mission for reaching the positive stations that are located at 161.70 and 162.40.
The risk of suffering new losses by the price attempt to reach below the extra support at 157.60, which increases the chances for forming bearish trading that might push it to reach 156.20, then attempt to test the bullish channel’s support at 154.45.
The expected trading range for today is between 158.70 and 160.70
The expected trend for today: Bullish