Midday update for the EURUSD 23-06-2022
The EURUSD pair faced strong negative pressure to break 1.0550 level, to show mixed trades that make us prefer to stay aside until we get clearer signal for the next trend, which we will get through breaking 1.0480 support or breaching 1.0550 resistance.
Note that breaking the mentioned support will put the price under more negative pressure to head towards 1.0355 as a next negative target, while breaching the resistance will lead the price to recover and visit 1.0670 areas on the near term basis.
The expected trading range for today is between 1.0440 support and 1.0600 resistance.
The expected trend for today: Neutral
Copper price achieves the required break – Analysis – 23-6-2022
Copper price succeeded to resume its negative attack by breaking 50% Fibonacci correction level at 3.9300, to suffer additional losses by reaching 3.8500.
We expect to get more negative momentum to renew the negative attempts and move towards 3.8000 soon, followed by attempting to touch the next main target at 3.6800.
The expected trading range for today is between 3.9500 and 3.6800
The expected trend for today: Bearish
Platinum price gets new negative momentum – Analysis – 23-6-2022
Despite the consolidation within the sideways track, the major indicators agree to provide the negative momentum that will assist to activate the bearish track for platinum price again, waiting to break 920.00 support line and reach new negative stations that start at 890.00 and 855.00.
On the other hand, failing to achieve the required break will increase the chances of forming temporary positive waves in order to test 950.00 before reaching any suggested negative target.
The expected trading range for today is between 940.00 and 890.00
The expected trend for today: Bearish
The GBPJPY threats the positive stability – Analysis – 23-6-2022
The GBPJPY pair faced negative pressures yesterday by stochastic attempt to exit the overbought areas, to notice its fluctuation below the additional support 166.00 and reach 165.60.
Getting new close below the broken support will activate the correctional bearish track, to expect suffering clear losses by moving towards 164.80 and 164.10 levels.
The expected trading range for today is between 166.60 and 164.80
The expected trend for today: Bearish temporarily