Midday update for the EURUSD 24-01-2020
The EURUSD pair shows negative trades to move away from 1.1075 level, and as long as the price is below this level, our bearish overview will remain valid for today, supported by the negative pressure formed by the EMA50, reminding you that our next main target is located at 1.0985.
The expected trading range for today is between 1.0960 support and 1.1100 resistance.
The expected trend for today: Bearish
Copper price approaches the support – Analysis – 24-1-2020
Copper price continues to form correctional bearish trades to approach the main bullish channel’s support line at 2.6950, attempting to record the previously suggested target.
Note that it is important to monitor the price behavior due to the importance of the current support line to detect the next main target, as its stability will increase the chances of renewing the bullish attack to target 2.7800 initially, while crawling below this support will confirm moving to new negative track to suffer many losses that start at 2.6250.
The expected trading range for today is between 2.6950 and 2.7800
The expected trend for today: Bullish
Platinum moves within tight track – Analysis – 24-1-2020
Platinum price continued to form additional sideways trading due to its move within the sideways range represented by the initial support at 990.00 and 1025.00 against the attempts to resume the bullish attack.
The continuous positive momentum signals by the major indicators allow us to continue suggesting the bullish attempts, waiting to surpass the current barrier to ease the mission of reaching the next positive target at 1060.00.
The expected trading range for today is between 990.00 and 1060.00
The expected trend for today: Bullish
The GBPJPY gains new momentum – Analysis – 24-1-2020
The GBPJPY pair started to gather new positive momentum caused by stochastic rally above 50 level, to notice the price fluctuation above 143.80 level that formed an obstacle against the recent bullish attempts.
Also, the main stability within the bullish channel will increase the chances of renewing the bullish attack, waiting to record new positive targets that might start at 145.60 and 146.75 levels.
The expected trading range for today is between 143.40 and 145.60
The expected trend for today: Bullish