Midday update for the EURUSD 27-01-2020
The EURUSD pair shows calm negative trading since morning, to keep approaching our first target 1.0985, thus, the bearish trend scenario will remain valid for today as long as the price is below 1.1080, reminding you that breaking the targeted level will push the price to 1.0880 as a next station.
The expected trading range for today is between 1.0940 support and 1.1080 resistance.
The expected trend for today: Bearish
Copper price declines below the support – Analysis – 27-1-2020
Copper price formed strong negative attack on last Friday, to notice its decline below the minor bullish channel’s support line at 2.6950, hinting moving into new negative track by reaching 2.6160.
The continuous negative closings below the broken support besides stochastic negative momentum signals by settling within the oversold areas allows us to suggest more negative trades until reaching 2.5500 level, to press on 61.8% Fibonacci correction level.
The expected trading range for today is between 2.6630 and 2.5500
The expected trend for today: Bearish
Platinum might decline – Analysis – 27-1-2020
Platinum price provided new negative close recently below 1025.00, to continue forming strong obstacle against the bullish attempts and increases the chances of forming correctional negative rebound on the near term and medium term period.
On the other hand, stochastic exit from the overbought areas will increase the chances of crawling below the initial support at 990.00, to expect moving towards 950.00 followed by 920.00 levels soon.
The expected trading range for today is between 1025.00 and 950.00
The expected trend for today: Bearish
The GBPJPY exits the bullish track – Analysis – 27-1-2020
The GBPJPY pair faced strong negative pressures on last Friday, to notice forming negative attack and settling below 142.70 level that forms the extension of the main bullish channel’s support line.
Note that the continuous fluctuation below the broken support confirms surrendering to the bearish bias domination, to expect gathering the additional negative momentum by stochastic reach to 20 level to start targeting new negative levels by moving towards 141.40 and 140.25 levels.
The expected trading range for today is between 142.70 and 141.40
The expected trend for today: Bearish