Midday update for the EURUSD 27-02-2020
The EURUSD pair shows additional positive trades to reach 38.2% Fibonacci correction level at 1.0954, to hint the price head to achieve more gains in the upcoming sessions, but we still neutral until we get clearer signal for the next trend, which we will get through breaching the mentioned resistance or breaking 1.0887 support.
Note that breaching the resistance will push the price to 1.1008 as a next correctional target, while breaking the support represents the key to return to the main bearish track that its first target located at 1.0760.
The expected trading range for today is between 1.0830 support and 1.0985 resistance.
The expected trend for today: Neutral
Copper price looks weak – Analysis – 27-02-2020
Copper price forms a new bearish wave yesterday, recording 2.5325 level to surrender to the negative pressures that come from the stochastic fluctuation below 50 level besides the moving average 55 above the current trading.
and that will increase the chances for forming temporary negative trading, to expect the price attempt to test the critical support at 2.4900, then monitor its behavior until confirming the main trend in the upcoming trading.
The expected trading range for today is between 2.5800 and 2.4900
The expected trend for today: Bearish
Platinum settles above the main support – Analysis – 27-02-2020
Platinum price ended its bearish correctional attack by hitting the bullish channel’s support at 906.30 level, keeping its stability within the expected bullish range, therefore, we will keep waiting for gathering a new positive momentum, to ease the mission of reaching the initial positive station at 950.00.
note that the price decline below the main support will confirm its move to the negative trading again, to increase the chances for suffering big losses that might begin at 890.00 and 860.00.
The expected trading range for today is between 905.00 and 950.00
The expected trend for today: Bullish
The GBPJPY approaches from the support – Analysis – 27-02-2020
The GBPJPY pair remains affected by the continuation of the main indicators contradiction, to notice its fluctuation below the barrier at 143.80, which forces it to form a negative rebound, suffering clear losses by reaching 142.35.
reminding you that the support stability at 141.85 reinforces the bullish scenario in the near and medium period trading, while breaking this support will force it to form a strong negative attack, to expect suffering big losses by reaching 140.85 and 140.25.
The expected trading range for today is between 141.85 and 143.80
The expected trend for today: Fluctuated