Midday update for the EURUSD 30-11-2023
The EURUSD pair faces strong negative pressure to break 1.0960 and attack the bullish channel’s support line, to hint heading to decline for the rest of the day, on its way to visit 1.0860 as a next negative target.
Therefore, the bearish bias will be suggested in the upcoming sessions unless breaching 1.0960 and holding above it again, noting that breaking 1.0860 will put the price under more negative pressure and head towards 1.0760 areas mainly.
The expected trading range for today is between 1.0860 support and 1.1000 resistance.
The expected trend for today: Bearish for the rest of the day
Coffee price keeps the bullish bias – Analysis – 30-11-2023
Despite coffee price recent sideways fluctuation, the frequent stability above 165.45 confirms its preparation to renew the positive action, to notice renewing the fluctuation near the MA55 at 173.40.
We assure the importance of gathering the additional positive momentum to manage to surpass the MA55 and open the way to achieve big gains that might extend towards 183.60 and 194.70 initially.
The expected trading range for today is between 169.00 and 180.00
The expected trend for today: Bullish
Natural gas price prepares to decline – Analysis – 30-11-2023
Natural gas price repeated the fluctuation near the major support line at 2.8000, attempting to find a way to move to the bearish track due to the continuous negative pressures that it faces now.
Stochastic attempt to crawl towards the oversold areas in addition to the MA55 forming new barrier by settling at 2.970 allow us to wait to achieve the required break followed by attempting to decline towards the initial negative stations at 2.680 and 2.550.
The expected trading range for today is between 2.900 and 2.680
The expected trend for today: Bearish
The EURJPY exits the bullish track – Analysis – 30-11-2023
The EURJPY pair succeeded to break the bullish channel’s support line at 161.70, to notice moving towards 161.12 level and confirm moving to the bearish track as expected.
We assure the importance of providing new negative closings below the broken support that forms major resistance now to ease the mission of reaching the negative stations at 160.85 followed by reaching 61.8% Fibonacci correction level at 160.20.
The expected trading range for today is between 161.55 and 160.85
The expected trend for today: Bearish