The EURUSD faces solid resistance – Analysis - 11-05-2021
The EURUSD pair finds difficulty to breach 1.2170 level, to show some bearish bias and test the minor support 1.2135, as the price needs to consolidate above this level to keep the positive scenario active for the upcoming period, which its next target reaches 1.2300.
Stochastic approaches the oversold areas to support the expectations to rise, reminding you that breaking 1.2135 will press on the price to test 1.2064 areas before turning back to rise.
The expected trading range for today is between 1.2064 support and 1.2230 resistance.
The expected trend for today: Bullish
Midday update for Wheat price 10-05-2021
Wheat price faces additional negative pressure to break 756.00 and head towards achieving more expected decline in the upcoming sessions, making the bearish bias suggested for the rest of the day, targeting testing 737.50 initially before attempting to rise again, noting that breaching 757.00 and holding above it will reactivate the main positive scenario that its next target located at 800.00.
The expected trading range for today is between 740.00 support and 755.00 resistance.
The expected trend for today: Bearish for the rest of the day
Midday update for Sugar price 10-05-2021
Sugar price trades positively to move above 17.50 level now, which support the continuation of our bullish overview that targets 18.00 as a next station, noting that stochastic provides positive signal that supports the suggested rise, which will remain valid conditioned by the price stability above 17.50.
The expected trading range for today is between 17.30 support and 18.00 resistance
The expected trend for today: Overall Bullish
Midday update for Corn price 10-05-2021
Corn price achieved initial break to the minor bullish channel’s support line, and the price might witness some temporary decline before turning back to rise again.
Until now, the overall positive scenario still valid as long as the price is stable above 710.00 and the most important above 689.00, reminding you that our next target is located at 730.00.
The expected trading range for today is between 700.00 support and 730.00 resistance.
The expected trend for today: Bullish