The EURUSD tests the resistance – Analysis - 18-08-2022
The EURUSD pair tested the key resistance 1.0200 and keeps its stability below it, as the EMA50 met this resistance to add more strength to it, to keep the bearish trend scenario active, waiting to visit 1.0100 initially.
On the other hand, we should note that breaching 1.0200 and holding above it will stop the expected decline and lead the price to start recovery attempts that target testing 1.0278 areas mainly.
The expected trading range for today is between 1.0090 support and 1.0230 resistance.
The expected trend for today: Bearish
Wheat price under the negative pressure – Analysis - 18-08-2022
Wheat price traded with clear negativity in the last sessions to break 800.00 level and settles below it, which stops the suggested positive scenario in our last reports and pushes the price to decline, in its way to achieve negative targets that begin at 744.40.
Moving below the EMA50 supports the expected decline, which will remain valid unless the price rallied to breach 800.00 level and holding above it.
The expected trading range for today is between 744.00 support and 795.00 resistance.
The expected trend for today: Bearish
Sugar price consolidates above the support – Analysis - 18-08-2022
Sugar price keeps its stability above 18.13 level, keeping the bullish trend scenario active in the upcoming period, waiting for getting a positive motive that assists to push the price to achieve our targets that begin at 18.70 and extend to 19.00.
On the other hand, you should be aware that breaking 18.13 will stop the expected rise and pushes the price to return to the main bearish track again.
The expected trading range for today is between 17.90 support and 18.70 resistance
The expected trend for today: Bullish
Soybean price begins negatively – Analysis - 18-08-2022
Soybean price opens today’s trading with a new bearish bias, to attempt to move away from 1402.10 level, reinforcing the expectations for the bearish trend continuation on the intraday basis, waiting for heading towards 1360.00 then 1318.20 levels as next main targets.
The EMA50 keeps pressing negatively on the price, to support the chances for achieving the suggested targets, reminding you that holding below 1402.10 is important for the continuation of the expected decline.
The expected trading range for today is between 1340.00 support and 1405.00 resistance.
The expected trend for today: Bearish