Update: Calm trades affected by the US holidays
The major currencies pairs and commodities show calm and tight trades since morning, which keeps the morning suggested scenario valid without any change, and we recommend to check them to review the expected trends and targets for the upcoming period.
Copper price resumes the decline – Analysis – 20-6-2022
Copper price still affected by the frequent negative pressures, forming new negative wave to approach 50% Fibonacci correction level at 3.9300, which formed the first main target for the bearish track.
Note that forming continuous barrier at 4.1800 and the stability of stochastic within the oversold areas will increase the chances of breaking the current obstacle in order to reach new negative stations that might start at 3.8000 and 3.6800.
The expected trading range for today is between 4.0500 and 3.9000
The expected trend for today: Bearish
Platinum price fluctuates near the support – Analysis – 20-6-2022
Platinum price formed temporary negative rebound on last Friday to press on the key support 920.00, in order to find a way to exit the recently dominating sideways track.
Note that the continuous contradiction between the major indicators allows us to continue neutral and wait to surpass one of the major levels represented by the current support and 970.00 resistance to manage to detect the next main targets.
The expected trading range for today is between 920.00 and 970.00
The expected trend for today: Neutral
The GBPJPY touches the first target – Analysis – 20-6-2022
The GBPJPY pair took advantage of the positive stability above 164.30 to manage to form strong bullish rally and touch the first target at 166.00 as appears on the chart.
Now, stochastic rally above 50 level will reinforce the continuation of the positivity to ease the mission of holding above 166.00 level followed by reaching the additional stations that start at 166.70 and 167.40.
The expected trading range for today is between 164.30 and 166.70
The expected trend for today: Bullish