The GBPJPY pair confirmed its surrender to the bearish correctional bias dominance by its repeated stability below the resistance at 198.65, forming a new bearish attack in this morning trading and recording some of the suggested targets by hitting 196.95 level.

The continuation of providing negative momentum by Fibonacci will reinforce the chances of confirming breaking 61.8% Fibonacci correction level at 197.50, to reach 196.55 and 197.75, while the failure to confirm the break will force the price to provide mixed trading with the opportunity to rally towards 198.30 before reaching any of the negative targets.

The expected trading range for today is between 196.55 and 198.10

Trend forecast: Bearish

Platinum price declined sharply after breaking the support at $1375.00, resuming its bearish correctional attack to gather more of the gains by targeting $1284.00 level, then bouncing directly to 2.236%Fibonacci extension level at $1332.00.

Note that the repeated stability below the broken support, which represents an extra resistance that might force the price to provide new bearish trading to expect reaching $1275.00 followed by the next support near $1252.00, while stepping above $1370.00 and holding above it will confirm its readiness to form strong bullish wave again.

The expected trading range for today is between $1275.00 and $1355.00

Trend forecast: Bearish

Copper price is under strong bearish pressure to push it to decline below the support at $5.3200, to lose most of its previous gains to reach $4.3900, to face the moving average of 55.

Despite the main stability within the main bullish channel’s levels, the contradiction between the main indicators may increase the chances for suffering extra losses by targeting 161%Fibonacci extension level at $4.2650, while renewing the bullish attempts requires stepping above $4.7400 level, providing chance for recording gains again.

The expected trading range for today is between $4.2600 and $4.5200

Trend forecast: Fluctuated within the bullish track

The (ETHUSD) price rose in its last intraday trading, due to its lean on the support of its EMA50, gaining positive momentum that assisted it to achieve these gains, amid the dominance of the main bullish trend on the short-term basis and its trading alongside a bias line, besides the emergence of the positive signals on the (RSI), reinforcing the positive momentum.

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