The GBPJPY pair formed a strong bullish rally, surpassing the initial target at 216.55, recording big gains by approaching the main target near 217.55, which forces it to form corrective rebound near 216.55.

Note that the stability of the trading above 215.85 level will provide a chance to renew the bullish attempts, to expect gathering positive momentum in the current trading, reaching the target at 217.55, and surpassing it might extend the trading towards 217.90 reaching the next resistance at 218.60, while the risk of activating the negative trend required holding for four hours below 214.50 level.

The expected trading range for today is between 215.80 and 217.55

Trend forecast: Bullish

Platinum price attempted to settle within the minor bearish channel’s levels by its fluctuation near $1605.00 level, taking advantage of the negative factors that are represented by forming main barrier at $1745.00 level, besides the attempt of providing negative momentum by the main indicators, especially by stochastic stability below 80 level.

Therefore, we will keep preferring the bearish trend in the near trading, to expect breaking $1600.00 level and holding below it to begin targeting negative stations, which might begin at $1570.00 and $1510.00.

The expected trading range for today is between $1570.00 and $1650.00

Trend forecast: Bearish 

Despite the weakness of copper’s last trading, providing negative closes below $6.3000 supports the chances of activating the bearish corrective trend in the near and medium period.

The current sideways trading is caused by the contradiction of the main indicators’ positivity against the negative stability below the previously mentioned barrier, therefore, we will keep waiting for gathering negative momentum to break $5.9500 level, to begin targeting negative stations, which might begin at $5.8200 and $5.7100.

The expected trading range for today is between $5.9500 and $6.2300

Trend forecast: Bearish

(ETHUSD) declined in its latest intraday trading, to gather the gains of its previous rises, attempting to gain bullish momentum that might help it to recover and resume its gains, amid the dominance of the bullish corrective trend on the short-term basis, with the continuation of the positive pressure that comes from its trading above EMA50, reinforcing the chances of a recovery in the near upcoming period, especially with the emergence of the positive signals from the relative strength indicators.