The GBPJPY approaches the top – Analysis – 22-6-2022
The GBPJPY pair touched 167.84 level yesterday, to record our suggested target and confirm its surrender to the domination of the bullish bias, expecting to move towards the previously recorded high at 168.70, waiting to surpass this obstacle to extend trades towards new stations that might start at 169.30 followed by reaching the major high at 171.00 on the medium term basis.
On the other hand, attempting to crawl below the additional support at 166.00 and getting negative close will increase the chances of forming correctional bearish trades that might force it to suffer some losses by reaching 165.30 and 164.20 levels.
The expected trading range for today is between 166.00 and 168.70
The expected trend for today: Bullish
Copper price presses on the support – Analysis – 22-6-2022
Copper price continued to provide weak sideways trades to settle near 3.9300 support line in order to find a way to resume the previously suggested negative attack, reminding you that the stability of 4.1800 barrier forms major factor to reinforce the negative attempts, which allows us to wait to achieve the required break to open the way to reach new negative stations that might start at 3.8000 followed by reaching 61.8% Fibonacci correction level at 3.6800.
The expected trading range for today is between 4.1000 and 3.8000
The expected trend for today: Bearish
No news for platinum price – Analysis – 22-6-2022
Platinum price still affected by the domination of the sideways bias, to notice its fluctuation above the key support 920.00 to hinder the waited negative attack and form weak waves by settling near 935.00.
We will stay neutral now, waiting to get the additional negative momentum to manage to achieve the required break and ease the mission of reaching the main negative stations represented by 890.00 and 855.00 levels.
The expected trading range for today is between 920.00 and 965.00
The expected trend for today: Neutral
Wheat price declines strongly – Analysis - 22-06-2022
Wheat price ended yesterday with strong negativity to reach the thresholds of the waited target at 972.80, and we expect the continuation of the negative pressure to break this level and open the way to suffer additional losses that reach 915.20 followed by 885.50.
Therefore, we expect to witness more decline in the upcoming sessions unless the price rallied to breach 1043.30 and hold above it.
The expected trading range for today is between 950.00 support and 1010.00 resistance.
The expected trend for today: Bearish