The GBPJPY gains the positive momentum – Analysis – 5-7-2022
The GBPJPY pair succeeded to gather the positive momentum yesterday, to decrease the chances of suffering additional losses by rallying above 164.60 level, while the price needs to get daily close above the breached barrier to manage to start achieving gains by rallying towards 166.30 followed by 168.70 levels.
On the other hand, crawling below 164.60 will force the price to postpone the bullish attack, to start providing correctional negative trades that might force it to decline towards 163.30 followed by reaching the moving average 55 at 161.00.
The expected trading range for today is between 164.30 and 166.30
The expected trend for today: Bullish
Platinum price moves slowly – Analysis – 5-7-2022
Despite the factors that confirm the domination of the bearish bias, platinum price fluctuates slowly near 885.00, reminding you that the frequent negative stability below 925.00 forms major factor to reinforce the bearish scenario, allowing us to wait to form new negative wave to press on the initial support at 855.00.
Stochastic decline towards 20 level will increase the chances of achieving the required break, to ease the mission of recording new negative targets that might extend towards 825.00 and 790.00 levels.
The expected trading range for today is between 900.00 and 855.00
The expected trend for today: Bearish
Copper price prepares to resume the decline – Analysis – 5-7-2022
Copper price confirmed its preparation to resume the negative attack by fluctuating near 3.5500 level, attempting to take advantage of the negative momentum, assuring the importance of breaking 50% Fibonacci correction level at 3.4900 to open the way to target new negative stations that start at 3.4100 and 3.3300.
The expected trading range for today is between 3.7000 and 3.4100
The expected trend for today: Bearish
The USDCHF loses momentum – Analysis - 05-07-2022
The USDCHF pair hovers around the EMA50, keeping its stability below 0.9630, while stochastic shows new negative signals now.
Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which targets testing 0.9525 as a first station, while achieving it requires holding below 0.9630.
The expected trading range for today is between 0.9525 support and 0.9650 resistance.
The expected trend for today: Bearish