The GBPJPY pair settles in sideways range near 212.80 level, affected by the contradiction of the main indicators, to delay activating the previously suggested negative trend.

The price might recover more of the losses by its rally towards 213.50, reaching the moving average 55 near 213.85, but it will not affect the main bearish scenario, depending on the continuation of forming main barrier at 214.30 level against the current trading, note that breaking 211.80 level will ease the mission of forming strong waves, to expect reaching 211.20, repeating the pressure on 210.45 support.

The expected trading range for today is between 211.80 and 213.50

Trend forecast :fluctuated

Platinum price touched the 2097.00 level during yesterday’s trading before declining again below the key resistance at 2075.00$, leading to mixed trading as it currently fluctuates around $2055.00.

We reiterate that if the price manages to hold above the additional support level at 1950.00$, and as long as the main indicators continue to show positive momentum, this would keep us expecting confirmation of a breakout above the current resistance. This could strengthen the chances of achieving new gains starting at 2125.00$ and then 2190.00$ respectively.

The expected trading range for today is between $2000.00 and $2125.00

Trend forecast: Bullish

Copper price provided a new positive close above $5.9700 level, reinforcing the efficiency of the bullish trend, recording clear gains by reaching $6.2100, approaching the second suggested target in the previous report.

The price gets positive momentum by stochastic, which attempts to settle within the overbought level, increasing the chances of surpassing $6.2600 level, to expect its rally towards $6.3800 resistance in the near period. 

The expected trading range for today is between $6.0400 and$6.3800

Trend forecast: Bullish

Ethereum (ETHUSD) continued to decline during its recent intraday trading, under pressure from sustained movement below EMA50. This reflects the dominance of a strong short-term downward corrective wave, which continues to weigh on price action.

At the same time, the relative strength indicators are showing negative signals after briefly easing some of their oversold conditions, which opens the door for additional downside pressure in the near term.