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The GBPJPY moves away from the support – Analysis – 5-10-2021
The GBPJPY pair formed bullish rally yesterday, taking advantage of the bullish channel’s support line stability near 149.50, to notice achieving some targets by reaching 151.50, attacking the moving average 55 that formed an obstacle against the bullish trades recently.
Stochastic attempt to provide the positive momentum and the price fluctuation within the bullish channel allow us to suggest more positive attempts, to attempt to reach 152.20 level, while surpassing this barrier might extend trades towards 153.40 direct.
The expected trading range for today is between 150.45 and 152.20
The expected trend for today: Bullish
Platinum awaits the negative momentum – Analysis – 5-10-2021
Platinum price provided some negative trades yesterday by touching 946.00, to keep its stability within the main bearish channel, as the stability of the key resistance 987.00 and stochastic attempt to provide the negative momentum allow us to keep our bearish overview that might target 905.00 initially.
MoreNo news for copper price – Analysis – 5-10-2021
Copper price didn’t move since yesterday, due to the contradiction between stochastic against the moving average 55 formation to additional barrier at 4.2600, to continue providing sideways trades as appears on the chart.
MoreWheat price is forced for some decline – Analysis - 05-10-2021
Wheat price shows some slight bearish bias now, to move around 755.00, noticing that stochastic gains new positive momentum, waiting to assist to push the price to resume the bullish trend, which targets 782.20 as a next main station.
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