The GBPJPY postpones the bullish attack – Analysis – 6-7-2022
The GBPJPY pair failed to hold above 164.60 level, which forced it to postpone the bullish attack by forming correctional bearish waves, suffering clear losses by reaching 161.50.
We notice stochastic crawl towards 20 level, to increase the chances of gathering the negative momentum, allowing us to suggest more negative trades that might target 160.80 followed by reaching 50% Fibonacci correction level at 159.55.
The expected trading range for today is between 162.80 and 160.80
The expected trend for today: Bearish
Platinum price hits the target – Analysis – 6-7-2022
Platinum price reacted to the negative pressures represented by the negative stability below 925.00 in addition to the negative momentum coming by the major indicators, to manage to record the target at 855.00.
These factors support the continuation of the negativity, to expect forming new negative attack to assist to reach new stations that might start at 825.00 and 790.00.
The expected trading range for today is between 885.00 and 825.00
The expected trend for today: Bearish
Copper price suffers big losses – Analysis – 6-7-2022
Copper price succeeded to break 3.4900 level, to reinforce the domination of the bearish bias, noticing suffering big losses by reaching 3.3400, achieving the targets mentioned in our previous report.
Stochastic negative momentum signals will increase the chances of forming new bearish waves, to attempt to reach 61.8% Fibonacci correction level at 3.1400 as a next main target.
The expected trading range for today is between 3.4500 and 3.1400
The expected trend for today: Bearish
Wheat price achieves the extended negative targets – Analysis - 06-07-2022
Wheat price declined strongly to surpass our first negative target at 855.00 and reach the extended target at 800.00, expecting the continuation of the negative pressure to head towards 744.40 areas on the near term basis, supported by the EMA50.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 885.50.
The expected trading range for today is between 760.00 support and 830.00 resistance.
The expected trend for today: Bearish