The GBPJPY pair ended its bullish rally by reaching 214.90, forming a strong barrier against the bullish attempts, which pushes it to activate the bearish corrective track, to reach 213.5 attempting to press on the bullish channel’s support that appears in the above image.

Note that stochastic decline below 50 level, and attempt to form extra barrier at 214.15 level, these factors makes us wait for breaking the current support, to reinforce the chances to begin gathering gains, to expect targeting 212.90 level initially, where breaking this barrier might extend the trading towards 212.45 and 212.00, while holding above 214.15 will confirm the continuation of the bullish scenario, waiting to reach 215.00. 

The expected trading range for today is between 212.90 and 214.00

Trend forecast: Bearish

Platinum price reached $2335.00 level by its bullish rally, to approach the suggested initial target in the previous report, forcing it to form bearish corrective waves due to its neediness to the positive momentum, to settle below %161.8 Fibonacci extension level at $2245.00, to suffer some losses by reaching $2010.00.

The continuation of facing negative pressures that might force it to attack extra support at $1950.00, where breaking it will open the way for resuming the corrective decline to target $1865.00 reaching $1780.

The expected trading range for today is between $1900.00 and $2250.00

Trend forecast: Bearish

Copper price announced delaying the bullish trend by providing new negative closure below $5.9700 level, affected by stochastic negativity, forming some bearish corrective waves to settle near $5.7500.

The continuation of suffering negative pressures will increase the efficiency of the bearish corrective track in the near period, which makes us prefer targeting $5.6200 level, repeating the pressure on the extra support at $5.5100, forming confirmation key for the trend of the medium trading.

The expected trading range for today is between $5.6200 and $5.9200

Trend forecast: Bullish

The (ETHUSD) price declined in its last intraday trading, breaking the key support at $2,070, amid the emergence of negative signals from relative strength indicators, after reaching overbought levels, with the continuation of the negative pressure due to its trading below EMA50, reinforcing the stability and dominance of the main bearish trend on short-term basis, especially with its trading alongside main and minor trend line that support this path.