The GBPJPY records some targets – Analysis – 26-3-2020
The GBPJPY pair touched 133.38 level yesterday to achieve some positive targets caused by exiting the bearish track, while we do not consider the current negative rebound as a threat to the bullish track due to 129.20 level forming new support against the current trades.
Therefore, we will keep our bullish overview, noting that it is important to breach the moving average 55 at 132.75 to increase the chances of reaching new positive stations that might start at 134.50 and 135.30 levels.
The expected trading range for today is between 129.20 and 132.75
The expected trend for today: Bullish
Copper price keeps the intraday positivity – Analysis – 26-3-2020
Despite Copper price’s recent slow trades, its stability above 2.0760 supports the correctional bullish trend, to repeat the pressure on 1.2100 level, while surpassing it might extend trades towards 2.2960 to test the main resistance that appears on the chart.
Stochastic exit from the oversold areas confirms getting rid of the negative pressures, allowing it to gather new positive momentum to ease the missions of reaching the previously suggested positive stations.
The expected trading range for today is between 2.0800 and 2.2500
The expected trend for today: Bullish
Platinum needs positive momentum – Analysis – 26-3-2020
Platinum price did not record and correctional positive target due to the lack of the positive momentum, to settle near 726.00 level, reminding you that the temporary bullish scenario depends on the stability of 710.00 level, to form initial support and assists to resume rising until reaching 790.00 in the upcoming period.
On the other hand, declining below the current support and holding below it will renew the domination of the bearish bias caused by the main consolidation within the bearish channel that appears on the chart, to expect suffering additional losses by reaching 660.00 followed by 550.00 levels.
The expected trading range for today is between 710.00 and 790.00
The expected trend for today: Bullish
Wheat price reaches the first target – Analysis - 26-03-2020
Wheat price succeeded to reach our first waited target at 577.00 – recording 576.60 level yesterday -, showing some bearish bias affected by the strength of the mentioned resistance, waiting to get enough positive momentum to push the price to resume the positive trading, as the overall positive scenario still valid as long as 557.30 remains intact.
Note that breaching 577.00 – 578.60 levels will open the way to head towards the previously recorded top at 590.50 as a next positive target.
The expected trading range for today is between 560.00 support and 580.00 resistance.
The expected trend for today: Bullish