The GBPJPY renews the negative attempts – Analysis – 21-9-2020
No escape to the GBPJPY pair from resuming forming new negative trades, due to its frequent consolidation below the initial barrier 136.65, besides getting continuous negative momentum by the major indicators.
We expect targeting 38.2% Fibonacci correction level soon at 133.70, while surpassing it might extend losses towards 31.90 followed by reaching the psychological barrier at 130.00.
The expected trading range for today is between 135.85 and 133.70
The expected trend for today: Bearish
Platinum settles within temporary sideways track – Analysis – 21-9-2020
No news for Platinum price that remains stable within the temporary sideways range due to its stability above the initial support 915.00, while 980.00 continues to form barrier against the main bullish attempts.
These factors confirm surrendering to the sideways bias domination, waiting to surpass 980.00 to reinforce the continuation of the positivity that might target 1040.00 initially, followed by reaching 1105.00 in the upcoming period.
The expected trading range for today is between 920.00 and 980.00
The expected trend for today: Fluctuated within the bullish range
Copper price continues the attempt to rise – Analysis – 21-9-2020
Copper price gained strong positive momentum recently after stochastic reached the overbought areas, to reinforce the affection by the bullish bias domination, noticing recording 3.1035 level, while the frequent stability within the bullish channel besides the stability of 3.000 support will increase the chances of surpassing 3.1200 level to open the way to record new targets that might extend to 3.1800 and 3.3000 levels.
The expected trading range for today is between 3.0000 and 3.1800
The expected trend for today: Bullish
Wheat price achieves strong gains – Analysis - 21-09-2020
Wheat price rallied upwards sharply after testing 557.30 level in the previous sessions, to reach the thresholds of 580.00 areas now, which supports the continuation of the expected bullish trend scenario on the intraday and short term basis, which its next main target located at 590.50.
The EMA50 keeps supporting the suggested bullish wave, which will remain valid and active unless breaking 557.30 level and holding below it.
The expected trading range for today is between 570.00 support and 590.00 resistance.
The expected trend for today: Bullish