The GBPJPY pair provided new negative close in Friday’s trading below 200.45 level barrier, which forces it to form some bearish correctional trading, to settle near 199.55.
By the above image, we notice stochastic reach below 50 level, to provide the extra negative momentum, to confirm the dominance of the bearish correctional bias, which makes us keep the bearish suggestion until reaching the negative station near 198.60 and 197.80.
The expected trading range for today is between 198.60 and 200.40
Trend forecast: Bearish
Platinum price benefited from the positive pressure that comes from its repeated positive stability above the moving average 55 besides forming extra support at $1355.00, activating the bullish attack by surpassing $1400.00 level and holding near $1412.00, achieving some suggested gains.
Note that the continuation of stochastic fluctuation near 80 level will increase the chances for gathering the required extra positive momentum for resuming the bullish attempts until reaching extra stations near $1422.00 and $1435.00.
The expected trading range for today is between $1390.00 and $1422.00
Trend forecast: Bullish
Despite the weakness of copper price’s last trading, its stability above the moving average 55 and its stability within the bullish channel’s levels support the chances of activating the suggested bullish attack.
The stability of the extra support at $4,2600 is important for the continuation of providing positive momentum by stochastic, which will motivate surpassing $4.6200 obstacle, to extend the trading towards the next target near $4.7500, reaching $4.9500 in the medium period trading.
The expected trading range for today is between $4.5000 and $4.7500
Trend forecast: Bullish
The (ETHUSD) price declined in its last intraday trading, amid the continuation of the negative pressure due to its trading below EMA50, with the emergence of the negative signals on the relative strength indicators, breaking the main bullish trend line on the short-term basis, intensifying the negative pressures on its upcoming moves, increasing the chances of deepening its losses on the near-term basis.
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