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The GBPJPY resist stochastic negativity – Analysis – 8-9-2023
The GBPJPY pair faced new negative pressures yesterday due to stochastic crawl below 50 level, which pushed the price to form temporary crawl below 183.50 level followed by bouncing quickly towards 184.20.
These factors confirm keeping the bullish scenario, to keep the main consolidation within the minor bullish channel that appears on the chart, also, succeeding to gather the additional positive momentum will assist to activate the bullish attack, to repeat the attempts to reach the positive stations, located now near 185.40 and 186.00.
The expected trading range for today is between 183.50 and 185.00
The expected trend for today: Bullish
Platinum price repeats the negative closings – Analysis – 8-9-2023
No change to platinum price bearish track due to moving away from the major resistance at 987.00, in addition to the negative consolidation below 50% Fibonacci correction level at 950.00.
MoreCopper price is weak – Analysis – 8-9-2023
Copper price shows weak trades recently, settling near 3.7200 level, affected by the negativity of the MA55 that consolidates now below the sideways range’s resistance line at 3.9200, also, the continuous stability of the sideways range support line at 3.6500 decreases the chances of moving towards the bearish track.
MoreSugar price surpasses the resistance – Analysis - 08-09-2023
Sugar price rallied upwards yesterday to breach 26.80 level and close the daily candlestick above it, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis, opening the way to head towards 27.50 that represents our next main target.
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