The GBPJPY pair failed to confirm breaking 188.00 level, which pushes it to form a new bearish rebound, testing the resistance at 189.90, to settle below it, attempting to confirm the continuation of the suggested bearish scenario, to settle near 188.80.

Providing negative momentum by the main indicators will increase the chances for the negative attack, confirming breaking the obstacle at 188.00 makes us expect targeting the negative stations near 187.10 and 186.50.

The expected trading range for today is between 187.10 and 189.80

Trend forecast: Bearish

Platinum price failed to enter the bullish channel’s levels by its repeated stability below the $972.00 level, which forces it to provide mixed trading, to notice its stability near the moving average 55 at $962.00.

Note that the price success to settle above the extra support at $950.00 will reinforce the chances for gathering the required extra positive momentum to renew the pressure on the resistance at $974.00 and surpassing it will confirm regaining the bullish bias to extend the trading towards $994.00 reaching the next main target at $1005.00.

The expected trading range for today is between $955,00 and $974.00

Trend forecast: Bullish

Copper price’s trading extended towards 68% Fibonacci correction level, recording the second target at $4.9000, to form an extra barrier against the bullish rally.

We expect price affection by some of the negative pressures, especially, stochastic attempts to exit the overbought level, which might increase the chances for activating the bearish correctional track and suffering some losses by reaching $4.7700 and $4.6800, while the price success to breach the obstacle will reinforce the chances for recording new gains that might extend towards $4.9600 reaching the next barrier near $5.0300.

The expected trading range for today is between $4.7700 and $4.900

Trend forecast: Fluctuated within the bullish track

The EURUSD price rose in its last intraday trading, after leaning on the support of the EMA50, which assisted it to bounce higher to attempt to compensate some of yesterday’s losses, attempting to offload some of its oversold conditions that appear on the (RSI), which represents a signal for forming positive divergence that reinforces the chances of temporary rebound.

Despite this, the EURUSD remains under negative pressure due to the formation of a negative technical pattern on the short-term basis (the rising wedge)which formed in the end of the bullish wave, reinforcing the chance for a decline in the future.