Midday update for the GBPUSD 10-05-2022
The GBPUSD pair shows sideways trades since morning and settles around 1.2340, thus, no change to the bearish trend scenario that depends on the price stability below 1.2410, organized inside the bearish channel that supports the chances of heading towards our next main target at 1.2200.
The expected trading range for today is between 1.2270 support and 1.2440 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 10-05-2022
The EURUSD pair continues to fluctuate around 1.0580 level and still below it, to keep our bearish overview that depends on the price stability below this level, and the EMA50 meets the mentioned resistance to add more strength to it, noting that breaking 1.0545 will ease the mission of heading towards our waited negative target at 1.0450.
The expected trading range for today is between 1.0480 support and 1.0640 resistance.
The expected trend for today: Bearish
Copper price confirms the negativity– Analysis – 10-5-2022
Copper price formed a new bearish wave by its decline below the barrier at 4.1800, to notice recording 2.1000 level, forming a temporary rebound in order to gather an extra negative momentum in the current period trading.
Reminding you that the negative track will remain valid depending on the stability of the resistance at 4.3600, the unionism of the main indicators and providing negative momentum makes us keep the negative expectations until reaching the main stations at 4.0500 and 3.6700 level.
The expected trading range for today is between 4.2600 and 4.0500
The expected trend for today: Bearish
Platinum price repeats the negative fluctuation – Analysis – 10-5-2022
Platinum price touched 930.00 level, confirming its affection by the repeated negative pressures that depend on the continuation of providing negative momentum by the main indicators in the last period, so the stability of the moving average 55 near the resistance at 1000.00 confirms the confinement within the negative track in the current period, to increase the chances for reaching the support near 915.00, which forms the main target in the current trading.
Note that the price success to break the targeted support and holding below it will confirm its move to a new bearish track, to expect targeting new negative levels that might begin at 855.00.
The expected trading range for today is between 980.00 and 915.00
The expected trend for today: Bearish