Midday update for the GBPUSD 12-05-2022
The GBPUSD pair resumes its negative trades to surpass our expected target at 1.2200 and confirms the continuation of the bearish trend in the upcoming sessions, reminding you that our next target reaches 1.2080, affected by the previously completed bearish pennant pattern, reminding you that it is important to hold below 1.2310 to continue the expected bearish trend.
The expected trading range for today is between 1.2130 support and 1.2290 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 12-05-2022
The EURUSD pair traded with strong negativity to succeed achieving our waited target at 1.0450 and presses negatively on it, to support the chances of continuing the domination of the bearish trend on the intraday and short term basis, noting that the next target extends to 1.0325, taking into consideration that holding below 1.0510 represents initial condition to continue the suggested bearish wave.
The expected trading range for today is between 1.0400 support and 1.0510 resistance.
The expected trend for today: Bearish
Copper price repeats the sideways fluctuation – Analysis – 12-5-2022
Copper price didn’t show any move until this moment, to continue providing weak sideways trades near 4.2000, attempting to gather the additional negative momentum, while in general, the bearish overview will remain valid as long as 4.3700 resistance remains intact, waiting to form new negative trades to manage to reach the negative stations at 4.0500 and 3.6700.
The expected trading range for today is between 4.2600 and 4.0500
The expected trend for today: Bearish
Platinum price settles below the resistance – Analysis – 12-5-2022
Platinum price confirmed surrendering to the negative trades by providing new negative close below 1000.00 resistance, facing the moving average 55, which allows us to wait to gather the negative momentum to assist to renew the negative attempts and manage to press on 950.00, while surpassing it allows us to wait t reach 915.00 support line.
We remind you that surpassing the current resistance will postpone the bearish attack to start forming correctional bullish trades that might push it to reach 1040.00 initially.
The expected trading range for today is between 1000.00 and 940.00
The expected trend for today: Bearish