Midday update for the GBPUSD 16-06-2022
The GBPUSD pair faces negative pressure to test 1.0275 level, which represents one of the next trend keys besides 1.2205 resistance, and as we mentioned this morning, the price needs to surpass one of these levels to detect the next targets clearly.
Therefore, we will continue with our neutrality until the price confirms breaching one of the mentioned levels, and to review the expected targets after the breach, please check our morning report.
The expected trading range for today is between 1.2030 support and 1.2250 resistance.
The expected trend for today: Depends on the above mentioned levels
Midday update for the EURUSD 16-06-2022
The EURUSD pair resumes its negative trading clearly to approach our waited target at 1.0355, and we expect to surpass this level to open the way to rally towards 1.0250 as a next negative station.
In general, the bearish trend scenario will remain valid for today unless breaching 1.0490 and holding above it.
The expected trading range for today is between 1.0355 support and 1.0510 resistance.
The expected trend for today: Bearish
Copper price repeats the negative closings – Analysis – 16-6-2022
Copper price still affected by the domination of the bearish bias due to the negative stability below 4.4300 resistance, to increase the chances of renewing the negative attack.
Note that stochastic attempt to exit the oversold areas might force the price to provide temporary sideways fluctuation until gathering the required negative momentum to reach the negative stations at 4.0500 and 3.9400.
The expected trading range for today is between 4.2600 and 4.0500
The expected trend for today: Bearish
Platinum price postpones the decline – Analysis – 16-6-2022
Platinum price failed to break 918.00 support line to postpone the negative attack and notice rallying towards 945.00, while the current trades might move within the sideways track between the mentioned support and 970.00 resistance.
Therefore, we will suggest the sideways trades again, to stay neutral until surpassing one of the major levels to manage to detect the next targets.
The expected trading range for today is between 920.00 and 970.00
The expected trend for today: Sideways