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Midday update for the GBPUSD 16-09-2019
The GBPUSD pair trades with a clear negativity now, to approach form testing the bullish channel’s support, as we mentioned this morning, the price needs to settle above 1.2370 level for the continuation of the expected bullish trend for today, getting a continuous support from the EMA50, reminding you that our main targets begin at 1.2520 and extend to 1.2665 after breaching the previous level.
The expected trading range for today is between 1.2400 support and 1.2580 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 16-09-2019
The EURUSD pair shows a bearish bias now, to move away from the bearish channel’s resistance, which supports the continuation of our bearish trend expectations for the rest of the day, targeting 1.0857 level mainly, supported by the negative pressure that comes from the EMA50, pointing that holding below 1.1085 is important for the continuation of the expected decline.
MoreCopper price hits the resistance – Analysis – 16-9-2019
Copper price achieved the required correctional target by hitting the bearish channel’s resistance at 2.7600, to form a strong barrier against the bullish trading, the current scenario depends on the strength of this resistance to expect renewing the negative attempts by its stability, which might target 2.6000 and 2.5500 in the near period.
MorePlatinum remains bullish – Analysis – 16-9-2019
Platinum price confirmed its affection by the bullish bias domination by providing repeated positive closes above 915.00 level, to keep the results of the inverted double top pattern, we expect renewing the bullish attempts by gaining extra positive momentum to target 980.00 level, and surpassing it will extend the trading to test 23.6% Fibonacci correction level at 1025.00.
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