Midday update for the GBPUSD 17-05-2022
The GBPUSD pair rallied upwards strongly to surpass our waited target at 1.2423 and opens the way to achieve more bullish correction, to head towards visiting 1.2590 areas as a next main station, taking into consideration that the continuation of the bullish wave requires holding above 1.2420.
The expected trading range for today is between 1.2400 support and 1.2520 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 17-05-2022
The EURUSD pair trades with clear positivity to breach 1.0435 level and opens the way to achieve bullish correction on the intraday basis, approaching to test 1.0490 level now, and we expect the continuation of the rise to visit 1.0525 level as a next positive target, making the bullish bias expected in the upcoming sessions unless breaking 1.0435 level and holding below it.
The expected trading range for today is between 1.0400 support and 1.0525 resistance.
The expected trend for today: Bullish for the rest of the day
Copper price keeps delaying the decline– Analysis – 17-5-2022
Copper price still need the negative momentum, to confirm delaying the negative attack by its rally above 4.1800, and the contradiction between stochastic positivity and the main negative stability below the resistance at 4.3800, so that increases the chances for forming mixed trading until gathering the negative momentum, to ease the mission for reaching the negative targets near 3.9300 and 3.700.
The expected trading range for today is between 4.3100 and 4.1000
The expected trend for today: Fluctuated
Platinum price gains a new negative momentum– Analysis – 17-5-2022
Platinum price suffered extra negative pressures by stochastic attempt to reach the oversold level, which forces it to keep forming bearish waves to settle below 950.00 level.
The stability of the moving average 55 near the main resistance at 997.00 level increases the chances for renewing the negative attempts, to expect reaching the support at 913.00, and breaking this support makes us expect suffering extra losses by its decline at 855.00.
The expected trading range for today is between 965.00 and 913.00
The expected trend for today: Bearish