Midday update for the GBPUSD 18-05-2022
The GBPUSD pair faces strong negative pressure to attack 1.2420 level and trades below it now, which urges caution from the upcoming trading, as confirming breaking this level will push the price to resume the main bearish wave and stop the bullish correction that dominated the recent trades, while consolidating above it will push the price to rise again and visit 1.2590 mainly.
Therefore, we prefer to stay aside until the price confirms its situation according to 1.2420 level followed by detecting the next targets clearly.
The expected trading range for today is between 1.2350 support and 1.2500 resistance.
The expected trend for today: Neutral
Midday update for the EURUSD 18-05-2022
The EURUSD pair traders negatively to move away from 1.0550 level, motivated by stochastic negativity, waiting for more decline for the rest of the day to achieve our targets start at 1.0480 and extend to 1.0350 after breaking the previous level, reminding you that the continuation of the bearish wave depends on the price stability below 1.0550.
The expected trading range for today is between 1.0450 support and 1.0600 resistance.
The expected trend for today: Bearish
Copper price is waiting for the negative momentum– Analysis – 18-5-2022
No news for copper price by forming new sideways trading, to keep delaying the negative attack, due to its neediness to the negative momentum until this moment, to settle near 4.2000, besides stochastic approach from 80 level confirms delaying the negativity, which force it to keep providing sideways trading in the current period.
Reminding you that the main bearish track will remain active due to the main stability below the resistance at 4.3800, if the price succeeds to gather the negative momentum so that will increase the chances for renewing the negative attempts, which target 3.9300 and 3.7000 level.
The expected trading range for today is between 4.3100 and 4.0000
The expected trend for today: Fluctuated within the bearish track.
Platinum price is surrounded by negative factors– Analysis – 18-5-2022
In spite of Platinum price’s slow trading, noting that there are several negative factors that are represented by the repeated stability below the resistance at 997.00, besides the unionism of the main indicators by providing negative momentum in the current period.
And that makes us keep the negative suggestion, to expect reaching 913.00 support and breaking it might extend the trading in the medium period to 855.00 reaching to 790.00 level, which forms the main target for the bearish attempts.
The expected trading range for today is between 980.00 and 913.00
The expected trend for today: Bearish