Midday update for the GBPUSD 24-05-2022
The GBPUSD pair trades with strong negativity after facing solid resistance at 1.2590, to head towards potential test to the key support 1.2420 in the upcoming sessions, making the bearish bias suggested for the rest of the day, being aware that it is important to monitor the price when reaching the mentioned target, as breaking it will press on the price to resume the main bearish track again, while breaching 1.2590 represents the key to resume the correctional bullish wave on the intraday basis.
The expected trading range for today is between 1.2420 support and 1.2560 resistance.
The expected trend for today: Bearish for the rest of the day
Midday update for the EURUSD 24-05-2022
The EURUSD pair rallied upwards strongly to move away from 1.0670 level, reinforcing the expectations of continuing the bullish trend, and the way is open to achieve our next waited target at 1.0770, supported by the EMA50, noting that holding above 1.0670 is important to continue the expected rise.
The expected trading range for today is between 1.0600 support and 1.0760 resistance.
The expected trend for today: Bullish
Copper price repeats the positive closes– Analysis – 24-5-2022
Copper price repeated providing positive closes above 38.2% Fibonacci correction level, to form a temporary support at 4.1800, to increase the chances for resuming the bullish correctional attempts to record 4.3500 level, note that the continuation of providing positive momentum by stochastic will ease the mission of reaching the resistance at 4.4000, to monitor the price behavior, which allows us to detect the main targets for the upcoming trading.
The expected trading range for today is between 4.2500 and 4.4000
The expected trend for today: Bullish
Platinum price is waiting to liberate– Analysis – 24-5-2022
No change for Platinum price’s sideways repeated fluctuation within the sideways track by the stability of the main levels at 980.00 as an obstacle against the bullish attempts, while 915.00 level keeps forming a strong support to decelerate the chances for moving to the bearish track.
Reminding you that the price success to breach the mentioned barrier, so that will allow it to form strong bullish trading, to target several gains starting at 1040.00, while reaching below the support and providing negative close will force it to suffer big losses by reaching 890.00 and 855.00.
The expected trading range for today is between 980.00 and 930.00
The expected trend for today: sideways