The GBPJPY repeats the positive attempts – Analysis – 4-8-2022
The GBPJPY pair reinforced the chances of renewing the bullish attempts by fluctuating above the moving average 55 recently, located near 161.70, to surpass the first positive target at 162.80.
Stochastic continuous attempt to provide the positive momentum will allow the price to resume the bullish attack, to expect moving towards 163.45 soon, assuring the importance of surpassing this obstacle to move towards the next target at 164.55.
The expected trading range for today is between 162.10 and 163.45
The expected trend for today: Bullish
Platinum price loses the positive momentum – Analysis – 4-8-2022
Platinum price reinforced the chances of renewing the negative attempts by settling below 925.00 resistance, in addition to the lack of the positive momentum by stochastic decline below 50 level, which will force it to suffer some losses by moving towards 875.00 and 855.00 levels.
On the other hand, succeeding to breach the mentioned resistance and getting positive close will assist to reinforce the chances of resuming the correctional bullish attack, to attempt to reach 950.00 and 980.00 levels.
The expected trading range for today is between 925.00 and 855.00
The expected trend for today: Bearish
Copper price still bullish – Analysis – 4-8-2022
Despite copper price recent negative wave, that won’t affect the correctional bullish track that depends on the stability of the major support at 3.1300, also, stochastic continuous attempt to provide the positive momentum might assist to renew the positive attempts that might target 3.6300 followed by waiting to reach 38.2% Fibonacci correction level at 3.8500.
The expected trading range for today is between 3.3500 and 3.6300
The expected trend for today: Bullish
Wheat price keeps declining – Analysis - 04-08-2022
Wheat price shows more bearish bias to keep approaching our waited negative target at 744.40, reinforcing the expectations of continuing the bearish trend, supported by the negative pressure formed by the EMA50.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 820.00 will stop the suggested negative scenario and lead the price to test 885.50 areas before any new attempt to decline.
The expected trading range for today is between 750.00 support and 800.00 resistance.
The expected trend for today: Bearish