Corn price achieves the additional negative targets – Analysis - 22-06-2022
Corn price declined strongly yesterday to surpass our first extended negative target at 715.00 and approaches 703.50, and we expect the continuation of the negative pressure to surpass the last level and suffer more losses on the intraday and short term basis, on its way to visit 680.00 as a next negative station.
Therefore, the bearish trend scenario will remain active for the upcoming period unless the price rallied to breach 731.60 and hold above it.
The expected trading range for today is between 690.00 support and 725.00 resistance.
The expected trend for today: Bearish
The USDCHF awaits the break – Analysis - 22-06-2022
The USDCHF pair continues to fluctuate inside the bearish pennant’s pattern, waiting to break 0.9630 to get negative motive that assist to push the price to head towards 0.9525 that represents our main negative target.
Therefore, our bearish overview will remain valid and active unless breaching 0.9730 and holding with a daily close above it.
The expected trading range for today is between 0.9600 support and 0.9700 resistance.
The expected trend for today: Bearish
The NZDUSD declines again – Analysis - 22-06-2022
The NZDUSD pair faces clear negative pressure by today’s open to break the intraday bullish trend line and turn to decline, on its way to test 0.6210 as a first negative target, noting that breaking this level will extend the bearish wave to reach 0.6150 followed by 0.6100 levels as next main stations.
Therefore, the bearish bias will be suggested in the upcoming sessions unless breaching 0.6345 and holding above it.
The expected trading range for today is between 0.6210 support and 0.6310 resistance
The expected trend for today: Bearish
The AUDUSD breaks the support – Analysis - 22-06-2022
The AUDUSD pair opens today’s trading with clear negativity to attack 0.6930 level and attempts to hold below it, which puts the price under expected negative pressure in the upcoming sessions, targeting visiting the previously recorded low at 0.6830 mainly.
Therefore, the bearish bias will be suggested for today unless breaching 0.6930 followed by 0.6995 levels and holding above them.
The expected trading range for today is between 0.6860 support and 0.6960 resistance
The expected trend for today: Bearish