The EURJPY pair continued forming bearish correctional trading, to keep gathering the gains of the last bullish attack, hitting the 166.00 level, which represents the extra support level for the current trading.

Stochastic exit from the overbought level might force the price to renew the pressure on the current support, where breaking it will confirm its readiness to resume the attempts of gathering the gains by reaching 165.45 and 165.00, while activating the bullish track requires forming a strong bullish rally to settle above 167.35 level, then targeting new positive stations that begin at 168.00 and 168.90.

The expected trading range for today is between 165.45 and 166.85

Trend forecast: Fluctuated within the bullish track

The GBPJPY pair faced new negative pressure by stochastic reach below 50 level, which forces it to attack the support of the minor bullish channel’s support and suffer some losses by hitting 194.00 level, facing 50% Fibonacci correction level.

We expect the price to be affected by the instability and providing mixed trading, to keep waiting for confirming the main trend, depending on the next close, so the repeated stability above 194.40 will reinforce the bullish scenario to assist to breach the barrier at 195.70 reaching the next target at 196.60, while the stability below 194.00 will confirm the dominance of the bearish bias domination in the near trading, to expect suffering big losses by reaching 192.85.

The expected trading range for today is between 194.00 and 195.10

Trend forecast: Neutral

Platinum price succeeded in extending the gains range by surpassing the barrier at $1275.00 yesterday, to notice recording big losses by hitting $1348.00 level, facing the achieved historical top.

Notet that providing positive momentum by stochastic by its rally to 80 level might assist reinforcing the chances for targeting new historical stations that might extend to $1368.00, noting that holding above $1275.00 is important for avoiding any losses that might be caused by changing the bullish trend.

The expected trading range for today is between $1300.00 and $1368.00

Trend forecast: Bullish

Copper price took advantage of the positive momentum that comes from stochastic approach from 80 level, forming bullish waves and attacking 61.8%Fibonacci correction level at $4.8100.

The positive factors specifically the stability of the extra support at $4.6600 will increase the chances for the trading’s rally near the target at $4.8900, reminding you that surpassing it will ease the mission of achieving extra gains that might extend to $5.0300.

The expected trading range for today is between $4.7400 and $4.8900

Trend forecast: Bullish