coffee price ended the last negative attack by facing key support level at 275.90, which forces it to provide mixed trading by its fluctuation near 287.30 level.
Note that the stability of the current support might motivate the price to form bullish corrective waves, attempting to recover some losses, to targe 302.00 level initially, reaching 317.00, while breaking the previously mentioned support and holding below it will confirm its surrender to the negative scenario, to expect suffering new losses by reaching 264.80.
The expected trading range for today is between 277.00 and 302.00
Trend forecast: Bullish
Despite providing bullish momentum by stochastic, however the fluctuation below the initial barrier at $3.520 level, which pushed it to form new bearish waves, repeating the pressure on the main support at $3.000.
The current support forms detecting key for the main trend in the upcoming trading, to expect its stability to begin forming new bullish waves, motivating it to surpass $3.520 barrier, to record new gains by its rally towards $3.750 and $4.000, while breaking the support and holding below it will force it to suffer big losses, to expect reaching $2.850 and $2.660 initially.
The expected trading range for today is between $3.000 and $3.520
Trend forecast: Bullish
The EURJPY pair provided slow trading due to its neediness to extra positive momentum, to keep providing mixed trading, keeping the positive stability above 180.80 support level.
Stochastic fluctuation near 80 level might motivate forming new bullish waves, to keep waiting to reach 183.40 initially, and surpassing it will open the way for recording extra gains that might begin at 184.05.
The expected trading range for today is between 181.80 and 184.05
Trend forecast: Bullish
The GBPJPY pair opened today’s trading positively, taking advantage of its stability above the sideways track’s support at 208.20 level, attempting to surpass 209.15 barrier.
Stochastic rally above 50 level will provide a new bullish momentum, which makes us wait for confirming breaching the current barrier to open the way of targeting several positive stations that might begin at 210.65 reaching the next main target near 211.70, while the decline below 208.20 and providing a negative close will confirm its move to a new bearish phase, which forces to suffer extra losses by reaching 207.05 initially.
The expected trading range for today is between 208.50 and 210.65
Trend forecast: Bullish