Copper price activates positively– Forecast today – 6-5-2025
Copper price began activating with the positivity of the main indicators, forming some of the bullish waves, to settle above $4.660 level, attempting to regain the bullish attempts, and the stability of the moving average 55 near the support at $4.5400 reinforces the chances for targeting positive stations, to wait to reach $4.7300, then repeating the pressure on %61.8 Fibonacci correction level near $4.8200.
Noting that reaching below the mentioned support and providing negative closes below it, will assist to confirm the negative scenario again, to expect suffering several losses by reaching $4.4500 and $4.3100.
The expected trading range for today is between $4.5900 and $4.7300
Trend forecast: Bullish
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The (GBPUSD) suffers negative pressures -Analysis-06-05-2025
The (GBPUSD) declined in its recent intraday trading, where it keeps moving within a bearish correctional wave on the short-term basis, trading alongside the bias line, with the continuation of the technical pressures that come from its trading below EMA50, the pressures increase with the continuation of the negative signals on the (RSI), reinforcing the possibilities for the continuation of the decline in the upcoming trading.
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The (USDJPY) gets a positive push -Analysis-06-05-2025
The (USDJPY) rose in its recent intraday trading, leaning on a bullish correctional bias line on the short- term basis, accompanied by leaning on the support of the EMA50, reinforcing this area as a support for the upside track, especially, with the emergence of the positive signals on the (RSI), after reaching oversold levels.
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The (USDCAD) attempts to gain positive momentum -Analysis-06-05-2025
The (USDCAD) rose in its recent intraday trading, supported by the stability of the critical support at 1.3780, with the emergence of the positive signals on the (RSI), the last rise of the price led it to test the top of a minor bearish channel that limits its previous trading on the short-term basis, accompanied by reaching the resistance of EMA50, which increases the strength of this area as a resistance against the price rise.
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