Copper price declined below the support– Forecast today – 9-5-2025
Copper price failed to settle above the extra support at $4.5400 by stochastic negative momentum, to push it to suffer several losses by hitting $4.4200, to settle below the moving average 55.
The continuation of the negative pressures makes us prefer more of the negative trading in the current period, to target $4.3200 level, while regaining the bullish bias requires forming strong bullish waves, to settle above $4.6600 level, which represents %50 Fibonacci correction level.
The expected trading range for today is between $4,3800 and $4.5800
Trend forecast: Bearish
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GBPUSD breaks the neckline of triple top -Analysis-09-05-2025
The (GBPUSD) price declined in its recent intraday trading, breaking the critical support level at 0.3260, which represents a neckline for clear negative formation on the short-term basis – the triple top pattern, which reverses the previous bullish trend. This break is considered as a strong technical signal for turning the price behavior, supporting the continuation of the dominant bearish correctional wave on the price.
This negative performance comes amid the continuation of the negative pressures, with the stability of the price below EMA50, besides the emergence of the negative signals on the (RSI), despite its stability below 0.3260, to target the support at 1.3160.
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USDJPY in a truce to catch its breath -Analysis-09-05-2025
The (USDJPY) price declined in its recent intraday trading, attempting to gather the gains of its previous rises, to gather its positive strength that might help it to resume the strong bullish wave, and it attempts to offload some of its clear overbought conditions on the (RSI).
This performance comes amid the dominance of the bullish correctional trend on the short-term basis, with its stability above the resistance of 145.50, this level represents 50% Fibonacci correction level for the last bearish wave on the short-term basis(from 151.20 to 139.88)
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USDCAD extends its gains -Analysis-09-05-2025
The (USDCAD) price rose in its recent intraday trading, to confirm breaching the key resistance at 1.3900, amid the dominance of a bullish correctional wave on the short-term basis, affected by a positive technical pattern that was formed on the short-term basis (the falling wedge pattern), supported by its continuous trading above its EMA50.
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