Copper price is confined within tight range– Forecast today – 5-5-2025
No change on Copper price’s temporary sideways trading, due to its confinement between the extra barrier at $4.6600, while the moving average 55 keeps forming a new support by its fluctuation near $4.5400, and stochastic attempt to provide positive momentum might assist delaying the negative trading in the current trading, to increase the chances for compensating the previous losses, by its rally above the current barrier and targeting 61.8%Fibonacci correction level at $4.8200.
Reaching below the support and providing a negative close will support the continuation of the suggested negativity, reminding you that the negative stations stability near $4.4500 and $4.3100 level.
The expected trading range for today is between $4.5300 and $4.6600
Trend forecast: Sideways
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GBPUSD rises carefully -Analysis-05-05-2025
The (GBPUSD) price rose on its intraday last trading, attempting to recover some of its previous losses, amid the dominance bearish correctional trend on the short-term basis and its trading alongside bias line, with the continuation of the negative pressure from its trading below EMA50, accompanied by the emergence of the negative signals on the (RSI), after reaching overbought levels previously.
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USDJPY attempts to gain positive momentum -Analysis-05-05-2025
The (USDJPY) price declined in its recent intraday trading, attempting to gain positive momentum that might assist it to recover and rise again, amid the dominance of the bullish correctional trend on the short-term basis and its trading alongside the bias line, with the continuation of the positive pressure due to its trading above EMA50, besides the emergence of the positive signals on the (RSI), after reaching oversold levels.
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USDCAD suffers negative pressures -Analysis-05-05-2025
The (USDCAD) price witnessed fluctuated trading on its intraday last trading, trading within a minor bearish channel that limits its previous trading on the short-term basis, and the negative pressure that was caused by its trading below EMA50, besides the emergence of the negative signals on the (RSI), on the other hand, the pair is stable until this moment above the critical support level at 1.3780.
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