Copper price moves away from the obstacle– Forecast today – 30-4-2025
Copper price provided new negative close near $4.7500 level, to confirm the continuation of the suggested bearish scenario, depending on the stability below the barrier at $4.9100, despite the continuation of the previously main indicators contradiction, remains valid to keep waiting for reaching 50%Fibonacci correction level at $4.6600, and breaking it will lead the price to provide strong pressures on the moving average55 near $4.5400.
The expected trading range for today is between $4.6600 and $4.8400
Trend forecast: Bearish
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GBPUSD attempts to gain positive momentum -Analysis-30-04-2025
The (GBPUSD) price witnessed calm downside moves in its last trading on the intraday levels, affected by the stability of the critical resistance at 1.3420, and the main overview remains prefer the positivity, especially with the stability of the price above EMA50, which reinforces the chances for a bullish rebound any moment, to attempt to gain positive momentum that might assist it to breach this resistance.
The continuation of the trading alongside a bullish bias line on the short-term basis, besides the emergence of the positive signals on the (RSI), suggesting a potential regain for the positive momentum, which increases the possibilities from breaching the mentioned resistance.
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USDJPY succeeded in offloading its oversold conditions -Analysis-30-04-2025
The (USDJPY) price settled on sideways fluctuated range in its last trading on the intraday levels, after leaning on the support of EMA50, providing some of the positive momentum, which makes the price succeed to offload the oversold conditions that appear on the (RSI), and the negative signals begin to emerge, which shows the continuation of the negative pressures on the price, amid the domination of the main bearish trend on the short-term basis and trading alongside trendline.
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USDCAD amid negative expectations -Analysis-30-04-2025
The (USDCAD) price declined in its last trading on the intraday levels, trading within a minor bearish channel on a short -term basis, suffering from the negative pressure due to its continuous trading below its EMA50, besides the continuation of the negative signals on the (RSI), despite reaching oversold levels.
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