Copper price settles above the support– Forecast today – 8-5-2025
Copper price was affected by the US data yesterday, delaying its bullish rally to reach $4.5400, to test the initial support and settles above it, to keep the chances for activating the bullish track again.
The price needs the positive momentum to surpass $4.6600 level then repeats the attempts of recording the targets by reaching $4.8100 and $4.9000.
The expected trading range for today is between $4,5400 and $4.7300
Trend forecast: Bullish
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GBPUSD breaks a bullish bias line -Analysis-08-05-2025
The (GBPUSD) price declined in its recent intraday trading, with the emergence of the negative signals on the (RSI), despite reaching overbought levels, to surpass the support of its EMA50, which put it under extra negative pressures that led it to break a bullish trend line on a short-term basis, this performance comes due to the domination of a bearish correctional wave
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USDJPY gets ready to attack its current resistance -Analysis-08-05-2025
The (USDJPY) price settled on a rise in its recent intraday trading, supported by its trading above EMA50, and under the dominance of a bullish correctional wave on the short-term basis, alongside the bias line, the pair is preparing to attack the current resistance level at 144.00.
On the other hand, we notice the beginning of negative overlapping signals appearance on the (RSI), after reaching overbought levels, which might decelerate the rise and provide chances for bearish correctional rebounds that the price attempt to use it to offload these overbought conditions and gain the required positive momentum to breach the mentioned resistance.
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USDCAD breaches the top of a positive technical formation -Analysis-08-05-2025
The (USDCAD) price declined slightly in its recent intraday trading, to gather the gains of its previous rises, and attempts to gain positive momentum that might assist it to recover and rise again.
The price is affected by breaching a previously- formed positive technical formation on the short-term basis, which is the falling wedge pattern, accompanied by surpassing the resistance of its EMA50, to get rid of its negative pressure.
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