Platinum price repeats the negative closes– Forecast today – 2-5-2025
Despite the Platinum price’s affection by the dominance sideways range trading and its repeated fluctuation near $983.00 level, the bearish scenario will remain valid by the continuation of its fluctuation below the barrier at $983.00 level.
Stochastic reach below the 50 level will increase the chance of gaining negative momentum, to keep our bearish expectations, which might target the $950.00 level, and breaking it will confirm its readiness to resume the negative attack and reach the next target near $938.00
The expected trading range for today is between $938.00 and $975.00
Trend forecast: Bearish
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Copper catches its breath– Forecast today – 2-5-2025
Copper price surrendered to the positivity of the moving average55, which represents extra support near $4.5400, to begin recovering some of the losses by its current rally towards $4.6300, this rebound will not threat the negative track, due to the main stability below the resistance at $4.9100, besides 50% Fibonacci correction level attempt to form an extra barrier at $4.6600.
And that makes us wait for gathering negative momentum to ease the mission of holding below the moving average 55, then targeting more negative stations by reaching $4.4500 reaching the next main target at $4.3100.
The expected trading range for today is between $4.6600 and $4.4500
Trend forecast: Bearish
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GBPUSD attempts to recover some of its losses -Analysis-02-05-2025
The GBPUSD witnessed slight bullish rebounds on the intraday levels, attempting to recover some of its previous losses, and it succeeded in offloading some of the oversold conditions on the (RSI), the negative signals return, which indicates the dominance of the selling powers.
The price is affected by breaking a minor bullish trend line on the short- term basis, with the continuation of the negative pressure, due to its trading below EMA50.
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USDJPY continues the rise -Analysis-02-05-2025
The USDJPY continues the rise in its recent intraday trading, to breach the current resistance at 145.30, amid the dominance of a bullish correctional wave, reinforced by the price move alongside the bias line, affected by breaching a main bearish bias line previously on the short-term basis, on the other hand, we notice the reach of the (RSI) to oversold levels, which decreases the positive momentum and decreases the strength and speed of the price.
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