Category: Forex News, News
The EURJPY hits the initial target– Forecast today – 28-5-2025
Copper price began moving between Fibonacci correction levels that were measured from the price decline from $5.320 reaching to the bottom at $4.000, to notice its confinement between 50%Fibonacci correction level at $4.6600, which represents an extra barrier against the bullish attempts, while 61.8% Fibonacci correction level at $4.8100 represents a barrier against the bullish rally.
The continuation of the price fluctuations bearishly and forming an extra strong barrier at $4.8900 level, we will return to prefer the negativity in the near trading, to expect reaching the moving average 55 at $4.5650, then attempting to press on $4.5000, while surpassing the bearish scenario requires positive closes above $4.8900 level in the near trading.
The expected trading range for today is between $4.5600 and $4.7400
Trend forecast: Bearish
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Written by : Editorial team of BIPNs
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