Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD

NZD USD surpasses the critical barrier 17/05/2013

Economies.com
2013-05-17 04:04AM UTC

The pair managed to provide a daily close below 0.8173, confirming our suggested bearish trend expectations in our last report, and open the way to hit targets that begin at 0.8060 and extend towards 0.7920

 

Stochastic positivity might cause some temporarily fluctuations and a retest to the broken support before resuming the suggested bearish trend.

 

Expected trading range for today is between: 0.7980 support and 0.8360 resistance.

 

Expected trend for today: Bearish

AUD USD opens the way for more decline 17/05/2013

Economies.com
2013-05-17 04:03AM UTC

The pair settled with a daily close below 0.9825, to confirm more short term bearish trend, and the target now located at 0.9580

 

Carefully note that 0.9580 level has the medium term trend key, as a break for this level will confirm more decline that its targets go to 0.9225 and 0.9000, while on the other hand, breaching above 0.9930 will stop the bearish trend to begin recovery attempts and a return to the long term bullish trend.

 

Expected trading range for today is between: 0.9765 support and 0.9975 resistance.

 

Expected trend for today: Bearish

Crude Oil breaches the resistance 17/05/2013

Economies.com
2013-05-17 04:03AM UTC

Crude oil price leaned well on the EMA50, to rise surpassing 94.65 level, which opens the way for more intraday positive attempts that aim to test 96.90 level.

 

In general, we will suggest the domination of the sideways trading on the intraday basis, while this sideways range barriers are represented by the 92.50 support and 96.90 resistance, until being able to surpass one of the these levels and provide clearer signals for the next short term trend.

 

Expected trading range for today is between: 92.50 support and 97.60 resistance.

 

Expected trend for today: Sideways

Silver below the moving average 17/05/2013

Economies.com
2013-05-17 04:03AM UTC

Silver price found solid resistance at the EMA50, this resistance stopped the recent positive trading, which forced the price to decline resuming the suggested bearish scenario depending on breaking the sideways range support that appears in the image, besides the previously explained lower tops formation.

 

The waited targets begin at 22.00 followed by 20.90, noting that breaching above 22.80 will provide a positive motive that will push the price to trade again inside the previously broken sideways range.

 

Expected trading range for today is between: 20.90 support and 23.50 resistance.

 

Expected trend for today: Bearish