|
Copper price keeps the positivity – Analysis – 8-8-2022
No change to copper price correctional bullish track by settling above 3.5000 level, which increases the chances of resuming achieving the gains, to expect targeting 3.6300 followed by attempting to press on 38.2% Fibonacci correction level at 3.8600.
Also, stochastic approach to 80 level will assist to provide the required positive momentum to form new bullish waves until reaching the mentioned targets.
The expected trading range for today is between 3.4500 and 3.6300
The expected trend for today: Bullish
The USDCHF tests the resistance – Analysis - 08-08-2022
The USDCHF pair rallied upwards to test the key resistance 0.9630, keeping its stability below it until now, accompanied by witnessing clear negative signals through stochastic, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets testing 0.9530 initially.
On the other hand, we should note that breaching 0.9630 and holding above it will stop the expected decline and lead the price to achieve additional gains on the intraday and short term basis.
The expected trading range for today is between 0.9540 support and 0.9660 resistance.
The expected trend for today: Bearish
The NZDUSD breaks the support – Analysis - 08-08-2022
The NZDUSD pair broke 0.6257 level strongly and settled below it, to fall under expected negative pressure in the upcoming sessions, targeting visiting 0.6182 level mainly.
Therefore, the bearish bias will be suggested for today, noting that breaching 0.6257 and holding above it again will reactivate the positive scenario that its next target located at 0.6318.
The expected trading range for today is between 0.6180 support and 0.6280 resistance
The expected trend for today: Bearish
The AUDUSD faces negative pressure – Analysis - 08-08-2022
The AUDUSD pair traded with strong negativity in the previous sessions to attack 0.6910 level, but it closed the daily candlestick exactly at this level, to start today with bullish bias that hints heading to resume the bullish trend, which its targets begin at 0.6980 and extend to 0.7050.
Therefore, our bullish overview will remain valid and active conditioned by the price stability above 0.6910.
The expected trading range for today is between 0.6880 support and 0.7000 resistance
The expected trend for today: Bullish