Crude oil price returns to decline – Analysis - 15-08-2022
Crude oil price provided clear positive trades in the previous sessions to reach the thresholds of 94.50 level, but it bounced downwards strongly to surpass 91.45 level and settles below it, which puts the price under expected negative pressure in the upcoming sessions, on its way to achieve negative targets that start at 89.60 and extend to 87.40.
Therefore, the bearish bias will be suggested in the upcoming sessions unless breaching 91.45 and holding above it.
The expected trading range for today is between 88.00 support and 92.00 resistance.
The expected trend for today: Bearish
Silver price resumes the rise - Analysis - 15-08-2022
Silver price resumes its positive trading to move away from 20.00 level, reinforcing the expectations of continuing the bullish trend, supported by the EMA50 that carries the price from below, waiting for more rise to test 21.20 as a next target.
Stochastic current negativity might force the price to provide some temporary negative trades before resuming the expected rise, which will remain valid as long as 20.00 level remains intact.
The expected trading range for today is between 20.30 support and 21.00 resistance.
The expected trend for today: Bullish
Gold price achieves the first target – Analysis - 15-08-2022
Gold price managed to achieve our first waited target at 1802.80 and finds solid resistance there, to show some bearish bias affected by stochastic negativity, and it might witness some temporary decline before turning back to rise again.
In general, we will continue to suggest the bullish trend for the upcoming period supported by the EMA50 unless breaking 1779.25 and holding below it, noting that breaching 1802.80 will push the price to achieve additional gains that reach 1831.95.
The expected trading range for today is between 1780.00 support and 1815.00 resistance.
The expected trend for today: Bullish
The USDCAD draws positive pattern – Analysis - 15-08-2022
The USDCAD pair shows positive trades by today’s open to attempt to breach 1.2780 level, and by taking a deeper look at the chart, we find that the price is drawing positive formation that might push the price to turn to rise, which makes us prefer to stay aside until the price confirms its situation according to the mentioned level.
Note that confirming the breach will lead the price to achieve gains that start by visiting 1.2870 areas, while consolidating below it will reactivate the negative scenario that its next target located at 1.2685.
The expected trading range for today is between 1.2710 support and 1.2860 resistance.
The expected trend for today: Neutral