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Midday update for the AUDUSD 12-03-2020
The AUDUSD pair succeeded to touch our waited target at 0.6430 and surpasses it now to settle below it, which supports the expectations of extending the bearish wave on the short term basis, paving the way to head towards our next target that reaches 0.6230.
Therefore, the bearish trend will remain dominant in the upcoming sessions conditioned by the price stability below 0.6565.
The expected trading range for today is between 0.6380 support and 0.6520
The expected trend for today: Bearish
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Midday update for Brent oil 12-03-2020
Brent oil price faces additional negative pressure to move below 34.80 level now, which urges caution from the upcoming trading, as holding with a daily close below this level will force the price to achieve more decline and head towards 31.57 mainly, while the price needs to consolidate above 34.80 to manage to resume the bullish trend that targets 38.00 followed by 41.17 levels on the near term basis.
MoreMidday update for Crude oil 12-03-2020
Crude oil price shows sideways trades since morning, and it keeps its stability above 61.8% Fibonacci correction level, to keep the intraday bullish scenario valid for today, waiting to resume the rise to surpass 34.50 level to ease the mission of heading towards our main expected target at 38.04, reminding you that the continuation of the bullish trend depends on the price stability above 31.07.
MoreMidday update for Silver 12-03-2020
Silver price shows sideways and tight trades since morning, and as long as the price is below 16.96, our bearish overview will remain valid for today, supported by the negative pressure formed by the EMA50, reminding you that we are waiting to test 16.33 level mainly.
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