The AUDUSD achieves slight gains – Analysis - 23-10-2020
The AUDUSD pair provided slight positive trades to move above 0.7100, approaching the correctional bearish channel’s resistance that appears on the chart, noticing that stochastic returns to the overbought areas, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets 0.6964 level mainly.
On the other hand, we should note that breaching 0.7185 will stop the expected decline and leads the price to resume the main bullish trend again.
The expected trading range for today is between 0.7050 support and 0.7180
The expected trend for today: Bearish
Brent oil price attempts to recover – Analysis - 23-10-2020
Brent oil price provided positive trades yesterday to surpass 42.45 level, fluctuating around the EMA50, and it might head to test the most important resistance at 43.30 before turning back to decline again.
Stochastic shows clear negative signals now, which encourages us to keep our bearish overview that targets 40.23 areas mainly, noting that breaching 43.30 will lead the price to achieve more gains and head towards 45.00 initially.
The expected trading range for today is between 41.00 support and 43.50 resistance.
The expected trend for today: Bearish
Crude oil price tests the moving average – Analysis - 23-10-2020
Crude oil price fluctuates around the EMA50 that forms good resistance against the price, accompanied by stochastic loss to the positive momentum and reaching the overbougt areas, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its next targets located at 39.30 followed by 38.10.
On the other hand, we should note that breaching 41.60 will stop the expected decline and leads the price to resume the bullish trend on the intraday and short term basis.
The expected trading range for today is between 39.00 support and 42.00 resistance.
The expected trend for today: Bearish
Silver price presses on the support – Analysis - 23-10-2020
Silver price attempts to break the bullish channel’s support line that appears on the chart, waiting to confirm the break to open the way to continue the intraday bearish wave, which its next main target located at 23.60.
Therefore, we will continue to suggest the bearish trend for the upcoming period, waiting to get negative motive that supports the chances of achieving the required break, reminding you that the continuation of the bearish wave requires holding below 25.06.
The expected trading range for today is between 23.90 support and 25.20 resistance.
The expected trend for today: Bearish