The AUDUSD attempts positively – Analysis - 07-10-2021
The AUDUSD pair returned to rise and test 0.7290 level, which urges caution from the upcoming trading, as the price needs to hold below this level to keep the negative scenario active, which its next main target located at 0.7170.
Stochastic loses its positive momentum to support the chances of resuming the expected decline, noting that breaching 0.7290 will lead the price to achieve additional gains that reach 0.7360.
The expected trading range for today is between 0.7220 support and 0.7320 resistance
The expected trend for today: Bearish
Brent oil price keeps achieving the negative targets – Analysis - 07-10-2021
Brent oil price keeps declining to approach the first extended target at 79.90, and we expect to break this level to open the way to head towards the bullish channel’s support line at 77.90.
Therefore, the negative scenario will remain dominant on the intraday basis, noting that breaking 80.90 is considered as an initial positive key that will lead the price to attempt to return to the main bullish trend again.
The expected trading range for today is between 78.50 support and 81.50 resistance.
The expected trend for today: Bearish
Crude oil price surpasses the second target – Analysis - 07-10-2021
Crude oil price succeeded to achieve the second target at 76.65 and presses negatively on it now, reinforcing the chances of extending the bearish wave on the intraday basis, on its way to visit 74.50 as a next main target.
Therefore, we expect to witness more decline in the upcoming sessions, and breaking 76.10 will ease the mission of achieving the extended target, while failing to consolidate below 76.65 might push the price to start recovery attempts and regain the main bullish trend again.
The expected trading range for today is between 75.00 support and 77.80 resistance.
The expected trend for today: Bearish
Silver price loses momentum - Analysis - 07-10-2021
Silver price faces solid support at 22.30, to show temporary positive trades, noticing that stochastic shows clear overbought signals now, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets 21.65 as a first station.
Breaking 22.30 is required to confirm rallying towards the waited negative targets, while holding below 22.90 represents key condition to continue the expected decline.
The expected trading range for today is between 22.00 support and 22.70 resistance.
The expected trend for today: Bearish