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The AUDUSD breaches the channel’s resistance – Analysis - 05-10-2021
The AUDUSD pair kept rising to breach the bearish channel’s resistance, but we notice that the price stopped at 38.2% Fibonacci correction level for the decline measured from 0.7478 to 0.7172, which hints heading to return to decline again, and it needs to break 0.7245 to confirm continuing the decline towards 0.7170 initially.
Therefore, the bearish bias will be suggested for today, noting that breaching 0.7290 will stop the expected negative scenario and lead the price to achieve more gains.
The expected trading range for today is between 0.7210 support and 0.7310 resistance
The expected trend for today: Bearish
Brent oil price resumes the rise – Analysis - 05-10-2021
Brent oil price resumed its positive trading by today’s open, to approach our extended waited target at 82.00, and we expect to surpass this level to visit the bullish channel’s resistance, located at 82.70 now.
MoreCrude oil price rises strongly – Analysis - 05-10-2021
Crude oil price’s rise stopped at 78.35, to show temporary negative trades, noticing that the price completed forming bullish flag pattern that appears on the minor image, as it breached this pattern’s resistance to get positive motive that we expect to push the price to achieve additional gains that reach 79.00 followed by 80.00.
MoreSilver price tests the support base - Analysis - 05-10-2021
Silver price tests the support line formed at 22.40, and the price needs to break this level to return to the bearish channel that appears on the chart followed by reinforcing the chances of continuing the decline on the intraday basis.
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