The AUDUSD consolidates above the key support – Analysis - 03-08-2022
The AUDUSD pair continued to decline to reach 0.6910 level, noticing that the price begins today with clear positivity to hint resuming the correctional bullish trend, to suggest the bullish bias in the upcoming sessions, targeting 0.6980 followed by 0.7050 levels as next main stations.
Stochastic provide positive signals that support the expected rise, which will remain valid unless breaking 0.6910 and holding below it.
The expected trading range for today is between 0.6880 support and 0.7000 resistance
The expected trend for today: Bullish
Brent oil price achieves temporary gains – Analysis - 03-08-2022
Brent oil price rallied upwards strongly yesterday to breach the bearish channel’s resistance and achieve intraday gains that reached 106.45, but it returns to decline and fluctuate around the mentioned channel’s resistance, as it falls under continuous negative pressure coming by the EMA50, to support the chances of resuming the main bearish trend, waiting to test 102.25 initially.
Therefore, we expect to witness negative trades in the upcoming sessions, and breaking 102.25 will push the price to 99.25 areas on the near term basis, while the expected decline will remain valid unless the price rallied to breach 105.75 and hold above it.
The expected trading range for today is between 100.00 support and 105.75 resistance.
The expected trend for today: Bearish
Crude oil price attempts to recover – Analysis - 03-08-2022
Crude oil price traded with clear positivity yesterday to breach the bearish channel’s resistance and reach the EMA50, which forms solid resistance that forced the price to decline again, which makes us suggest resuming the negative trades and attempts to return to the main bearish channel again, to head towards achieving negative targets that reach 89.60.
Therefore, the bearish bias will be suggested for today, noting that breaching 94.50 followed by 95.50 levels will stop the negative scenario and lead the price to achieve additional gains that reach 98.25.
The expected trading range for today is between 89.60 support and 95.00 resistance.
The expected trend for today: Bearish
Silver price gathers the positive momentum - Analysis - 03-08-2022
Silver price faced solid resistance at 20.50, to reound bearishly and approach the EMA50 that continues to support the price from below, noticing that stochastic gained clear positive momentum now, waiting to motivate the price to resume the bullish wave that its next target reaches 21.00.
In general, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 19.60.
The expected trading range for today is between 19.60 support and 20.50 resistance.
The expected trend for today: Bullish