The AUDUSD continues to rise – Analysis - 02-08-2022
The AUDUSD pair keeps providing the positive trades, and reached the thresholds of 0.7050 level, organized inside bullish channel that supports the chances of surpassing the mentioned level and hed to achieve new positive targets that reach 0.7140.
The EMA50 keeps supporting the price from below, to continue suggesting the bullish trend for the upcoming period conditioned by the price stability above 0.6980.
The expected trading range for today is between 0.6980 support and 0.7070 resistance
The expected trend for today: Bullish
Brent oil price suffers sharp losses – Analysis - 02-08-2022
Brent oil price declined strongly after breaking 106.10 level, to surpass our first negative target at 104.45 and approaches few pips away from the extended target at 102.25, and we expect the continuation of the negative pressure affected by trading inside the bearish channel that appears on the chart to attack the last level and open the way to achieve additional negative targets that reach 99.25.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 104.30.
The expected trading range for today is between 100.00 support and 105.00 resistance.
The expected trend for today: Bearish
Crude oil price returns to the bearish channel – Analysis - 02-08-2022
Crude oil price declined strongly yesterday to succeed achieving our first negative target at 92.45, and we notice that the price returns to the main bearish channel to support the continuation of the bearish bias in the upcoming sessions, paving the way to head towards 89.60 as a next negative target.
Therefore, we are waiting for more expected decline on the intraday basis, taking into consideration that breaching 93.50 will stop the current negative pressure and lead the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 89.60 support and 94.50 resistance.
The expected trend for today: Bearish
Silver price keeps achieving the positive targets - Analysis - 02-08-2022
Silver price touched 20.50 level and finds solid resistance there, noticing that stochastic gets rid of its negative momentum clearly, waiting to motivate the price to resume the positive trades and breach the mentioned level to open the way to visit 21.00 as a next positive target.
Therefore, 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 19.90 support and 20.70 resistance.
The expected trend for today: Bullish