The AUDUSD faces solid resistance – Analysis - 05-08-2022
The AUDUSD pair finds solid resistance at 0.6980, to show some temoprary bearish bias, noticing that stochastic gains the positive momentum gradually, waiting to motivate the price to resume the bullish bias and breach the mentioned level to confirm heading towards 0.7050 as a next station.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 0.6910 and holding below it.
The expected trading range for today is between 0.6910 support and 0.7030 resistance
The expected trend for today: Bullish
Brent oil price keeps declining – Analysis - 05-08-2022
Brent oil price traded with strong negativity yesterday to reach 96.90 areas, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, organized inside the bearish channel that supports the chances of achieving our negative targets that start at 95.90 and extend to go further towards 90.45.
Therefore, we are waiting for more expected decline in the upcoming period supported by the negative pressure formed by the EMA50, taking into consideration that breaching 99.00 might push the price to achieve intraday gains and test 102.25 areas before any new attempt to decline.
The expected trading range for today is between 95.00 support and 99.20 resistance.
The expected trend for today: Bearish
Crude oil price hits the extended target – Analysis - 05-08-2022
Crude oil price managed to achieve our next waited target at 87.40, and we expect the continuation of the bearish trend domination within the bearish channel that appears on the chart to head towards achieving additional negative targets that extend to 85.90 followed by 84.55.
The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 91.15, as breaching this level will lead the price to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 85.90 support and 90.00 resistance.
The expected trend for today: Bearish
Silver price within positive pattern - Analysis - 05-08-2022
Silver price’s recent trades are confined within bullish flag pattern that appears on the chart, thus, breaching 20.35 will activate the positive effect of this pattern and push the price to continue the rise on the intraday and short term basis, paving the way to achieve additional gains that start by visiting 21.00 barrier.
Therefore, our bullish overview will remain valid for the upcoming period, supported by the EMA50, reminding you that it is important to hold above 19.60 to achieve the waited targets.
The expected trading range for today is between 19.90 support and 20.80 resistance.
The expected trend for today: Bullish