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The AUDUSD faces temporary negative pressure – Analysis - 20-05-2020
The AUDUSD pair shows bearish rebound after testing the broken support of the bullish channel that appears on the chart that turns into resistance now at 0.6595, affected by stochastic negativity, and the price needs to get enough positive momentum to push trades to resume the main bullish trend, which its next target located at 0.6685.
In general, we will continue to suggest the bullish trend for the upcoming period supported by the EMA50, unless breaking 0.6407 level and holding below it.
The expected trading range for today is between 0.6460 support and 0.6600
The expected trend for today: Bullish
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Brent oil price needs a positive motive – Analysis - 20-05-2020
Brent oil price provided negative trades yesterday to settle around 34.50 now, and by taking a deeper look at the chart, we find that the price moves inside minor bearish channel that we believe it forms bullish flag patterm, which means that breaching 35.35 is considered as strong positive motive that supports the expectations of continuing the main bullish trend, so its targets will surpass 36.00 barrier and extend to 37.70 on the near term basis.
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Crude oil price’s recent trades confined within bullish pennant pattern that appears on the chart, thus, the price needs to breach 32.20 to activate the positive effect of this pattern and rally to resume the main bullish trend, as our next target is located at 36.50.
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