The AUDUSD gets positive signals – Analysis - 05-05-2021
The AUDUSD pair attempted to break the intraday bullish trend line but it returned to move above it, which hints heading to rise in the upcoming sessions, targeting testing 0.7765 as a first station, noting that breaching this level will extend the bullish wave to reach 0.7835 as a next target.
On the other hand, we should note that breaking 0.7660 will stop the expected rise and press on the price to achieve more bearish correction on the intraday and short term basis.
The expected trading range for today is between 0.7680 support and 0.7780 resistance
The expected trend for today: Bullish
Brent oil price hits the first target – Analysis - 05-05-2021
Brent oil price succeeded to achieve our first target at 69.00 and breached it to confirm extending the bullish wave on the intraday and short term basis, noting that our next target extend to 70.00 followed by 71.35.
The bullish channel continues to organize the suggested bullish wave, which will remain valid and active unless breaking 68.05 and holding below it.
The expected trading range for today is between 68.00 support and 71.00 resistance.
The expected trend for today: Bullish
Crude oil price surpasses the first target – Analysis - 05-05-2021
Crude oil price confirmed breaching 65.60 level and settles above 66.00 barrier now, which support the continuation of our bullish overview efficiently for the upcoming period, opening the way to head towards our next station that reach 67.95.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis supported by the EMA50, noting that holding above 65.60 represents initial condition to continue the suggested bullish wave.
The expected trading range for today is between 65.00 support and 67.95 resistance.
The expected trend for today: Bullish
Silver price breaks the channel’s support line - Analysis - 05-05-2021
Silver price broke the intraday bullish channel’s support line and settled below it, which push the price to achieve expected decline in the upcoming sessions, on its way to test 25.50 before attempting to resume the main bullish trend again.
Holding below 26.55 will keep the suggested negative scenario valid, as breaching it will push the price back to the bullish track followed by heading towards our next main positive station that reaches 27.80.
The expected trading range for today is between 25.80 support and 26.80 resistance.
The expected trend for today: Bearish temporarily