The AUDUSD is recovering – Analysis - 16-06-2022
The AUDUSD pair rallied upwards strongly to breach 0.6995 level and settles above it, to head towards achieving expected gains on the intraday basis, targeting testing 0.7100 followed by 0.7160 levels as next main stations.
Therefore, the bullish bias will be suggested for the upcoming period unless breaking 0.6995 and holding below it.
The expected trading range for today is between 0.6980 support and 0.7080 resistance
The expected trend for today: Bullish
Brent oil price forms negative pattern – Analysis - 16-06-2022
Brent oil price shows more bearish bias, and it approached our main waited negative target at 115.10, and by taking a deeper look at the chart, we find that the price formed double top pattern that supports the chances of surpassing the mentioned level and achieve more expected decline on the intraday basis, targeting 110.10 areas as a next main station.
Therefore, we expect to witness more bearish bias in the upcoming period unless the price rallied to breach 119.25 followed by 121.30 levels and hold above them.
The expected trading range for today is between 114.50 support and 119.50 resistance.
The expected trend for today: Bearish
Crude oil price touches the target – Analysis - 16-06-2022
Crude oil price succeeded to achieve our waited target at 113.70 and attempts to break it, to hint heading to achieve more expected decline in the upcoming period, paving the way to head towards 111.00 followed by 109.15 levels.
Therefore, we will continue to suggest the bearish trend for the upcoming period supported by the negative pressure formed by the EMA50, taking into consideration that failing to break 113.70 will lead the price to start new bullish wave that targets testing 116.85 followed by 117.75 areas initially.
The expected trading range for today is between 111.00 support and 116.00 resistance.
The expected trend for today: Bearish
Silver price achieves intraday gains - Analysis - 16-06-2022
Silver price provided more bullish bias to test 21.85 level, and this resistance consolidates against the price until now, to keep the bearish trend scenario active, waiting to resume the negative trades and head towards 21.00 followed by 20.50 levels.
Stochastic shows negative signals that support the expected decline, which will remain valid unless breaching 21.85 and holding with a daily close above it.
The expected trading range for today is between 21.20 support and 22.00 resistance.
The expected trend for today: Bearish