The AUDUSD reaches the target – Analysis - 06-07-2022
The AUDUSD pair reached few pips away from our extended target at 0.6755, showing some bullish bias to test 0.6800 barrier now, waiting to resume the bearish trend to achieve new negative targets that extend to 0.6700.
The bearish channel continues to organize the suggested bearish wave, which will remain valid unless the price rallied to breach 0.6830 followed by 0.6875 levels and holding above them.
The expected trading range for today is between 0.6740 support and 0.6830 resistance
The expected trend for today: Bearish
Brent oil price achieves big negative targets – Analysis - 06-07-2022
Brent oil price declined sharply yesterday after surpassing 110.10 level, to break 105.05 and settles below it, opening the way to suffer more losses in the upcoming period, noting that the next station reaches 98.85.
Therefore, we expect to witness more expected decline on the intraday and short term basis, taking into consideration that the continuation of the bearish wave requires holding below 105.05.
The expected trading range for today is between 98.00 support and 105.00 resistance.
The expected trend for today: Bearish
Crude oil price suffers sharp losses – Analysis - 06-07-2022
Crude oil price lost more than 10% yesterday, and declines again after the bullish gap that it witnessed by today’s open, to settle below 98.95 level, which pushes the price to continue the decline in the upcoming sessions, on its way to visit 95.00 followed by 92.80 areas as next main targets.
Therefore, the bearish trend scenario will remain valid and active, organized inside the bearish channel that appears on the chart, noting that breaching 98.95 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 92.80 support and 100.00 resistance.
The expected trend for today: Bearish
Silver price approaches the target - Analysis - 06-07-2022
Silver price provided strong negative trades yesterday to approach our main waited target at 19.00, and we suggest the continuation of the bearish bias within the bearish channel that appears on the chart, to achieve additional negative targets that reach 18.60.
Therefore, the negative scenario will remain valid and active for the upcoming period, noting that breaching 19.60 might push the price to achieve temporary rise and visit 20.45 followed by 20.70 areas before any new attempt to decline.
The expected trading range for today is between 18.70 support and 19.40 resistance.
The expected trend for today: Bearish