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The AUDUSD resumes the decline – Analysis - 12-03-2020
The AUDUSD pair resumes its negative trading to approach the bearish channel’s support line that represents our first waited target at 0.6430, expecting the continuation of the negative pressure to achieve more negative targets that extend to 0.6230.
Therefore, we will keep our bearish overview that gets continuous support by the EMA50, noting that holding below 0.6565 represents initial condition to continue the suggested decline.
The expected trading range for today is between 0.6380 support and 0.6520
The expected trend for today: Bearish
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Brent oil price retraces – Analysis - 12-03-2020
Brent oil price traded with strong negativity by today’s opening, and by looking at the minor image, we find that the price made a bearish correction for the last bullish wave that start from 31.57 areas, as it leaned on 61.8% Fibonacci correction level to start recovering now, which hints the price is on its way to achieve intraday gains today.
MoreCrude oil price begins with strong negativity – Analysis - 12-03-2020
Crude oil price opens today’s trading with strong decline to touch 31.07 level that represents 61.8% Fibonacci correction for the last rise, measured from 27.67 to 36.58, noticing that the price begins to recover now, hinting the price head to resume the intraday bullish track, which targets testing 38.04 level initially.
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Silver price broke 16.96 level strongly and declined clearly to approach the negative target 16.33, making the bearish bias suggested in the upcoming sessions, noting that surpassing the mentioned target will cause more decline on the short term and medium term basis.
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