The AUDUSD surpasses the target – Analysis - 24-03-2021
The AUDUSD pair succeeded to achieve our waited target at 0.7615 and surpassed it to settle below it now, which confirms the continuation of the bearish wave in the upcoming period, paving the way to head towards 0.7500 as a next target.
The EMA50 supports the suggested negative scenario, taking into consideration that failing to hold below 0.7615 will lead the price to start recovery attempts that target testing 0.7765 areas initially.
The expected trading range for today is between 0.7540 support and 0.7650 resistance
The expected trend for today: Bearish
Brent oil price hits the extended negative targets – Analysis - 24-03-2021
Brent oil price continued its strong decline yesterday to succeed touching our extended target at 60.30, showing some bullish bias now affected by stochastic positivity, but we suggest resuming the negative trades to head towards 57.74 that represents the next main target of the current bearish wave.
Therefore, the bearish trend will remain suggested for the upcoming period conditioned by the price stability below 62.35.
The expected trading range for today is between 59.50 support and 62.35 resistance.
The expected trend for today: Bearish
Crude oil price suffers sharp losses – Analysis - 24-03-2021
Crude oil price ended yesterday below 58.00 level, which support the expectations of continuing the domination of the correctional bearish trend, reminding you that the next target reaches 54.83, which represents 38.2% Fibonacci correction level for the rise from 33.61 to 67.95.
The EMA50 supports the suggested negative scenario, which will remain valid unless the price rallied to breach 59.20 and hold above it.
The expected trading range for today is between 56.00 support and 59.20 resistance.
The expected trend for today: Bearish
Silver price breaks the support - Analysis - 24-03-2021
Silver price managed to break 25.50 level and hold below it, confirming the continuation of the bearish trend domination on the intraday and short term basis, waiting to visit 24.55 level as a next main target.
The EMA50 continues to press negatively on the price to support the expectations to decline, noting that breaching 25.50 will stop the expected decline and lead the price to start new recovery attempts.
The expected trading range for today is between 24.60 support and 25.60 resistance.
The expected trend for today: Bearish