The EURJPY pair succeeded to exit the sideways range by breaking 127.90 support line, allowing us to suggest the domination of the bearish bias for the near term and medium term trading, while we will depend on 127.90 level forming new resistance to expect targeting 126.90 followed by reaching 126.15 that represents 50% Fibonacci correction level.
Also, stochastic stability within the oversold areas reinforces the negative overview by providing new negative momentum, to ease the mission of recording the mentioned negative targets.
Expected trading range for today is between 127.90 and 126.90
Expected trend for today: Bearish
China50 Index moved away from the bearish channel’s resistance at 11245.00 recently, while we notice the beginning of forming new negative trades today and achieving 10812.00 level, as the price faces negative pressures caused by the consolidation of the moving average 55 around the main resistance, besides stochastic approach to 20 level that confirms the preparation to resume achieving the negative targets, expecting to move towards 10632.00 followed by reaching 10400.00 in the upcoming period.
Expected trading range for today is between 11000.00 and 10632.00
Expected trend for today: Bearish
Adidas shares price hinted its surrender to the bearish bias domination by providing new negative closings below 193.60 resistance, to notice suffering some losses by reaching 185.20 level, while resuming the negative attack requires breaking 183.90 barrier to ease the mission of achieving new negative targets that start at 179.20 followed by reaching 173.25 in the upcoming period.
Stochastic crawl towards the oversold areas confirms the negative overview by providing strong negative momentum, which increases the chances of achieving the required break followed by waiting to record the suggested negative targets.
Expected trading range for today is between 191.80 and 179.20
Expected trend for today: Bearish
The AUDCHF pair was affected by the strength of 0.7190 resistance recently, to continue forming strong obstacle against regaining the bullish bias, forcing the price to suffer some losses by reaching 0.7170, while the stability of the current resistance confirms the price surrender to the bearish bias domination, to expect gathering new negative momentum and achieve new negative targets by moving towards 0.7070 followed by 0.7035 in the medium term period.
The above chart shows stochastic crawl below 50 level, to agree the negativity of the moving average 55 that settles around the main resistance, to support the negative overview until reaching the suggested targets.
Expected trading range for today is between 0.7170 and 0.7070
Expected trend for today: Bearish