Midday update for the EURUSD 01-12-2021
The EURUSD pair resumes its negative trades to move away from 1.1375 level, reinforcing the expectations of continuing the bearish trend, and the price needs to break 1.1280 level to ease the mission of continuing the decline towards our main negative target at 1.1145, reminding you that the continuation of the bearish wave requires holding below 1.1375.
The expected trading range for today is between 1.1240 support and 1.1380 resistance.
The expected trend for today: Overall bearish
IBEX index suffers big losses – Analysis – 1-12-2021
IBEX index formed strong negative attack to confirm surrendering to the domination of the bearish bias, suffering big losses by reaching 23.6% Fibonacci correction level at 8250.00.
The index might form some sideways fluctuation until breaking the mentioned obstacle followed by waiting to target new negative stations by moving towards 8130.00 and 8025.00.
The expected trading range for today is between 8460.00 and 8200.00
The expected trend for today: Bearish
The EURNZD fluctuates within the bearish channel – Analysis – 1-12-2021
The EURNZD pair formed correctional bullish rebound by reaching 1.6690, affected by stochastic positivity, noting that the price consolidation within the bearish channel and the stability of 1.6860 resistance confirm the continuation of the negativity for the upcoming period.
The price needs new negative momentum to manage to hold below 1.7605 level and force it to form new negative trades, to attempt to reach 1.6385 level followed by waiting to renew the pressure on 1.6050 level.
The expected trading range for today is between 1.6600 and 1.6400
The expected trend for today: Bearish
The Australian index still bearish – Analysis – 1-12-2021
Despite the recent slow trades, that won’t affected the Australian index bearish track, due to the negative consolidation below 7375.00 resistance line, also, the stability of the moving average 55 above the current trades confirms blocking the price within the bearish track, to keep waiting to crawl below the initial support at 7120.00 and open the way to record new targets that might start at 7010.00 and 6920.00.
The expected trading range for today is between 7300.00 and 7010.00
The expected trend for today: Bearish