Midday update for the EURUSD 06-05-2021
The EURUSD pair trades with strong positivity now to approach testing the key resistance 1.2064, and as long as the price is below this level, our bearish overview will remain valid, which targets 1.1975 followed by 1.1880 levels as main stations.
Note that breaching 1.2064 and holding above it will lead the price to resume the short term bullish wave and head towards 1.2170 as a next positive target.
The expected trading range for today is between 1.1950 support and 1.2064 resistance.
The expected trend for today: Bearish
The NZDCHF rebounds above the support – Analysis – 6-5-2021
The NZDCHF pair succeeded to get rid of the temporary negative pressures and rally above 0.6520 support line again, to confirm surrendering to the domination of the expected bullish bias.
Also, the consolidation of the moving average 55 below the current trades confirms blocking the price within the bullish track, to expect gathering the positive momentum and reach 0.6640 level direct, followed by attempting to press on 0.6760 recorded high.
The expected trading range for today is between 0.6540 and 0.6640
The expected trend for today: Bullish
The Australian index needs new momentum – Analysis – 6-5-2021
The Australian index didn’t move until today, to notice its slow sideways fluctuation within the bullish channel due to the continuous contradiction between stochastic negativity against the moving average 55 positivity.
In general, the stability of the major support at 6970.00 allows us to recommend waiting to gather the additional positive momentum to manage to start forming the bullish waves and target 7125.00 followed by 7205.00 levels.
The expected trading range for today is between 7000.00 and 7125.00
The expected trend for today: Bullish
IBEX index resumes the rise – Analysis – 6-5-2021
IBEX index confirmed surrendering to the domination of the bullish bias by settling above the additional support 8885.00, to notice forming new bullish rally and reach 8980.00.
Also, stochastic attempt to provide the positive momentum will increase the chances of forming strong bullish attack, to manage to achieve more positive targets, located around 9140.00 and 9350.00 as a second target.
The expected trading range for today is between 8880.00 and 9080.00
The expected trend for today: Bullish