Midday update for the EURUSD 07-12-2022
The EURUSD pair touched the EMA50 and shows some slight bullish bias now, affected by stochastic positivity, and as long as the price is below 1.0515, the negative scenario will remain suggested, waiting to test 1.0425 followed by heading towards 1.0285 after surpassing the previous level, taking into consideration that breaching 1.0515 will stop the expected decline and lead the price to resume the bullish wave again.
The expected trading range for today is between 1.0360 support and 1.0520 resistance.
The expected trend for today: Bearish
The CADCHF suffers big losses – Analysis – 7-12-2022
The CADCHF pair continued to form strong negative trades since breaking 0.6690 additional support, to notice suffering big losses by reaching 0.6888, noting that stochastic consolidation within the oversold areas will ease the mission of renewing the negative attack, to keep waiting to touch the next target at 0.6855.
The expected trading range for today is between 0.6925 and 0.6855
The expected trend for today: Bearish
Natural gas price touches the support – Analysis – 7-12-2022
Natural gas price ended its negative attack by touching 5.350 support line that formed the waited target in our previous report, while the price rebound towards 5.600 hints its surrender to the strength of the support line, to expect renewing the correctional bullish attempts in order to reach 6.200 followed by pressing on 6.550 resistance.
The above chart shows that stochastic provides the positive momentum, to increase the chances of the correctional bullish track efficiency and wait to achieve the suggested targets.
The expected trading range for today is between 5.400 and 5.900
The expected trend for today: Bullish
The Brazilian index faces negative pressure – Analysis – 7-12-2022
The Brazilian index faces strong negative pressures due to its frequent consolidation below 113540 barrier, to notice crawling below the moving average 55 and suffering many losses by touching 107630.
Stochastic attempt to provide the negative momentum allows us to except renewing the negative trades, to target many negative stations at 106460 followed by reaching 38.2% Fibonacci correction level at 102390.
The expected trading range for today is between 111000 and 106500
The expected trend for today: Bearish