Midday update for the EURUSD 12-08-2022
The EURUSD pair trades negatively now to start pressing on 1.0278 level, which breaking it represents the key to rally towards our negative targets that start at 1.0200 followed by 1.0100, to keep our bearish overview for today unless the price rallied to breach 1.0355 and hold above it.
The expected trading range for today is between 1.0220 support and 1.0360 resistance.
The expected trend for today: Bearish
The AUDCAD holds above the support – Analysis – 12-8-2022
The AUDCAD pair kept its positive stability above 0.9000 level that forms the extension of the major support, to increase the chances of renewing the bullish attempts in the near term and medium term period, to notice reaching 0.9095 recently.
The consolidation of the moving average 55 above the mentioned support and stochastic attempt to crawl towards the overbought areas support our bullish overview, to expect gathering the additional positive momentum to reach the positive stations at 0.9135 and 0.9215.
The expected trading range for today is between 0.9040 and 0.9135
The expected trend for today: Bullish
Natural gas price hits key barrier – Analysis – 12-8-2022
Natural gas price correctional bullish trades extended towards 9.005 level, to face key barrier and hinder the bullish rally, noticing its rebound towards 8.640 direct, while in case this barrier continued to consolidate against the price, we expect the beginning of forming negative attack to target many negative stations that might start at 8.450 and 8.110 levels.
On the other hand, succeeding to breach the mentioned barrier and getting positive close above it will cancel the negative overview to open the way to resume the bullish attack and expect to move towards 9.420 direct.
The expected trading range for today is between 9.000 and 8.450
The expected trend for today: Bearish
Hang Seng index begins the bullish correction – Analysis – 12-8-2022
Hang Seng index repeated the positive closings above 61.8% Fibonacci correction level to form solid support at 19360 and activate the correctional bullish track, to notice its consolidation near 20125 now.
We notice stochastic rally above 50 level to increase the chances of gathering the additional positive momentum to reinforce the chances of resuming the correctional bullish attack that might target 20600 followed by 20950 levels in the medium term period.
The expected trading range for today is between 19800 and 20600
The expected trend for today: Bullish