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The EURUSD achieves some bearish correction – Analysis - 05-10-2021
The EURUSD pair provided positive trades yesterday but it stopped at 23.6% Fibonacci correction level for the decline measured from 1.1909 to 1.1563, noticing that the price bounced bearishly from there, as the EMA50 meets this level to add more strength to it, while stochastic shows clear negative signals now.
Therefore, we believe that the chances valid to resume the main bearish trend, which its next target located at 1.1500, noting that breaching 1.1645 will lead the price to achieve more bullish correction that its targets extend to 1.1695 followed by 1.1775.
The expected trading range for today is between 1.1520 support and 1.1650 resistance.
The expected trend for today: Bearish
Evening update for Crude oil 04-10-2021
Crude oil price rallied upwards sharply to breach 76.64 and approaches the extended target at 79.00, reinforcing the chances of continuing the rise on the intraday and short term basis, which its next target located at 80.00$, noting that the the continuation of the bullish wave requires holding above 76.64.
MoreEvening update analysis for Gold 04-10-2021
Gold price rallied upwards strongly to attack 1770.00 and attempts to breach it, which urges caution from the upcoming trading, as confirming the breach will stop the recently suggested negative scenario and lead the price to achieve additional gains that reac 1797.00.
MoreEvening update for the EURUSD 04-10-2021
The EURUSD pair settles above 1.1605 level, to raise the chances of turning to rise, noting that consolidating above this level will push the price to continue the rise and visit 1.1700 as a next positive station.
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