The EURUSD approaches the negative target - 06-12-2023
The EURUSD pair settles around 1.0800 level, and after approaching the waited negative target at 1.0760, the price might head to attempt to build bullish wave on the intraday basis, but it faces intraday negative pressure formed by the EMA50, which makes us prefer to stay aside until we get clearer signal for the next trend.
Note that breaching 1.0860 will push the price to recover and achieve gains that start by visiting 1.0960 level, while breaking 1.0760 support will push the price to suffer additional losses that reach 1.0645 direct.
The expected trading range for today is between 1.0710 support and 1.0880 resistance.
The expected trend for today: Neutral
Evening update for Gold 05-12-2023
Gold price resumes its negative trading to approach the bullish channel’s support line, and it is important to monitor the price at this level, as breaking it represents the key to start bearish correction that its next target reaches 1970.00, while consolidating above it will push the price to resume the main bullish trend and head towards 2075.25 as a next main station.
Evening update analysis for the EURUSD 05-12-2023
The EURUSD pair shows additional bearish bias to approach our waited negative target at 1.0760, and the way seems open to surpass this level to open the way to achieve additional decline that its next target reaches 1.0645, taking into consideration that consolidating above 1.0760 will stop the current negative pressure and push the price to start recovery attempts that target visiting 1.0860 initially.
Midday update for Brent oil 05-12-2023
Brent oil price shows clear positive trading, to attack the critical resistance at 79.20, affected by stochastic positivity, which requires being aware from the upcoming trading, where confirming breaching this level represents the key for continuing the rise and head towards testing 81.00 level as a next main target, while holding below it is required for resuming the bearish trend that its targets begin at 77.44 and extend to 76.00 after breaking the previous level.
The expected trading range for today is between 76.50 support and 79.50 resistance.
The expected trend for today: Bearish