The EURUSD pair surpassed 1.0515 level and closed the daily candlestick above it, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, organized inside the bullish channel that appears on the chart, waiting to head towards our new positive targets that start at 1.0600 and extend to 1.0750.

Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that it is important to hold above 1.0515 to achieve the expected targets, while on the other hand, caution required during today’s trading, as the markets are waiting for the US employment and payrolls’ data, which might cause high volatility to the major currencies’ pairs and commodities.

The expected trading range for today is between 1.0460 support and 1.0620 resistance.

The expected trend for today: Bullish

Crude oil price rallied upwards strongly to succeed reaching our extended target at 83.27 and settles near it, and the way seems open to continue the rise in the upcoming period, noting that breaching this level will push the price to 85.55 as a next positive target, while holding above 81.00 represents key condition to continue the bullish trend.

Gold price succeeded to achieve our second target at 1786.50 and breached it to confirm the continuation of the bullish trend domination of the intraday and short term basis, paving the way to achieve more gains that start at 1815.00 and extend to 1850.00, taking into consideration that holding above 1786.50 represents the first condition to continue the expected rise.

The EURUSD pair managed to touch our waited target at 1.0515 and attempts to breach it, to support the chances of achieving more positive targets that reach 1.0600 as a next main station, noting that failing to surpass 1.0515 might press on the price to decline and test 1.0285 areas again before any new attempt to rise.