The tight range dominated the EURUSD pair’s trades yesterday, to continue fluctuating around the EMA50, thus, the bearish trend scenario will remain valid as it is without any change, supported by the negative signal that stochastic begins to provide, reminding you that our targets begin at 1.0840 and extend to 1.0700 after surpassing the previous level, while achieving them requires holding below 1.0966.
The expected trading range for today is between 1.0800 support and 1.0966 resistance.
The expected trend for today: Bearish
Brent oil price shows clear positive trades now to reach the thresholds of the key resistance level 36.00, and as we mentioned in our last report, the price needs to hold below this level to keep the bearish trend scenario active for the upcoming period, as breaching it will open the way to resume the main bullish trend within the bullish channel that appears on the chart, to head towards areas that start at 37.00 and extend further towards 40.00$ barrier.
Crude oil price trades positively now to test 34.00$ barrier, and we need to monitor the upcoming trades carefully, as breaching 34.10 followed by 34.60 levels will stop the recently suggested negative scenario and lead the price to regain the main bullish trend.
The major currencies’ pair and commodities show weak and tight trades since morning, thus, the morning suggested scenarios will remain valid without any change, and we recommend checking our previous reports to review the expected targets for the upcoming period.