Evening GBPUSD price forecast update - 14-03-2024
The GBPUSD price broke 1.2760 level strongly to head towards expected visit to the key support line at 1.2655, making the bearish bias suggested in the upcoming sessions, being aware that it is important to monitor the price when reaching the mentioned level, as breaking it will push the price to suffer more losses and turn to decline on the intraday and short-term basis, while consolidating above it will push the price to regain the main bullish trend again.
Evening EURUSD price forecast update - 14-03-2024
The EURUSD price faces clear negative pressure to approach the key support 1.0860, which urges caution from the upcoming trading, as continuing the decline and breaking this level will stop the positive effect of the inverted head and shoulders’ pattern and push the price to turn to decline, to head towards visiting 1.0765 as a next negative station.
On the other hand, the consolidation above 1.0860 will keep the bullish trend scenario active, which its targets begin by breaching 1.0960 to open the way to head towards 1.1080.
Brent oil price forecast update 14-03-2024
Brent oil price resumes its positive trading to reach the thresholds of the first waited target at 85.50, and we suggest the continuation of the bullish bias to achieve additional gains that reach 86.74, supported by the EMA50 that carries the price from below.
Holding above 83.87 represents major condition to the continuation of the expected rise and guarantee not turning back to the sideways track again.
The expected trading range for today is between 83.10 support and 86.10 resistance.
Trend forecast: Bullish
Crude oil price forecast update 14-03-2024
Crude oil price rallies upwards to breach 80.05 level and return to the bullish channel again, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, and the way is open to achieve our next target at 80.95, noting that breaching it will extend the crude oil gains to reach 82.60 areas.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 78.70 and holding below it.
The expected trading range for today is between 78.50 support and 81.50 resistance
Trend forecast: Bullish