The GBPUSD gets a negative close - Analysis - 26-05-2023
The GBPUSD pair managed to break 1.2345 level and close the daily candlestick below it, which supports the continuation of the correctional bearish trend on the intraday and short term basis, opening the way to head towards 1.2240 as a next main target.
Therefore, we are waiting for more expected decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, being aware that breaching 1.2345 will push the price to attempt to recover and head to test 1.2435 followed by 1.2470 areas before any new negative attempt.
The expected trading range for today is between 1.2240 support and 1.2390 resistance.
The expected trend for today: Bearish
The EURUSD begins positively - 26-05-2023
The EURUSD pair shows positive trades by today’s open to attempt to breach 1.0730 level, affected by stochastic positivity, but we will depend on the last daily candlestick below this level to continue suggesting the bearish trend for the upcoming period, which targets 1.0650 as a next station.
The EMA50 supports the suggested bearish wave, which moves organized inside the bearish channel that appears on the chart, taking into consideration that breaching 1.0730 followed by 1.0750 levels will stop the expected decline and lead the price to achieve additional gains and test 1.0795 initially before determining the next trend.
The expected trading range for today is between 1.0640 support and 1.0800 resistance.
The expected trend for today: Bearish
Evening update for Brent oil price 25-05-2023
Brent oil price declined strongly to break 76.80 level and faces expected negative pressure in the upcoming sessions, on its way to test 74.30 as a next station, making the bearish bias suggested on the intraday basis unless the price managed to breach 76.80 and hold above it again.
Evening update for Crude oil price 25-05-2023
Crude oil price suffered strong losses to reach 71.55 level and presses negatively on it, to hint heading to achieve more expected decline in the upcoming period, noting that confirming breaking this level will push the price to achieve additional negative targets that reach 70.00, while failing to break will push the price to recover and test 73.80 level initially.