Midday update for the NZDUSD 03-04-2020
The NZDUSD pair managed to touch our first waited target at 0.5842 and presses negatively on it, to suggest breaking this level and open the way to head towards 0.5700 as a next negative station.
The bearish channel continue to organize the current bearish wave, which will remain valid conditioned by the price stability below 0.5958.
The expected trading range for today is between 0.5750 support and 0.6000
The expected trend for today: Bearish
Midday update for the AUDUSD 03-04-2020
The AUDUSD pair shows more bearish bias to approach our first waited target at 0.5958, expecting more decline to break the mentioned level and head towards 0.5787 that represents our next main station.
In general, the bearish trend scenario will remain active for the upcoming period unless breaching 0.6097 and holding above it.
The expected trading range for today is between 0.5900 support and 0.6160
The expected trend for today: Bearish
Midday update for Brent oil 03-04-2020
Brent oil price achieved new strong gains to reach 33.00$ barrier, as it leaned on the intraday bullish channel’s support line that its signs appear on the chart, on its way to achieve more expected rise in the upcoming period, as the next positive target reaches 36.00 areas.
Therefore, the bullish trend will be expected on the intraday and short term basis, taking into consideration that breaking 30.90 followed by 29.90 levels will stop the expected rise and put the price under the negative pressure again.
The expected trading range for today is between 31.00 support and 35.00 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 03-04-2020
Crude oil price traded with strong positivity this morning to breach 24.45 followed by 25.55 levels and open the way to head towards more recovery on the intraday and short term basis, making the bullish bias suggested in the upcoming sessions, and the next target represented by testing 27.65, noting that breaching this level will open the way to head towards 30.00 barrier on the near term basis.
On the other hand, note that the positive overview will remain valid unless breaking 25.55 and holding below it, which will press on the price to resume the main bearish trend and head towards 22.70 followed by 20.00 levels mainly.
The expected trading range for today is between 24.00 support and 28.00 resistance.
The expected trend for today: Bullish