Midday update for the NZDUSD 04-05-2021
The NZDUSD pair shows clear negative trades now to test 0.7150 level, noticing that the price forms bearish pattern that its signs appear on the chart, which support the expectations of continuing the bearish trend on the intraday basis, which its targets begin at 0.7100.
Therefore, the bearish trend will remain suggested for the upcoming period conditioned by the price stability below 0.7210.
The expected trading range for today is between 0.7130 support and 0.7230 resistance
The expected trend for today: Bearish
Midday update for the AUDUSD 04-05-2021
The AUDUSD pair trades negatively to head towards potential test to the key support 0.7650, which represent one of the next trend keys besides 0.7765 resistance, as the price needs to surpass one of these levels to detect its next targets clearly.
Therefore, we will continue with our neutrality until we get clearer signal for the next trend, noting that the details of the expected targets after the breach are explained in our morning report.
The expected trading range for today is between 0.7700 support and 0.7820 resistance
The expected trend for today: Neutral
Midday update for Brent oil 04-05-2021
Brent oil price crawls upwards calmly to start testing 68.00 barrier, waiting for more rise to surpass this level and confirm heading towards our positive targets that start at 69.00 followed by 70.00.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period conditioned by the price stability above 66.00.
The expected trading range for today is between 66.40 support and 69.00 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 04-05-2021
Crude oil price begins providing positive trades now to move away gradually from 64.35 level, reinforcing the expectations of continuing the bullish trend for the rest of the day, which target 65.60 level as a first station, which breaching it represents the key to rally towards 67.95 as a next positive station, reminding you that it is important to hold above 64.35 as a first condition to continue the suggested positive scenario.
The expected trading range for today is between 63.30 support and 66.40 resistance.
The expected trend for today: Bullish