Midday update for the NZDUSD 08-06-2023
The NZDUSD pair shows positive trades to move above the EMA50, affected by stochastic positivity, and it is important to note that holding above 0.6050 barrier will push the price to achieve additional gains for the rest of the day to head towards 0.6140 mainly.
On the other hand, the price needs to break 0.6020 to confirm the continuation of the correctional bearish trend domination and head towards 0.5900 areas as a next main station.
The expected trading range for today is between 0.5980 support and 0.6100 resistance
The expected trend for today: Bearish
Midday update for the AUDUSD 08-06-2023
The AUDUSD pair returns to rise and attack 0.6660 level, which urges caution form the upcoming trading, as the price needs to consolidate below this level to keep the bearish trend valid for the upcoming period, which targets 0.6610 followed by 0.6550 levels mainly.
Note that confirming breaching 0.6660 will push the price to build bullish wave that targets testing 0.6780 areas on the near term basis.
The expected trading range for today is between 0.6600 support and 0.6700 resistance
The expected trend for today: Bearish
Midday update for Brent oil 08-06-2023
Brent oil price resumes its negative trading to break 76.80 level and attempt to hold below it, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, paving the way to achieve negative targets that start at 75.95 and extend to 74.30.
Therefore, the bearish trend scenario will remain valid and active for today unless the price rallied to breach 77.60 and hold above it, noting that stochastic provides negative signals that support the expected decline.
The expected trading range for today is between 75.00 support and 78.20 resistance.
The expected trend for today: Bearish
Midday update for Crude oil 08-06-2023
Crude oil price shows negative trades to head towards testing potential test to the key support 71.55, and the price still confined between the trend keys represented by the mentioned support and 73.00 resistance, to continue with our neutrality until we get clearer signal for the next trend through surpassing one of these levels.
To review the expected targets after the breach, please check our morning report.
The expected trading range for today is between 70.50 support and 74.00 resistance.
The expected trend for today: Neutral