Midday update for the NZDUSD 12-06-2020
The NZDUSD pair trades with clear positivity to surpass 0.6424 and settles above it, which hints the price head to regain the bullish trend, which makes us prefer staying aside until the price confirms its situation according to the mentioned level, as closing the day above this level will push the price to 0.680 initially, while trading below it again will reactivate the correctional bearish trend scenario that its next target located at 0.6328.
The expected trading range for today is between 0.6350 support and 0.6500
The expected trend for today: Neutral
Midday update for the AUDUSD 12-06-2020
The AUDUSD pair rebounds upwards clearly after leaning on the main bullish channel’s support line, motivated by the positive overlapping signal provided by stochastic, waiting for more rise for the rest of the day, which targets 0.6925 followed by 0.7000 levels as next main stations, reminding you that it is important to hold above 0.6810 to continue the expected rise.
The expected trading range for today is between 0.6770 support and 0.6925
The expected trend for today: Bullish
Midday update for Brent oil 12-06-2020
Brent oil price achieved initial break to 37.86 level but it returns to trade above it, which urges caution from the upcoming trading, as the price needs to hold below this level to keep the bearish trend active for the upcoming sessions, reminding you that we are waiting to visit 38.2% Fibonacci correction level at 34.44, while holding above 37.86 represents initial positive key to attempt to regain the main bullish trend again.
The expected trading range for today is between 35.50 support and 39.50 resistance.
The expected trend for today: Bearish
Midday update for Crude oil 12-06-2020
Crude oil price approaches testing 37.05 level after the decline that it witnessed this morning and keeps its stability below it, to keep the bearish overview valid for the rest of the day, and the way is open to visit 32.40 that represents our next negative target, reminding you that the price affected by the double top pattern that its signs appear on the chart, while holding below 37.05 represents key condition to continue the expected decline.
The expected trading range for today is between 33.00 support and 37.05 resistance.
The expected trend for today: Bearish