Midday update for the NZDUSD 16-10-2020
The tight range dominates the NZDUSD pair’s trades since morning, which hovers around 0.6600 barrier, and as long as the price is above 0.6570, our bullish overview will remain valid for today, supported by stochastic positivity, reminding you that our waited targets begin at 0.6700 and extend to 0.6788.
The expected trading range for today is between 0.6550 support and 0.6670
The expected trend for today: Bullish
Midday update for the AUDUSD 16-10-2020
The AUDUSD pair did not show any strong move since morning, to fluctuate around 0.7075 level, thus, no change to the bearish trend scenario that depends on the price stability below 0.7200, while its next main target located at 0.6964.
The expected trading range for today is between 0.7010 support and 0.7140
The expected trend for today: Bearish
Midday update for Brent oil 16-10-2020
Brent oil price faces negative pressure to approach the key support 42.50, and as we mentioned this morning, the price needs to consolidate above this level to keep the bullish trend active for today, which targets 44.10 followed by 46.43 levels mainly, reminding you that breaking 42.50 will put the price under new negative pressure that its main targets reach 40.00.
The expected trading range for today is between 41.80 support and 44.30 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 16-10-2020
Crude oil price shows some slight bearish bias to head towards potential test to 40.00 level, and as long as the price is above this level, our bullish overview will remain valid for today, supported by the EMA50, reminding you that we are waiting to breach 41.30 to reinforce the chances of rallying towards 43.05 that represents our next main target.
The expected trading range for today is between 39.40 support and 42.50 resistance.
The expected trend for today: Bullish