Midday update for the NZDUSD 17-09-2020
The NZDUSD pair trades with clear positivity after the negative pressure that it witnessed this morning, to attempt to move away from the intraday bullish channel’s support line that appears on the chart, which hints the price head to attempt to recover and resume the main bullish trend again, which makes us prefer staying neutral until we get clearer signal for the next trend.
Note that breaking 0.6700 will put the price under the negative pressure that targets 0.6600 followed by 0.6477 levels mainly, while breaching 0.6755 will allow the price to continue achieving gains and test 0.6790 initially.
The expected trading range for today is between 0.6630 support and 0.6760
The expected trend for today: Neutral
Midday update for the AUDUSD 17-09-2020
The AUDUSD pair shows positive trades after attempting to break the bullish channel’s support line, and we still waiting to confirm its situation according to this level to detect the next targets clearly, which keeps our neutrality valid until now.
The contradiction between stochastic positivity and the negative pressure formed by the EMA50 provides another reason for neutrality, while the details of the expected targets for the upcoming period are explained in our morning report.
The expected trading range for today is between 0.7200 support and 0.7350
The expected trend for today: Neutral
Midday update for Brent oil 17-09-2020
Brent oil price faced temporary negative pressure this morning to break 42.17 level but it returns to trade above it, which keeps the bullish trend scenario valid and active in the upcoming sessions, waiting to head towards 43.00 followed by 43.84 levels that represent our next main targets, reminding you that the continuation of the bullish wave requires holding above 42.17 and the most important above 41.14.
The expected trading range for today is between 41.00 support and 43.84 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 17-09-2020
Crude oil price rallies upwards strongly and begins attempts to surpass 40.00 barrier, which supports the continuation of our bullish overview for the rest of the day, which targets 41.85 areas mainly, noting that the EMA50 and stochastic support the expected rise, which will remain valid unless breaking 39.05 level and holding below it.
The expected trading range for today is between 38.70 support and 41.85 resistance.
The expected trend for today: Bullish