Midday update for the NZDUSD 22-05-2020
The NZDUSD pair crawls downwards calmly to approach the key support base 0.6073, accompanied by witnessing clear oversold signals through stochastic, waiting to motivate the price to resume the expected bullish trend in the upcoming period, which depends on the price stability above the mentioned support, reminding you that we are waiting to visit 0.6216 as a first main target.
The expected trading range for today is between 0.6080 support and 0.6216
The expected trend for today: Bullish
Midday update for the AUDUSD 22-05-2020
The AUDUSD pair shows negative trades now to approach testing the key support 0.6490, and as we mentioned this morning, the price needs to hold above this level to keep the bullish trend valid for today, as breaking it will press on the price to test 0.6407 before any new attempt to rise.
Stochastic reach to the oversold areas supports the chances of resuming the main bullish trend, which targets 0.6685 areas mainly.
The expected trading range for today is between 0.6500 support and 0.6650
The expected trend for today: Bullish
Midday update for Brent oil 22-05-2020
Brent oil price traded with strong negativity this morning to break 35.45 and heads to visit the main bullish channel’s support line that appears on the chart, which turns the intraday track to decline in the upcoming sessions, waiting to test 32.40 level before attempting to regain the main bullish trend.
Moving below the EMA50 supports the expected decline, which will remain valid unless the price managed to breach 35.45 followed by 36.00 levels and hold above them.
The expected trading range for today is between 33.00 support and 36.00 resistance.
The expected trend for today: Bearish for the rest of the day
Midday update for Crude oil 22-05-2020
Crude oil price broke the main bullish channel’s support line strongly and settled below it, which stops the positive scenario and press on the price to start correctional bearish wave for the rise that it started from 10.05 areas, on its way to visit 28.80 that represents the first correctional level.
Therefore, the bearish bias will be expected for the rest of the day unless the price rallied to breach 33.15 level and hold above it.
The expected trading range for today is between 30.00 support and 33.15 resistance.
The expected trend for today: Bearish for the rest of the day