Midday update for the NZDUSD 31-03-2020
The NZDUSD pair faces new negative pressure to test 0.5958 level now, which urges caution from the upcoming trading, as breaking this level will stop the expected rise and push the price to turn to decline again and head towards 0.5842 as an initial negative target, while consolidating above 0.5958 represents the condition to continue the bullish trend that its targets begin by testing 0.6073.
The expected trading range for today is between 0.5900 support and 0.6130
The expected trend for today: Bullish
Midday update for the AUDUSD 31-03-2020
The AUDUSD pair returns to test the key support 0.6097, while the EMA50 keeps providing the positive support to the price, to keep the bullish trend scenario valid for today, which depends on the price stability above the mentioned support as a first condition to continue the suggested rise, noting that our first main target is located at 0.6236.
The expected trading range for today is between 0.6100 support and 0.6260
The expected trend for today: Bullish
Midday update for Brent oil 31-03-2020
Brent oil price returns to test the main bearish channel’s resistance line, and as long as the price is below 27.60, our bearish overview will remain valid for today, supported by stochastic reach to the overbought areas, waiting to rebound bearishly to head towards our negative targets that start at 25.60 and extend to 24.60, noting that breaching 27.60 will lead the price to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 25.00 support and 29.00 resistance.
The expected trend for today: Bearish
Midday update for Crude oil 31-03-2020
Crude oil price hovers around the bearish trend line that appears on the chart and fluctuates around the EMA50, and when shifting to the new future contracts’ prices, we find that the price moves around 21.30 level, waiting to get negative motive that supports the chances of resuming the main bearish trend that targets 20.00 followed by 19.00 levels as next main stations.
On the other hand, we should note that breaching 21.70 will stop the negative scenario and push the price to recover on the intraday and short term basis.
The expected trading range for today is between 20.00 support and 24.50 resistance.
The expected trend for today: Bearish