NZD USD retests – Analysis - 12/03/2015
The NZDUSD pair ended yesterday’s trading with clear positivity followed by today’s positive opening, to retest 0.7330 that turns into key resistance after breaking it previously, accompanied by stochastic reach to the overbought levels, which supports the strength of the mentioned resistance and keep the bearish trend scenario valid until now, waiting to head towards 0.6860 level as a next main station.
The EMA50 supports the suggested decline, which its continuation requires holding below 0.7330 and 0.7390.
Expected trading range for today is between: 0.7200 support and 0.7390 resistance.
Expected trend for today: Bearish
AUD USD within sideways track – Analysis - 12/03/2015
The AUDUSD pair shows sideways trading around 0.7600 level, while stochastic loses its positive momentum gradually to support the chances of resuming the bearish trend inside the main bearish channel, supported by the EMA50, waiting to target areas near 0.7400.
Overall, we will continue to suggest the bearish trend in the upcoming period unless breaching 0.7800 level and holding above it.
Expected trading range for today is between: 0.7500 support and 0.7700
Expected trend for today: Bearish
Crude Oil confirms the break – Analysis - 12/03/2015
Crude oil price confirmed breaking the sideways range’s support, which turns into resistance now at 48.65, to open the way towards trading negatively in the upcoming trading, where we wait for heading towards 46.25 level as a next main station.
Note that the price finds strong support at 47.90, which represents 61.8% Fibonacci correction level of the bullish wave that appears in the image, therefore, breaking this level required to confirm the continuation of the bearish trend, taking into consideration that breaching 48.65 level will stop the current negative pressure and pushes the price to recovery attempts that its main targets begin at 51.20.
Expected trading range for today is between 46.25 support and 50.00 resistance.
Expected trend for today: Bearish
Silver approaches the first target – Analysis - 12/03/2015
Silver price showed negative trading yesterday to approach from the first waited target at 15.00, waiting for breaking this level to open the way towards visiting the recently recorded bottom at 14.40.
The EMA50 continues to support the expected bearish wave, which its continuation requires holding below 16.05, where breaching this level will lead the price to achieve intraday gains that begin at 17.10 and extend to 18.80.
Expected trading range for today is between: 14.40 support and 16.05 resistance.
Expected trend for today: Bearish