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NZDUSD completes positive formation – Analysis - 02-08-2016
By taking a deeper look at the intraday time frames, we find that the NZDUSD pair managed to complete forming falling wedge pattern appears on the minor image, as it begins the breaching process of this pattern's resistance, accompanied by witnessing clear positive signals through stochastic, besides the positive support provided by the EMA50.
Therefore, these factors encourage us to keep our bullish trend overview on the intraday and short term basis, and the next target located at 0.7323, noting that the continuation of the bullish trend conditions holding above 0.7090 level.
Expected trading range for today is between 0.7100 support and 0.7300
Expected trend for today: Bullish
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AUDUSD tests the support – Analysis - 02-08-2016
The AUDUSD pair is testing the minor bullish channel's support after it found solid resistance at 0.7595, as 0.7530 level forms the first protecting factor to the continuation of the bullish trend scenario suggested in our recent reports, which mainly depends on the stability above 0.7448 level.
MoreBrent Oil suffers sharp losses – Analysis - 02-08-2016
Brent oil price bounced downwards sharply yesterday after testing the key resistance level that declines now to 43.75, as the price closed the daily candlestick below 43.00 level, which confirms the activation of the bearish trend scenario as we mentioned in our last technical update.
MoreCrude Oil attacks the psychological barrier – Analysis - 02-08-2016
Crude oil price suffered sharp losses yesterday after the successful retest process to 41.87 level, to test 40.00$ per barrel barrier, which supports the continuation of our bearish overview efficiently on the intraday and short term basis, waiting to target 38.84 level that represents the next main target of the current bearish wave.
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