The NZDUSD attempts positively – Analysis - 05-07-2022
The NZDUSD pair provided positive trades yesterday but it stopped at the EMA50 that formed good resistance against the price, to decline again and test 0.6210 level, waiting for more bearish bias to head towards our next main target at 0.6100.
Therefore, we will continue to suggest the bearish trend conditioned by the price stability below 0.6270.
The expected trading range for today is between 0.6150 support and 0.6250 resistance
The expected trend for today: Bearish
The AUDUSD achieves intraday gains – Analysis - 05-07-2022
The AUDUSD pair rallied upwards yesterday after breaching 0.6830 level to touch the bearish channel’s resistance that appears on the chart, accompanied by stochastic loss to the positive momentum and entering the overbought areas, while the EMA50 meets the current resistance to add more strength to it.
Therefore, we believe that the chances valid to rebound bearishly and decline towards 0.6830 followed by 0.6755 levels as main negative targets, taking into consideration that breaching 0.6895 will stop the negative scenario and lead the price to achieve more gains in the upcoming period.
The expected trading range for today is between 0.6810 support and 0.6920 resistance
The expected trend for today: Bearish
Brent oil price loses momentum – Analysis - 05-07-2022
Brent oil price provided clear positive trades and approached 114.00 barrier, noticing that the price loses its positive momentum to start turning to decline now, which leads the price to achieve expected decline in the upcoming sessions, targeting testing 110.10 areas again.
Therefore, we expect to witness negative trades on the intraday basis, and breaking the targeted level will extend the bearish wave to reach 107.65 followed by 105.05 levels as next main stations, while the expected decline will remain valid unless the price rallied to breach 115.10 and hold above it.
The expected trading range for today is between 109.50 support and 115.10 resistance.
The expected trend for today: Bearish
Crude oil price hits the positive target – Analysis - 05-07-2022
Crude oil price succeeded to touch our waited target at 109.15 and found solid resistance there, to start today with clear negativity and hint heading to resume the bearish wave, supported by stochastic current negativity, waiting for more decline to visit 104.60 as a main target.
Therefore, the bearish bias will be suggested for today, noting that breaching 109.15 followed by 110.10 levels will stop the expected decline and lead the price to achieve additional gains.
The expected trading range for today is between 105.00 support and 110.50 resistance.
The expected trend for today: Bearish