The NZDUSD pair shows sideways trading recently, waiting for a bearish rebound to resume the expected bearish trend in the upcoming period, depending on the stability below 0.6426 level, reminding you that our initial target at 0.6340.
Note that breaking the mentioned level will open the way towrdas extending the bearish wave to reach 0.6205 levels on the near term basis, while breahing 0.6426 will lead the price to resume the bullish correctional wave.
The expected trading range for today is between 0.6340 support and 0.6440
The expected trend for today: Bearish
The AUDUSD pair keeps fluctuating near 0.6800 and settles below it, as long as the price below 0.6840, so our bearish trend expectations will remain valid, supported by moving below the EMA50, reminding you that our waited targets begin at 0.6725 and extend to 0.6670.
The expected trading range for today is between 0.6750 support and 0.6840
The expected trend for today: Bearish
Brent oil price couldn’t settle for long time above 62.50 level, to trade with a strong negativity and settles below this level, where it tested the bullish channel’s support at 61.20 now, which signals that there is a possibility to turn to the downside, on the other hand, we notice that stochastic shows a clear oversold signals that support the strength of the current support levels.
Therefore, the contradiction between the technical factors makes us stay aside temporarily until getting a clearer signal for the next trend, which we will get it by breaking 61.20 support or breaching the resistance at 62.50, pointing that breaking this support will push the price to visit the most important support for the short term trading at 59.60, while braeching the resistance will open the way towards new recovery attempts and achieving positive targets that reach 65.40.
The expected trading range for today is between 60.00 support and 63.00 resistance.
The expected trend for today: Neutral
Crude oil price settled below 57.40 level affected by the doubts to reach an agreement between USA and China, as the price fluctuates around the EMA50, which makes us prefer staying aside until the next destination becomes clearer, noting that we need to break 55.90 support or breaching 57.40 resistance to confirm the next trend.
Note that breaking the mentioned support will press on the price to achieve more decline and visit 54.60 level as a first negative target, while breaching the resistance will lead the price to resume trading inside the bullish channel that has targets that start at 59.25 and extend to 60.90.
The expected trading range for today is between 55.50 support and 58.50 resistance.
The expected trend for today: Neutral