NZDUSD Price Forecast - 03-04-2024

NZDUSD Analysis

• The NZDUSD price trades slightly positive, testing the 0.5960$ level.
• However, the EMA50 continues to exert negative pressure on the price.
• Expected bearish wave for the upcoming period targets testing 0.5915$.
• Holding below 0.6000$ is crucial for the expected decline, while breaching it may lead to recovery attempts.

Expected Trading Range for Today

• Between 0.5900$ support and 0.6000$ resistance.

Trend Forecast: Bearish

AUDUSD Price Forecast Update - 03-04-2024

AUDUSD Analysis

• The AUDUSD price settled above 0.6500$ level, indicating a potential bullish wave.
• However, the EMA50 acts as solid resistance, and stochastic approaches overbought areas.
• Due to conflicting technical factors, it's preferable to stay aside for clearer signals.
• Continued rise and breaching 0.6525$ could lead to gains up to 0.6570$.
• Breaking 0.6500$ may resume the main bearish wave, targeting 0.6450$ and 0.6410$.

Expected Trading Range for Today

• Between 0.6450$ support and 0.6560$ resistance.

Trend Forecast: Neutral

Brent Oil Analysis

• Brent oil price continues to rise towards the next main target at the psychological barrier of 90.00$ per barrel.
• Expectation of the bullish trend to continue, targeting new positive levels up to 91.00$ upon surpassing the previous level.
• Possible sell-offs and profit taking when testing the psychological barrier.
• Breaking 88.60$ may temporarily halt the bullish wave, pushing the price to test the first key support at 87.40$.

Expected Trading Range for Today

• Between 88.30$ support and 91.20$ resistance.

Trend Forecast: Bullish

Crude Oil Price Forecast - 03-04-2024

Crude Oil Analysis

• Crude oil price settles around 85.50$ level after a recent rise.
• Waiting for positive momentum to assist in resuming the expected bullish trend, with the next target at 86.75$.
• The EMA50 continues to support the suggested bullish wave, protecting trades inside the bullish channel.
• Breaking 83.56$ will halt the expected rise, initiating a bearish correction on the intraday basis.

Expected Trading Range for Today

• Between 84.30$ support and 87.20$ resistance.

Trend Forecast: Bullish