The NZDUSD price continues to fluctuate around the EMA50, keeping its consolidation below the bearish channel’s resistance line, thus, the bearish trend still valid for the upcoming period, waiting to get negative motive that assist to push the price to head towards our main targets that start at 0.5540$ and extend to 0.5450$.

On the other hand, we should note that breaching 0.5610$ will stop the bearish wave and push the price to start bullish correction on the intraday basis.

The expected trading range for today is between 0.5550$ support and 0.5650$ resistance

Trend forecast: Bearish

The AUDUSD price provided positive trades to test the main bearish channel’s resistance line again, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the main bearish trend and head to test 0.6140$ initially.

Holding below 0.6220$ keeps the bearish wave valid and active, as breaching it will lead the price to start bullish correction for the entire decline that started from 0.6942$ areas.

The expected trading range for today is between 0.6150$ support and 0.6250$ resistance

Trend forecast: Bearish

Brent oil price faced negative pressures in the previous sessions to break the bullish channel’s support line and head towards achieving bearish correction for the rise measured from 71.24$ to 82.62$, targeting visiting 80.10$ as a first station, which breaking it represents the key to rally towards the next correctional level at 78.40$.

Therefore, the bearish bias will be suggested for today, noting that breaching 81.65$ will push the price to start recovery attempts and achieve gains that start by testing the recently recorded high at 82.82$.

The expected trading range for today is between 79.30$ support and 82.30$ resistance.

Trend forecast: Bearish

Crude oil price confirmed breaking the bullish channel’s support line, to start bearish correction on the intraday basis, on its way to test 77.53$ initially, noting that breaking this level will push the price towards 75.53$ as a next negative target.

We notice that the price completes forming double top pattern that supports the expectations to decline in the upcoming sessions, taking into consideration that breaching 79.30$ will stop the negative scenario and lead the price to attempt to regain the main bullish trend again.

The expected trading range for today is between 77.00$ support and 80.00$ resistance

Trend forecast: Bearish