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The NZDUSD resumes the decline – Analysis - 05-10-2021
The NZDUSD pair resumes its negative trading after reaching 0.6990 areas, to keep the breaish trend scenario valid and active, waiting to test 0.6890 level initially, noting that breaking this level will extend the bearish wave to reach 0.6805.
The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 0.6990.
The expected trading range for today is between 0.6880 support and 0.6990 resistance
The expected trend for today: Overall bearish
The AUDUSD breaches the channel’s resistance – Analysis - 05-10-2021
The AUDUSD pair kept rising to breach the bearish channel’s resistance, but we notice that the price stopped at 38.2% Fibonacci correction level for the decline measured from 0.7478 to 0.7172, which hints heading to return to decline again, and it needs to break 0.7245 to confirm continuing the decline towards 0.7170 initially.
MoreBrent oil price resumes the rise – Analysis - 05-10-2021
Brent oil price resumed its positive trading by today’s open, to approach our extended waited target at 82.00, and we expect to surpass this level to visit the bullish channel’s resistance, located at 82.70 now.
MoreCrude oil price rises strongly – Analysis - 05-10-2021
Crude oil price’s rise stopped at 78.35, to show temporary negative trades, noticing that the price completed forming bullish flag pattern that appears on the minor image, as it breached this pattern’s resistance to get positive motive that we expect to push the price to achieve additional gains that reach 79.00 followed by 80.00.
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