The NZDUSD resumes the decline – Analysis - 08-11-2019
The NZDUSD pair bounced bearishly after the rise that it witnessed yesterday, to keep the bearish trend active on the intraday basis, waiting to break 0.6340 level to confirm the continuation of the bearish wave towards our negative targets that begin at 0.6285 and extend to 0.6205.
In general, we will continue to suggest the bearish trend unless the price rallied to breach 0.6426 level and hold with a daily close above it.
The expected trading range for today is between 0.6285 support and 0.6400
The expected trend for today: Bearish
The AUDUSD presses on the support – Analysis - 08-11-2019
The AUDUSD pair continues to fluctuate around 0.6895 level and keeps its stability below it, starting new attempts to break the intraday bullish channel’s support line that appears on the chart, to kepe the bearish trend scenario valid for the upcoming period, waiting to visit 0.6825 followed by 0.6755 levels as next main targets.
On the other hand, we should note that breaching 0.6895 and holding above it again will reactivate the correctional bullish scenario that its first main target located at 0.7015.
The expected trading range for today is between 0.6800 support and 0.6930
The expected trend for today: Bearish
Brent oil price tests the resistance again – Analysis - 08-11-2019
Brent oil price tested 62.50 and bounced bearishly again, to keep the bearish trend valid and active in the upcoming period, supported by the negative overlapping signal provided by stochastic, waiting to surpass the EMA50 that forms intraday support barrier now at 61.30 to ease the mission of heading towards our main expected target at 59.60.
We remind you that the continuation of the expected bearish trend depends on the stability of the daily close below 62.50.
The expected trading range for today is between 59.60 support and 62.50 resistance.
The expected trend for today: Bearish
Crude oil price keeps its negative stability – Analysis - 08-11-2019
Crude oil price bounced bearishly to settle below 57.40 level again, as it attempted to breach it yesterday, which keeps the bearish trend scenario active for the upcoming period, waiting to achieve our targets that begin at 56.00 and extend to 54.60.
Holding below 57.40 is important to continue the suggested decline, as breaching it will push the price to resume the bullish wave that start last month and achieve new gains that reach 60.90.
The expected trading range for today is between 54.60 support and 58.00 resistance.
The expected trend for today: Bearish