The NZDUSD surpasses the first target – Analysis - 06-05-2021
The NZDUSD pair succeeded to achieve our first waited target at 0.7200 and breached it to settle above it, rienforcing the expectations of extending the bullish wave on the intraday and short term basis, reminding you that our next target is located at 0.7325.
On the other hand, we should note that the continuation of the expected bullish trend requires holding above 0.7145.
The expected trading range for today is between 0.7170 support and 0.7290 resistance
The expected trend for today: Bullish
The AUDUSD approaches the first target – Analysis - 06-05-2021
The AUDUSD pair shows positive trades to reach the thresholds of the first waited target at 0.7765, and we believe that the chances valid to surpass this level and achieve extended positive targets that reach 0.7835 followed by 0.7900.
Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 0.7710 and the most important above 0.7660.
The expected trading range for today is between 0.7700 support and 0.7820 resistance
The expected trend for today: Bullish
Brent oil price reaches the second target – Analysis - 06-05-2021
Brent oil price reached few pips away from our second waited target at 70.00, to rebound bearishly and settle around 68.50 now, and as we mentioned in our recent reports, the price needs to consolidate above 68.05 to keep the positive scenario valid for the upcoming period, as breaking it will press on the price to visit 66.65 level before any new attempt to rise.
The EMA50 continues to support the suggested bullish wave, which its next main target located at 71.35.
The expected trading range for today is between 67.50 support and 70.00 resistance.
The expected trend for today: Bullish
Crude oil price is affected by the negative momentum – Analysis - 06-05-2021
Crude oil price bounced downwards clearly after approaching 67.00 barrier, to break 65.60 level and head towards potential test to the most important support line at 64.35, noticing that stochastic got rid of its negative momentum to reach the oversold areas.
Therefore, these factors encourage us to suggest resuming the main bullish trend, organized inside the bullish channel that appears on the chart, noting that our next target reaches 67.95, while breaking 64.35 represents negative factor that will press on the price to suffer more intraday losses before turning back to rise again.
The expected trading range for today is between 64.00 support and 67.00 resistance.
The expected trend for today: Bullish