The USDCHF achieves intraday gains – Analysis - 03-08-2022
The USDCHF pair provided clear positive trades yesterday to breach 0.9530, but it faces solid resistance formed by the EMA50 at 0.9585, to force the price to rebound bearishly by today’s open, accompanied by witnessing clear negative signals through stochastic now.
Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, and the targets begin by breaking 0.9530 again to reinforce the chances of continuing the negative scenario that its next target reaches 0.9400, noting that the continuation of the bullish wave requires holding below 0.9585 and the most important below 0.9630.
The expected trading range for today is between 0.9480 support and 0.9600 resistance.
The expected trend for today: Bearish
The NZDUSD surpasses the negative target – Analysis - 03-08-2022
The NZDUSD pair achieved more decline yesterday to surpass the suggested negative target at 0.6257 and settles below it, but it begins today with clear positivity to hint the attempt to regain the correctional bullish trend, to stay aside until the price confirms its situation according to the mentioned level, which represents the next trend key.
Note that breaching 0.6257 will push the price to resume the bullish wave and achieve gains that start at 0.6320 extend to 0.6380, while failing to breach it will put the price under additional negative pressure that targets 0.6180 areas initially.
The expected trading range for today is between 0.6180 support and 0.6310 resistance
The expected trend for today: Neutral
The AUDUSD consolidates above the key support – Analysis - 03-08-2022
The AUDUSD pair continued to decline to reach 0.6910 level, noticing that the price begins today with clear positivity to hint resuming the correctional bullish trend, to suggest the bullish bias in the upcoming sessions, targeting 0.6980 followed by 0.7050 levels as next main stations.
Stochastic provide positive signals that support the expected rise, which will remain valid unless breaking 0.6910 and holding below it.
The expected trading range for today is between 0.6880 support and 0.7000 resistance
The expected trend for today: Bullish
Brent oil price achieves temporary gains – Analysis - 03-08-2022
Brent oil price rallied upwards strongly yesterday to breach the bearish channel’s resistance and achieve intraday gains that reached 106.45, but it returns to decline and fluctuate around the mentioned channel’s resistance, as it falls under continuous negative pressure coming by the EMA50, to support the chances of resuming the main bearish trend, waiting to test 102.25 initially.
Therefore, we expect to witness negative trades in the upcoming sessions, and breaking 102.25 will push the price to 99.25 areas on the near term basis, while the expected decline will remain valid unless the price rallied to breach 105.75 and hold above it.
The expected trading range for today is between 100.00 support and 105.75 resistance.
The expected trend for today: Bearish