The USDCHF continues to decline – Analysis - 08-04-2021
The USDCHF pair provided new negative trades to move away from 0.9320 level, reinforcing the expectations of continuing the bearish trend, affected by the head and shoulders’ pattern that appears on the chart, besides the negative pressure formed by the EMA50, waiting to visit 0.9210 as a next main target.
We remind you that the continuation of the bearish wave depends on the price stability below 0.9350.
The expected trading range for today is between 0.9230 support and 0.9350 resistance.
The expected trend for today: Bearish
The NZDUSD completes the negative pattern – Analysis - 08-04-2021
The NZDUSD pair succeeded to break the rising wedge’s support line mentioned yesterday and settled below it, to activate the negative effect of this pattern, waiting for more decline to break 0.7000 and confirm opening the way to head towards 0.6895 that represents our next negative target.
Therefore, the bearish trend scenario will remain valid and active for the upcoming sessions unless the price rallied to breach 0.7095 and hold above it.
The expected trading range for today is between 0.6950 support and 0.7070 resistance
The expected trend for today: Bearish
The AUDUSD breaks the support – Analysis - 08-04-2021
The AUDUSD pair managed to break 0.7615 level and closed the daily candlestick below it, which supports the continuation of our bearish overview efficiently for the upcoming period, paving the way to head towards 0.7500 that represents our next negative target.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis conditioned by the price stability below 0.7665.
The expected trading range for today is between 0.7560 support and 0.7665 resistance
The expected trend for today: Bearish
Brent oil price shows mixed trades – Analysis - 08-04-2021
Brent oil price declined strongly yesterday to reach 61.60 level, and bounced bullishly to settle around 62.95 again, noticing that the price closed the daily candlestick below this level, to keep the chances valid to continue the expected bearish trend for the upcoming period, which gets continuous support by the EMA50.
Our waited targets begin at 60.30 and extend to 57.75, while achieving them requires holding below 62.95 and the most important below 63.85.
The expected trading range for today is between 61.30 support and 64.00 resistance.
The expected trend for today: Bearish