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The USDCHF is satisfied with the first target – Analysis - 03-05-2023
The USDCHF pair touched our first waited targe tat 0.8995 and bounced downwards strongly from there, to hint stopping the bullish correction and head to resume the main bearish trend again, on its way to test 0.8860 level initially, noting that breaking this level will push the price to achieve additional negative targets that start at 0.8800 and extend to 0.8705.
Therefore, the bearish bias will be expected for the upcoming period, noting that breaching 0.8995 will stop the bearish wave and push the price to achieve more bullish correction.
The expected trading range for today is between 0.8830 support and 0.8970 resistance.
The expected trend for today: Bearish
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The NZDUSD surpasses the first target – Analysis - 03-05-2023
The NZDUSD pair traded with clear positivity to surpass our first waited target at 0.6225 and confirm the continuation of the bullish trend domination on the intraday basis, waiting to visit 0.6290 level as a next main target.
MoreThe AUDUSD consolidates below the resistance – Analysis - 03-05-2023
The AUDUSD pair tested the correctional bearish channel’s resistance line and bounced bearishly from there, to keep the bearish trend scenario active for the upcoming period, which targets 0.6550 areas as a next main station.
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Brent oil prices declined sharply yesterday after breaking 78.90 level, to achieve our waited negative target at 76.85 and break it to close the daily candlestick below it, opening the way to continue the decline and achieve additional negative targets that reach 74.30.
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