The USDCHF price fluctuates around 0.8778 level, waiting to confirm breaking this level to push the price towards our expected negative target at 0.8673.

The negative scenario depends on the completion of the head and shoulders’ pattern that appears on the chart, noting that breaching 0.8805 will cancel the suggested negative formation and lead the price to achieve gains that start by testing 0.8883 areas.

The expected trading range for today is between 0.8710 support and 0.8830 resistance.

Trend forecast: Bearish

The NZDUSD price bounced bearishly after testing 0.5870$ resistance line, to keep the bearish trend scenario valid for the upcoming period, which its targets begin by surpassing 0.5800$ to open the way to head towards 0.5740$.

The negative pressure formed by the EMA50 supports the continuation of the suggested bearish wave, which will remain valid conditioned by the price stability below 0.5870$ and the most important below 0.5935$.

The expected trading range for today is between 0.5770 support and 0.5870$ resistance

Trend forecast: Bearish

The AUDUSD price continued to rise yesterday to test the bearish channel’s resistance line, noticing that the price bounced downwards clearly from there, to keep the bearish trend valid and active for the upcoming period, noting that our targets start at 0.6355$ and extend to 0.6300$.

Therefore, we are waiting for more decline on the intraday basis and short-term basis, supported by the negative signals provided by the technical indicators, noting that breaching 0.6460$ will stop the bearish wave and lead the price to start bullish correction on the intraday basis.

The expected trading range for today is between 0.6340$ support and 0.6440$ resistance

Trend forecast: Bearish

Brent oil price continued to rise yesterday to surpass 72.06$ level and reach 73.00$ barrier, but we notice that the EMA50 forms good resistance against the price, accompanied by witnessing clear negative signals through stochastic, which puts the price under expected negative pressure in the upcoming sessions, waiting to break 72.06$ to confirm opening the way to build bearish wave that its targets begin at 71.15$ and extend to 70.00$.

Therefore, the bearish bias will be suggested for today, noting that breaching 73.00$ will push the price to achieve more gains and test 73.90$ areas direct.

The expected trading range for today is between 71.40$ support and 73.40$ resistance.

Trend forecast: Bearish