The USDCHF resumes the decline – Analysis - 05-08-2022
The USDCHF pair traded with clear negativity to approach our first waited target at 0.9530, and we expect the continuation of the bearish bias to break this level and extend the bearish wave towards 0.9400 areas.
Therefore, we will continue to suggest the bearish trend supported by the negative pressure formed by the EMA50 unless breaching 0.9630 and holding with a daily close above it.
The expected trading range for today is between 0.9500 support and 0.9600 resistance.
The expected trend for today: Bearish
The NZDUSD is affected by the negative momentum – Analysis - 05-08-2022
The NZDUSD pair shows some slight bearish bias now, affected by stochastic negativity, which attempts to gain the positive momentum on the intraday time frames, waiting to resume the bullish wave that its targets begin breaching 0.6320 to open the way to visit 0.6380.
The bullish channel continues to support the suggested bullish wave, which will remain valid conditioned by the price stability above 0.6257.
The expected trading range for today is between 0.6230 support and 0.6350 resistance
The expected trend for today: Bullish
The AUDUSD faces solid resistance – Analysis - 05-08-2022
The AUDUSD pair finds solid resistance at 0.6980, to show some temoprary bearish bias, noticing that stochastic gains the positive momentum gradually, waiting to motivate the price to resume the bullish bias and breach the mentioned level to confirm heading towards 0.7050 as a next station.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 0.6910 and holding below it.
The expected trading range for today is between 0.6910 support and 0.7030 resistance
The expected trend for today: Bullish
Brent oil price keeps declining – Analysis - 05-08-2022
Brent oil price traded with strong negativity yesterday to reach 96.90 areas, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, organized inside the bearish channel that supports the chances of achieving our negative targets that start at 95.90 and extend to go further towards 90.45.
Therefore, we are waiting for more expected decline in the upcoming period supported by the negative pressure formed by the EMA50, taking into consideration that breaching 99.00 might push the price to achieve intraday gains and test 102.25 areas before any new attempt to decline.
The expected trading range for today is between 95.00 support and 99.20 resistance.
The expected trend for today: Bearish