The USDCHF retests the neckline – Analysis - 08-11-2023
The USDCHF pair continued to rise to rest the broker neckline of the double top pattern, and the EMA50 meets this level to add more strength to it, waiting to resume the negative trading that its targes begin by breaking 0.8968 to open the way to head towards 0.8889.
Therefore, the bearish trend scenario will remain active conditioned by the price stability below 0.9020.
The expected trading range for today is between 0.8940 support and 0.9060 resistance.
The expected trend for today: Bearish
The NZDUSD approaches the target – Analysis - 08-11-2023
The NZDUSD pair settles around 0.5930, waiting for more bearish bias to test 0.5900 level that represents our main target, reminding you that breaking it will extend the bearish wave to reach 0.5850 areas.
Until now, the bearish trend scenario still active, reminding you that it is important to hold below 0.5960 as an initial condition to the continuation of the expected decline.
The expected trading range for today is between 0.5880 support and 0.5980 resistance
The expected trend for today: Bearish
The AUDUSD touches the target – Analysis - 08-11-2023
The AUDUSD pair managed to touch our waited target at 0.6400, and finds solid support there to show some bullish bias now, affected by stochastic positivity, to head towards achieving intraday gains that might reach 0.6545.
Therefore, we expect to witness more rise in the upcoming sessions, noting that breaking 0.6400 will push the price to resume the bearish track and head towards 0.6340 as a next negative station.
The expected trading range for today is between 0.6380 support and 0.6490 resistance
The expected trend for today: Bullish
Brent oil price surpasses the target – Analysis - 08-11-2023
Brent oil price broke 83.87 level strongly and rallied bearishly to approach our extended target at 81.00, waiting for more expected decline in the upcoming sessions, it might be preceded by some temporary sideways fluctuation affected by stochastic positivity.
The EMA50 supports the continuation of the expected bearish trend, noting that it is important to hold below 83.87 to achieve the waited targets.
The expected trading range for today is between 80.70 support and 83.60 resistance.
The expected trend for today: Bearish