The USDCHF pair faced strong negative pressure yesterday to break 0.9860 level and reach 50% Fibonacci correction level at 0.9630, noticing that the price finds solid support there, to start bouncing bullishly and build new bullish wave, supported by stochastic positivity, which encourages us to suggest the bullish bias for the upcoming period, targeting 0.9730 followed by 0.9860 levels as next main stations.
Holding above 0.9630 is important to continue the expected rise, as breaking it will press on the price to suffer additional losses in the upcoming period.
The expected trading range for today is between 0.9650 support and 0.9800 resistance.
The expected trend for today: Bullish
The NZDUSD pair rallied upwards to few pips away from our waited positive target at 0.6405, noticing that the price rebounds bearishly by today’s open, to head towards resuming the bearish trend to visit 0.6210 areas on the near term basis.
Therefore, we expect to witness more decline in the upcoming sessions unless the price rallied to breach 0.6405 and hold above it.
The expected trading range for today is between 0.6260 support and 0.6370 resistance
The expected trend for today: Bearish
The AUDUSD pair bounced bullishly yesterday to touch 0.7050 level, noticing that the price faced solid resistance there to start declining, which hints heading to resume the bearish trend, waiting to break 0.6995 to confirm the continuation of the decline towards 0.6930 as a next negative station.
Therefore, the bearish bias will be suggested for the upcoming period unless breaching 0.7050 and holding above it.
The expected trading range for today is between 0.6950 support and 0.7060 resistance
The expected trend for today: Bearish
Brent oil price succeeded to achieve our waited target at 115.10 and bounced bullishly to retest the broken neckline of the double top pattern that appears on the chart, keeping its stability below it to keep the negative effect of this pattern active, waiting to resume the bearish trend that its targets begin by breaking the mentioned level to open the way to hea towards 110.10.
The EMA50 and stochastic support the suggested negative scenario, noting that breaching 118.00 might push the price to test 121.30 areas before detecting the destination clearly.
The expected trading range for today is between 114.50 support and 119.50 resistance.
The expected trend for today: Bearish