The USDCHF surpasses the resistance – Analysis - 24-03-2021
The USDCHF pair rallied upwards strongly to breach 0.9318 level and settles above it, which stop the recently suggested negative scenario and lead the price to resume the main bullish trend, on its way to achieve positive targets that start at 0.9375 and extend to 0.9494.
Note that the continuation of the expected bullish wave requires holding above 0.9318.
The expected trading range for today is between 0.9300 support and 0.9400 resistance.
The expected trend for today: Bullish
The NZDUSD reaches the extended target – Analysis - 24-03-2021
The NZDUSD pair traded with strong negativity to succeed achieving our extended target at 0.7000, noticing that the price begins today with more decline to attack this level, which hints that the price is on its way to achieve more decline on the intraday and short term basis, as a bearish correction for the entire bullish wave measured from 0.5468 to 0.7464.
Therefore, we expect the domination of the bearish trend in the upcoming sessions, and the next target is located at 0.6895, noting that holding below 0.7000 is required to continue the suggested negative scenario.
The expected trading range for today is between 0.6910 support and 0.7040 resistance
The expected trend for today: Bearish
The AUDUSD surpasses the target – Analysis - 24-03-2021
The AUDUSD pair succeeded to achieve our waited target at 0.7615 and surpassed it to settle below it now, which confirms the continuation of the bearish wave in the upcoming period, paving the way to head towards 0.7500 as a next target.
The EMA50 supports the suggested negative scenario, taking into consideration that failing to hold below 0.7615 will lead the price to start recovery attempts that target testing 0.7765 areas initially.
The expected trading range for today is between 0.7540 support and 0.7650 resistance
The expected trend for today: Bearish
Brent oil price hits the extended negative targets – Analysis - 24-03-2021
Brent oil price continued its strong decline yesterday to succeed touching our extended target at 60.30, showing some bullish bias now affected by stochastic positivity, but we suggest resuming the negative trades to head towards 57.74 that represents the next main target of the current bearish wave.
Therefore, the bearish trend will remain suggested for the upcoming period conditioned by the price stability below 62.35.
The expected trading range for today is between 59.50 support and 62.35 resistance.
The expected trend for today: Bearish