The USDCHF tests the resistance – Analysis - 08-08-2022
The USDCHF pair rallied upwards to test the key resistance 0.9630, keeping its stability below it until now, accompanied by witnessing clear negative signals through stochastic, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets testing 0.9530 initially.
On the other hand, we should note that breaching 0.9630 and holding above it will stop the expected decline and lead the price to achieve additional gains on the intraday and short term basis.
The expected trading range for today is between 0.9540 support and 0.9660 resistance.
The expected trend for today: Bearish
The NZDUSD breaks the support – Analysis - 08-08-2022
The NZDUSD pair broke 0.6257 level strongly and settled below it, to fall under expected negative pressure in the upcoming sessions, targeting visiting 0.6182 level mainly.
Therefore, the bearish bias will be suggested for today, noting that breaching 0.6257 and holding above it again will reactivate the positive scenario that its next target located at 0.6318.
The expected trading range for today is between 0.6180 support and 0.6280 resistance
The expected trend for today: Bearish
The AUDUSD faces negative pressure – Analysis - 08-08-2022
The AUDUSD pair traded with strong negativity in the previous sessions to attack 0.6910 level, but it closed the daily candlestick exactly at this level, to start today with bullish bias that hints heading to resume the bullish trend, which its targets begin at 0.6980 and extend to 0.7050.
Therefore, our bullish overview will remain valid and active conditioned by the price stability above 0.6910.
The expected trading range for today is between 0.6880 support and 0.7000 resistance
The expected trend for today: Bullish
Brent oil price within negative pattern – Analysis - 08-08-2022
Brent oil price’s recent trades are confined within bearish flag pattern, and the price needs to break 97.15 to activate the negative effect of this pattern followed by rallying to achieve our negative targets that start at 95.90 and extend to 90.45.
The bearish channel continues to organize the expected bearish wave, which gets continuous support by the EMA50, noting that breaching 100.95 followed by 102.25 levels will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 95.00 support and 99.50 resistance.
The expected trend for today: Bearish