The USDCHF tests the support base – Analysis - 07-10-2021
The USDCHF pair tested 0.9265 level and keeps its stability above it, accompanied by stochastic reach to the oversold areas, to form positive motive that we are waiting to assist to push the price to resume the positive trades, waiting to visit 0.9345 level mainly.
Therefore, the bullish trend scenario will remain valid and active for the upcoming period conditioned by the price stability above 0.9240.
The expected trading range for today is between 0.9240 support and 0.9345 resistance.
The expected trend for today: Bullish
The NZDUSD faces solid support – Analysis - 07-10-2021
The NZDUSD pair found solid support at 0.6890, as it forced it to rebound bullishly, and it might test the minor resistance 0.6945 before turning back to decline again.
In general, we will continue to suggest the bearish trend for the upcoming period unless breaching 0.6990 and holding above it, noting that the EMA50 supports the suggested negative scenario, which its next main target located at 0.6805.
The expected trading range for today is between 0.6860 support and 0.6960 resistance
The expected trend for today: Bearish
The AUDUSD attempts positively – Analysis - 07-10-2021
The AUDUSD pair returned to rise and test 0.7290 level, which urges caution from the upcoming trading, as the price needs to hold below this level to keep the negative scenario active, which its next main target located at 0.7170.
Stochastic loses its positive momentum to support the chances of resuming the expected decline, noting that breaching 0.7290 will lead the price to achieve additional gains that reach 0.7360.
The expected trading range for today is between 0.7220 support and 0.7320 resistance
The expected trend for today: Bearish
Brent oil price keeps achieving the negative targets – Analysis - 07-10-2021
Brent oil price keeps declining to approach the first extended target at 79.90, and we expect to break this level to open the way to head towards the bullish channel’s support line at 77.90.
Therefore, the negative scenario will remain dominant on the intraday basis, noting that breaking 80.90 is considered as an initial positive key that will lead the price to attempt to return to the main bullish trend again.
The expected trading range for today is between 78.50 support and 81.50 resistance.
The expected trend for today: Bearish