The USDCHF turns to decline – Analysis - 07-04-2021
The USDCHF pair traded with strong negativity yesterday after completing forming head and shoulders’ pattern that its signs appear on the chart, to break 0.9320 level and open the way to achieve more expected decline in the upcoming sessions, noting that the next negative target reaches 0.9210.
The EMA50 supports the expectations to decline, which will remain valid unless the price rallied to breach 0.9350 and hold above it.
The expected trading range for today is between 0.9250 support and 0.9350 resistance.
The expected trend for today: Bearish
The NZDUSD is within negative pattern – Analysis - 07-04-2021
The NZDUSD pair’s recent trades are confined within rising wedge pattern that its signs appear on the chart, thus, the price needs to break 0.7025 to activate the negative effect of this pattern followed by rallying towards our negative targets that reach 0.6895.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 0.7095 and holding above it.
The expected trading range for today is between 0.6980 support and 0.7095 resistance
The expected trend for today: Overall bearish
The AUDUSD attempts positively – Analysis - 07-04-2021
The AUDUSD pair bounced bullishly after testing 0.7615 level yesterday, to fluctuate around 0.7660 level now, noticing that the price keeps its stability below this level until now, accompanied by witnessing negative signals through stochastic.
Therefore, these factors encourage us to keep our bearish overview, which its targets begin by breaking 0.7615 to confirm extending the bearish wave towards 0.7500, reminding you that it is important to hold below 0.7660 to continue the expected decline.
The expected trading range for today is between 0.7580 support and 0.7690 resistance
The expected trend for today: Bearish
Brent oil price settles below the broken support – Analysis - 07-04-2021
Brent oil price returned to decline clearly after testing the bearish channel’s resistance that appears on the chart, to settle below 62.95 level again, which keeps our bearish overview valid and active for the upcoming period, supported by the negative pressure that the EMA50 continues to provide, waiting to head towards 60.30 that represents our next main target.
On the other hand, we should note that breaching 62.95 followed by 64.00 levels will stop the expected decline and lead the price to turn to rise.
The expected trading range for today is between 61.00 support and 64.00 resistance.
The expected trend for today: Bearish