The USDCHF pair fluctuates around 0.9800 level, accompanied by stochastic reach to the overbought areas now, while the EMA50 keeps pushing negatively on the price and protects trading inside the bearish channel that appears on chart.
Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming sessions, and breaking 0.9800 will confirm opening the way to head towards 0.9730 direct, while the expected decline will remain valid unless breaching 0.9892 and holding with a daily close above it.
Expected trading range for today is between 0.9730 support and 0.9865 resistance.
Expected trend for today: Bearish
The NZDUSD pair succeeded to braech the neckline of the inverted head and shoulders pattern and closed the daily candlestick above it, to confirm activating the positive effect of this patten, reinforcing the expectations for the continuation of the bullish trend in the upcoming period, pointing that the targets of the pattern surpass 0.6964 to reach 0.7077.
Therefore, our positive expectations will remain valid in the upcoming period, pointing that holding above 0.6900 represnts the first condition for the continuation of the expected rise.
Expected trading range for today is between 0.6864 support and 0.7030
Expected trend for today: Bullish
The AUDUSD pair makes attempts to return to the main bearish channel that appears in the above chart after 0.7633 proofed its strength against the last positive attempts, waitin for breaking 0.7595 level to confirm the continuation of the bearish trend that its initial target at 0.7516.
Therefore, the bearish scenario will remain valid in the upcoming sessions conditioned by holding below 0.7633, reminding you that breaking the targeted level will extend the bearish wave to reach 0.7415.
Expected trading range for today is between 0.7516 support and 0.7680
Expected trend for today: Bearish
Brent oil price provided negative trading yesterday to test the EMA50 and bounces higher from there, to keep the positive effect of the double bottom pattern active, waiting for resuming the main bullish trend that its targets begin by testing the recorded top at 64.63.
Breaching the mentioned level will extend the bullish wave to reach 70.00 $, while the expected rise will remain valid unless breaking 62.35 level and holding below it.
Expected trading range for today is between 62.85 support and 66.00 resistance.
Expected trend for today: Bullish