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USDCHF breaches the initial resistance – Analysis - 08-03-2018
The USDCHF pair traded positively yesterday to breach 0.9415 level and settles above it, to cancel the negative formation mentioned in our last report, and the price is stuck now between the key levels represented by 0.9373 support and 0.9488 resistance, as it needs to breach one of these levels to detect the next destination clearly.
Therefore, we will stay aside until we get clearer signal for the next trend, and the contradiction between the EMA50 positivity and stochastic negativity provides another reason for neutrality, noting that breaching 0.9488 will push the price for more bullish correction that its next target located at 0.9581, while breaking 0.9373 will bring the price back to the main bearish track that its next main target located at 0.9186.
Expected trading range for today is between 0.9360 support and 0.9500 resistance.
Expected trend for today: Depends on the above mentioned levels
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NZDUSD completes positive formation – Analysis - 08-03-2018
The NZDUSD pair begins today’s trading positively to move above 0.7281 level, as the price is affected by the double bottom pattern that was completed previously, which its signs appear on the above chart, supporting the chances of achieving more gains in the upcoming sessions, to start the positive targets at 0.7335 and extend to 0.7436.
MoreAUDUSD breaches the resistance – Analysis - 08-03-2018
The AUDUSD pair surpassed 0.7818 level and closed the daily candlestick above it, to open the way to start attempts to regain the main bullish trend, targeting testing 0.7893 followed by 0.7986 levels as next main stations.
MoreBrent oil tests the critical support – Analysis - 08-03-2018
Brent oil price traded with strong negativity on yesterday’s evening to test the key support 64.00, and as we mentioned in our recent reports, holding above this level keeps the overall bullish trend scenario valid, as breaking it will force the price to visit 61.71 areas on the near term basis.
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