USDCHF breaches the resistance – Analysis - 16-03-2018
The USDCHF pair rallied upwards clearly yesterday to breach 0.9488 level and settles above it, opening the way to extend the bullish correction on the intraday and short term basis, to head towards testing 0.9581 level as a next station.
Therefore, the bullish trend will be expected in the upcoming sessions, supported by the EMA50 that reinforces the continuation of moving inside the bullish channel that appears on the chart, noting that the continuation of the expected rise depends on the price stability above 0.9488 and 0.9445 levels.
Expected trading range for today is between 0.9445 support and 0.9581 resistance.
Expected trend for today: Bullish
NZDUSD breaks the support – Analysis - 16-03-2018
The NZDUSD pair broke 0.7281 level strongly and settled below it, to turn the intraday trend to decline, targeting heading towards 0.7185 level again, which represents 38.2% Fibonacci correction level for the rise measured from 0.6779 to 0.7436.
Therefore, we are waiting for more decline in the upcoming sessions unless we witnessed clear breach and hold above 0.7281.
Expected trading range for today is between 0.7150 support and 0.7320
Expected trend for today: Bearish
AUDUSD under strong negative pressure – Analysis - 16-03-2018
The AUDUSD pair showed strong negativity yesterday to break 0.7818 level and settles below it, which puts the price under more expected negative pressure in the upcoming period, targeting testing 0.7743 level as a next station, noting that breaking this level will extend the pair’s losses to reach 0.7650 on the near term basis.
Therefore, the bearish trend will be suggested unless the price managed to breach 0.7818 level and hold above it.
Expected trading range for today is between 0.7700 support and 0.7850
Expected trend for today: Bearish
Brent oil still stuck – Analysis - 16-03-2018
Brent oil price continues to fluctuate within sideways track, confined between 64.00 support and 65.40 resistance, and as we mentioned in our recent reports, the price needs to breach one of these levels to detect its next track clearly, which keeps our neutrality valid until now.
We remind you that breaking the mentioned support will push the price to head towards 61.71 as a next main station, while breaching the resistance will lead the price to achieve gains that start at 66.54 and extend to 67.68 followed by 69.08.
Expected trading range for today is between 64.50 support and 66.54 resistance.
Expected trend for today: Depends on the above mentioned levels