USDCHF breaches the resistance – Analysis - 07-12-2017
The USDCHF pair breached 0.9892 level and closed the daily candlestick above it, to open the way to return to the short term bullish trend, getting positive support by the EMA50 now, reinforcing the chances of achieving more gains in the upcoming sessions.
Therefore, the bullish bias will be suggested for today, and the next main target is located at 1.0038, noting that breaking 0.9892 followed by 0.9840 levels will stop the expected rise and put the price under the correctional bearish track again.
Expected trading range for today is between 0.9840 support and 0.9980 resistance.
Expected trend for today: Bullish
NZDUSD approaches the support – Analysis - 07-12-2017
The NZDUSD pair continues to decline to approach the symmetrical triangle's support line, located now at 0.6830, waiting to break this level to activate the negative effect of the mentioned pattern followed by rallying to attack the previously recorded low at 0.6780, reminding you that breaking this level will extend the pair's losses to reach 0.6620.
Therefore, we will continue to suggest the bearish trend for today, noting that breaching 0.6964 will stop the expected decline and lead the price to start short term bullish correction.
Expected trading range for today is between 0.6780 support and 0.6900
Expected trend for today: Bearish
AUDUSD completes negative pattern – Analysis - 07-12-2017
The AUDUSD pair continued its negative trading to break the minor bullish channel's support that appears on the chart, we forms bearish flag pattern that adds more confirmation to the continuation of the bearish trend in the upcoming period, waiting to test 0.7516 as a next station, noting that breaking this level will confirm extending the bearish wave towards 0.7415.
Therefore, our bearish overview will remain active unless we witnessed clear breach and hold above 0.7633.
Expected trading range for today is between 0.7460 support and 0.7600
Expected trend for today: Bearish
Brent Oil breaks the support – Analysis - 07-12-2017
Brent oil price broke 62.35 level strongly and headed towards 60.95 direct, hinting the price head to achieve more decline in the upcoming sessions, targeting testing the main bullish channel's support that meets 50% Fibonacci correction level at 59.81.
Therefore, we expect witnessing negative trading today, and breaking 60.95 will confirm extending the bearish wave towards our next target, while breaching 62.35 represents positive key that will stop the expected negative pressure and lead the price to regain its main bullish track again.
Expected trading range for today is between 59.80 support and 63.00 resistance.
Expected trend for today: Bearish