USDCHF faces solid resistance – Analysis - 09-05-2018
The USDCHF pair’s recent trades are confined within mew minor bearish channel that we believe it forms bullish flag pattern, thus, the price needs to breach 1.0035 to activate the positive effect of this pattern followed by rallying towards our waited target at 1.0100.
Therefore, we will continue to suggest the bullish trend supported by the EMA50, unless we witnessed clear break and hold below 1.0000.
Expected trading range for today is between 0.9980 support and 1.0100 resistance.
Expected trend for today: Bullish
NZDUSD approaches the target – Analysis - 09-05-2018
The NZDUSD pair continues to decline to apporach our waited target at 0.6934, which represents 76.4% Fibonacci correction level for the rise measured from 0.6779 to 0.7436, which means that breaking this level will extend the bearish wave to target the mentioned low at 0.6779 as a next station.
The EMA50 keeps pushing negatively on the price to support the chances of continuing the decline, making the bearish trend suggested in the upcoming sessions unless the price managed to breach 0.7030 level and hold above it.
Expected trading range for today is between 0.6880 support and 0.7030
Expected trend for today: Bearish
AUDUSD confirms the break – Analysis - 09-05-2018
The AUDUSD pair shows strong negative trades after confirming breaking 0.7500 level, to approach our waited negative target at 0.7370, supported by the negative pressure formed by the EMA50.
Therefore, we are waiting for more decline in the upcoming sessions unless breaching 0.7500 level and holding above it, noting that breaking 0.7370 will push the price towards 0.7300 direct.
Expected trading range for today is between 0.7350 support and 0.7500
Expected trend for today: Bearish
Brent oil tests the support – Analysis - 09-05-2018
Brent oil price traded with strong negativity yesterday to test the key support 73.58, but it bounced upwards strongly from there to surpass 77.00$ barrier and approaches 78.00 level, which supports the continuation of the overall bullish trend scenario, which its extended target located at 78.90.
Therefore, we are waiting for more rise today supported by the EMA50, conditioned by the price stability above 73.58.
Expected trading range for today is between 76.00 support and 79.00 resistance.
Expected trend for today: Bullish