USDCHF touches the target – Analysis - 24-04-2018
The USDCHF pair succeeded to achieve our waited target at 0.9790, and the bullish channel keeps organizing the price move on the intraday and short term basis, which its resistance line located at 0.9835, to suggest the continuation of the bullish bias in the upcoming sessions to touch the mentioned level followed by 0.9900, supported by the EMA50 that carries the price from below.
Therefore, the bullish trend will remain dominant for today, noting that failing to breach 0.9790 will stop the expected rise and push the price to test 0.9675 level initially.
Expected trading range for today is between 0.9720 support and 0.9860 resistance.
Expected trend for today: Bullish
NZDUSD reaches the second target – Analysis - 24-04-2018
The NZDUSD pair rallied downwards strongly yesterday to break 0.7185 level and reaches the next waited target at 0.7108, which represents 50% Fibonacci correction for the rise from 0.6780 to 0.7436, thus, breaking this level will push the price towards 61.8% Fibonacci correction level at 0.7030.
Note that breaking 0.7185 completed forming negative formation that will push the price to suffer more losses on the short term basis, therefore, we suggest the continuation of the bearish bias in the upcoming sessions unless the price managed to braech 0.7185 level and hold above it.
Expected trading range for today is between 0.7030 support and 0.7185
Expected trend for today: Bearish
AUDUSD breaks the support – Analysis - 24-04-2018
The AUDUSD pair succeeded to confirm breaking 0.7650 level to decline clearly, on its way towards our next target at 0.7500, to keep the bearish trend scenario valid efficiently in the upcoming period, supported by the negative pressure provided by the EMA50.
The price might show some bullish bias to retest 0.7650 level before resuming the expected decline, affected by stochastic positivity, noting that breaching the mentioned level will stop the suggested bearish trend and push the price to recover again.
Expected trading range for today is between 0.7500 support and 0.7670
Expected trend for today: Bearish
Brent oil resumes rising – Analysis - 24-04-2018
Brent oil price rallied upwards strongly yesterday after leaning on 73.58 level, to keep the bullish trend scenario valid efficiently for the upcoming period, waiting to head towards the main bullish channel’s resistance at 77.45.
The EMA50 keeps supporting the suggested bullish wave, which its continuation conditions holding above 73.58.
Expected trading range for today is between 74.00 support and 77.45 resistance.
Expected trend for today: Bullish