#forextrendindicators

Bitcoin price (BTCUSD) faces negative pressure

The price of bitcoin (BTCUSD) is exhibiting negative trades as it approaches testing the EMA50, which forms intraday support at 62120.00$. Stochastic is also entering the oversold areas, and we are waiting to encourage the price to rise again to head towards testing 65483.00$ initially. As a reminder, breaking this level represents the key to head towards 70000.00$ as the next main target. Consequently, we will continue to suggest the bullish trend for the upcoming period, noting that the price will suffer more losses and test 60326.70$ as the next negative station. The expected trading range for today is between 61000.00$ support and 65500.00$ resistance.

Ethereum price (ETHUSD) gets a positive motive

       The price of Ethereum (ETHUSD) tested the 3641.82$ level and then bullishly rebounded, continuing the anticipated short- and intraday-term bullish trend. The next main stations are set at 3900.00$ and 4096.85$ levels, respectively.

Stochastic overlaps positively to support the likelihood that the market will rise further in the next sessions, serving as a helpful reminder that breaking above $3641.82$ is necessary to reach the recommended goals.

The coffee price achieves the initial target

       By gaining additional positive momentum and maintaining stability above the moving average of 55 at 195.60, the coffee price was able to form a strong bullish rally and reach its primary target of 218.90.

Should the primary indicators continue to offer positive momentum, there is a greater likelihood of clearing the present barrier and opening up new territory that could initially reach 222.60 before hitting the bullish channel's resistance around 229.00.

 Brent oil price forecast update

          The price of Brent oil is circling the EMA50, which provides strong resistance to the price. In order to maintain the bullish bias recommended for today, the price must surpass this level to confirm that the bullish wave is continuing towards $84.77).

However, we should be aware that a break below 82.40$ will halt the recommended rise, forcing the price to resume the bearish correction wave and move toward the next negative target of 80.08$.

Silver price tests the key resistance

       The bullish channel's broken support, now a crucial resistance line at $27.45, has been tested by the silver price. In the upcoming sessions, a breach of this level would indicate the continuation of the bullish trend dominance and confirm the return to the channel.

As a result, the intraday bullish trend scenario is recommended, with the next major target situated at 28.00$. Breaking $26.90$, on the other hand, will stop the anticipated increase and return correctional bearish pressure to the price.

The NZDUSD price attempts positively

         The NZDUSD price is moving away from the 0.5915$ level with a calm bullish bias, which supports the notion that the bullish trend will continue and that we can reach our long-awaited target of 0.6000$.

The bullish trend is expected to continue unless it breaks and holds below the 0.5915$ mark, in which case moving above the EMA50 would be supportive.

Natural gas price still confined

 The price of natural gas has not changed as of yet, continuing to oscillate between the lines of the sideways track, which are symbolized by the 2.000$ resistance and the 1.540$ support. This prevents attempts to resume the downward trend.

As a result, we will stay neutral and keep an eye on the price action until it breaks through one of the key levels. Breaking through at 2.000$ will enable the price to cover its losses and create powerful bullish waves that will take it to 2.180$ and eventually the main target at 2.500$. Crawling below the aforementioned support, however, will force it to incur significant losses that may initially extend to 1.220$ and 1.000$.

The NZDUSD price confirms the break 

       It is now possible to continue the intraday decline and target 0.6000 as the next negative station, as the NZDUSD price finished yesterday with a definite negative trend, confirming the breaking of 0.6070.

Since the EMA50 has created negative pressure, the bearish trend is expected to continue dominating the upcoming sessions. It should be noted, however, that a breach of 0.6070 will end the current negative pressure and cause the price to begin attempting a recovery, with 0.6140 as the initial target.