Midday update for Gold 04-08-2022
Gold price managed to breach 1779.25 level and attempts to hold above it, which supports the continuation of the expected bullish trend scenario for the upcoming period efficiently, opening the way to head towards our next positive target at 1802.80, noting that holding above 1779.25 represents the first condition to continue the suggested rise.
The expected trading range for today is between 1755.00 support and 1790.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 04-08-2022
The GBPUSD pair trades with strong negativity to break the bullish channel’s support line and attacks 1.2077, which urges caution from the upcoming trading, as continuing the negative pressure and breaking the mentioned level will stop the recently suggested positive scenario and push the price back to the main bearish track again, while the price needs to step above 1.2155 to confirm resuming the bullish wave that its next target located at 1.2360.
The expected trading range for today is between 1.2040 support and 1.2200 resistance.
The expected trend for today: Bullish
Midday update for the EURUSD 04-08-2022
The EURUSD pair continues to fluctuate near 1.0200 level without managing to breach it, and as long as the price is above 1.0100, our bullish overview will remain valid for today, waiting to get strong positive motive that assist to push the price to breach the mentioned level and rally towards 1.0278 followed by 1.0355 as next main targets.
The expected trading range for today is between 1.0100 support and 1.0260 resistance.
The expected trend for today: Bullish
Robinhood pierces current resistance - Analysis - 04-08-2022
Robinhood's stock (HOOD) rose after pledging to focus on retail investors, while announcing a cut of 23% in the workforce due to weak trading while reporting a larger loss than expected, at 34 cents per share, with active monthly users down to 14 million, with the stock surging 11.7%, or 1.08 points, settling at 10.31, with trading volumes surpassing 37.4 million shares, above 10-day averages of 10.7 million shares.
The stock managed to pierce the resistance of 9.94, buoyed by trading above the 50-day SMA, with positive signals from the RSI.
Therefore we expect more gains for the stock, targeting the first resistance at 12.50, provided it settles above 9.94.
Expected trend for today: Bullish