EURUSD confirms the breach – Analysis - 03-08-2016

CITIGROUP shares ended Monday’s trading lower by (-0.39 point) or (-0.89%) of the previous closure, after rebounding from 38.30 support to reach 44.44 resistance, which the price reached during the previous trades after it was able to escape 43.55 level.

Bank of America shares ended the trades on Monday lower by (-0.11 point) or (-1.1%) from the previous closure to pass 14.41 level that coincided with 38.2% correction level for the bearish wave from 17.28 to 10.99, comes after a bullish rebound that passed the level 13.40 passing SMAs 50 and 100.

GENERALMTRS shares ended Monday’s trading lower by (-0.24 point) or (-0.76%) of the previous closure, where the price previously opened the trades around 30.20 support level that coincided with the support of SMAs 50 and 100, comes after the price was able to avoid 32.35 resistance up from 30.20 level as a confirmation for breaking the bearish pace after passing 29.10 level with the bearish channel top board with SMA 100, after the previous decline that pushed the price to try passing the channel’s support shown above, comes after it rose approaching the resistance barrier of 30.20 that coincided with the SMAs 50 and 100 , comes after it rose during the previous short trades to pass 29.10 resistance, which showed the price movement within a bearish channel the price is approaching its top board now, comes after the price retested the resistance level 33.00 and to fall retesting 30.20 support level which coincided with retesting the channel’s support shown above, to succeed passing this board using the pressure of the SMA 50 and 100 then.