The EURUSD pair declined in its latest intraday trading, amid the continuation of the negative pressure due to its trading below EMA50, leaning on the support of bullish corrective channel’s support that limits its previous trading on the short-term basis, in a last attempt to gain the required bullish momentum for its recovery and rising again, especially with the emergence of the positive signals from the relative strength indicators, after reaching oversold levels.
Stellar (XLMUSD) advanced in recent intraday trading and is now preparing to test the key resistance level at $0.1930. The cryptocurrency continues to trade above its 50-period Simple Moving Average (SMA), which is acting as dynamic support and reinforcing the stability of the short-term bullish corrective trend. Price action also continues to move alongside an ascending trendline that supports the current advance. Meanwhile, momentum indicators continue to generate bullish signals despite remaining in extremely overbought territory.
Therefore, our outlook remains bullish for the cryptocurrency's upcoming intraday trading sessions, particularly if it breaks above the key resistance level at $0.1930. Under this scenario, the price is expected to target the next major resistance level at $0.2125.
Today's price forecast: Bullish.
Micron Technology (MU) moved higher in recent intraday trading after successfully holding above the key support level at $818.70, allowing the stock to regain some positive momentum and recover part of its recent losses. The rebound has also helped relieve its clearly oversold conditions on momentum indicators, particularly as a bullish crossover has started to emerge. However, the stock remains under pressure after breaking a short-term ascending trendline, while continued trading below its 50-day Simple Moving Average (SMA) continues to weigh on price action and limits the prospects for a full recovery in the near term.
Therefore, our outlook remains bearish for the stock's upcoming trading sessions, particularly if it breaks below the key support level at $818.70. Under this scenario, the stock is expected to target its next support level at $663.25.
Today's price forecast: Bearish.
The Kroger Company (KR) moved lower in recent intraday trading as the stock remained under the control of the primary bearish trend, with price action continuing to track a short-term descending trendline that reinforces the prevailing downside bias. Selling pressure also persists as the stock continues to trade below its 50-day Simple Moving Average (SMA), adding to the negative technical outlook. However, momentum indicators have started generating fresh bullish signals after successfully easing their overbought conditions, suggesting that some positive momentum could emerge to limit losses and potentially trigger cautious short-term rebounds.
Therefore, our outlook remains bearish for the stock's upcoming trading sessions, as long as resistance at $61.25 remains intact. Under this scenario, the stock is expected to target the support level at $55.60.
Today's price forecast: Bearish.