The EURUSD builds positive formation – Analysis - 01-08-2022
The EURUSD pair trades positively to gradually approach our first waited target at 1.0278, and by taking a deeper look at the chart, we find that this level forms the confirmation line to positive pattern that has positive targets that surpass 1.0355 to reach 1.0450.
Therefore, we expect to witness more rise in the upcoming sessions supported by the EMA50 that carries the price from below, reminding you that the continuation of the bullish wave depends on the price stability above 1.0100.
The expected trading range for today is between 1.0170 support and 1.0320 resistance.
The expected trend for today: Bullish
Facebook readies to pierce pivotal support - Analysis - 29-07-2022
Facebook's stock (META) fell in the intraday levels after reporting disappointing results, and lower third-quarter forecasts than expected by markets, with the company forecasting earnings of less than $28.5 billion in the third quarter, while analysts expected $30.7 billion, with Meta continuing to contest with surging TikTok, leading the stock down 5.22%, or 8.86 points, settling at 160.72, with trading volumes surpassing 73.2 million shares, above 10-day averages of 34 million shares.
The main downward trend dominates in the short term, with negative pressure from the 50-day SMA, with negative signals from the RSI, as the stock prepares to pierce the pivotal support of 156.00.
Therefore we expect more losses for the stock, targeting the support of 137.00, provided the support of 156.00 was breached.
Expected trend for today: Bearish
Ford attacks current resistance - Analysis - 29-07-2022
Ford Motor Co's stock (F) rose in the intraday levels after reporting a sales increase by 50% in the second quarter, with the stock surging 6.14%, or 81 cents, settling at 14.00, with trading volumes surpassing 144 million shares, above 10-day averages of 61.8 million shares.
The stock is buoyed by piercing the downward short-term trend line, buoyed by trading above the 50-day SMA, and tackling the resistance of 14.00, amid negative signals from the RSI after reaching overbought levels.
Therefore we expect more gains for the stock, targeting the resistance of 15.80, provided the resistance of 14.00 was breached.
Expected trend for today: Bullish
Qualcomm seeks bottom to boost it higher - Analysis - 29-07-2022
Qualcomm's stock (QCOM) fell in the intraday levels after reporting a profit of $2.96 per share in the second quarter, on sales of $10.93 billion, passing estimates of $10.88 billion, however future forecasts were disappointing, marking a loss of 4.54%, or 6.97 points, and settling at 146.45, with trading volumes surpassing 17 million shares, above 10-day averages of 9.3 million shares.
The stock is seeking a bottom to bolster it higher anew while venting off overbought saturation in the RSI, as the stock is buoyed by exiting a descending price channel that guided recent short-term trading, with positive support from the 50-day SMA.
Therefore we expect the stock to return higher, targeting the resistance of 153.30, provided the support of 138.85 holds on.
Expected trend for today: Bullish