The EURUSD draws positive pattern – Analysis - 02-12-2021
The EURUSD pair shows sideways trades since yesterday, keeping its stability below 1.1375, and by taking a deeper look at the chart, we find that the price draws inverted head and shoulders’ pattern that might assist to turn the trend to the upside and achieve gains that reach 1.1560 on the near term basis.
Therefore, we prefer to stay aside until we get a batter signal for the trend, noting that breaching 1.1375 will activate the positive effect of the mentioned pattern and lead the price to visit 1.1445 followed by 1.1560 levels mainly, while breaking 1.1260 will bring the price back to the bearish channel and resume the bearish track that its next main target located at 1.1145.
The expected trading range for today is between 1.1250 support and 1.1400 resistance.
The expected trend for today: Neutral
Caterpillar declines in volatile session - Analysis - 01-12-2021
Caterpillar's stock (CAT) tumbled 1.31% in the last volatile session, settling at 193.35, amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the pivotal support of 187.00, provided it settles below 200.00.
Expected trend for today: Bearish
City Group breaches pivotal support - Analysis - 01-12-2021
City Group's stock (C) tumbled 2.06% in the last session, breaching the pivotal support of 64.45, and settling at 63.70, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the first support at 61.90, provided it settles below 64.45.
Expected trend for today: Bearish
Bank of America tries to correct the main upward trend - Analysis - 01-12-2021
bank of America's stock (BAC) fell 2.46% in the last session amid negative signals from the RSI, trespassing the support of the 50-day SMA and exposing it to negative pressure, settling thereafter at 44.47, while correcting the main upward trend in the medium term, while trading alongside the main upward trend line.
Therefore we expect more losses for the stock, targeting the pivotal support of 43.45.
Expected trend for today: Bearish