The EURUSD pair settles below 1.0800 level, noticing that stochastic begins to overlap negatively, waiting to motivate the price to resume the expected bearish wave on the intraday and short term basis, which its next main target located at 1.0700.
The EMA50 continues to support the expected decline, noting that holding below 1.0820 represents initial condition to continue the negative scenario.
The expected trading range for today is between 1.0700 support and 1.0850 resistance.
The expected trend for today: Bearish
Crude oil price suffered big losses and broke 104.60 level to settle below it, which stops the positive scenario and push the price to achieve more expected decline in the upcoming sessions, on its way to visit 98.95 mainly, noting that the bearish bias will remain dominant unless the price managed to breach 104.60 and hold above it.
Gold price touched our waited target at 1960.00 and presses negatively on it to move below it now, which urges caution from the upcoming trading, as closing the daily candlestick below it will put the price under additional negative pressure and head towards 1925.35 areas on the near term basis, while consolidating above it will lead the price to resume the main bullish trend again.
General Motors' stock (GM) rose 1.25% in the last session, buoyed by the support of 39.74, with positive signals from the RSI, with trading volumes amounting to 11.7 million shares, amid the dominance of the main downward trend in the short term, with negative pressure from the 50-day SMA.
Therefore we expect the stock to return lower, targeting the support of 35.50, provided the support of 39.74 was breached.
Expected trend for today: Bearish