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The EURUSD surpasses the first target - 29-03-2023

Economies.com
2023-03-29 02:32AM UTC

The EURUSD pair managed to surpass 1.0820 level and hold above it, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, opening the way to continue the rise and achieve additional gains that reach 1.1032.

 

The EMA50 continues to carry the price from below, to support the suggested positive scenario, waiting to get positive momentum that assists to continue the bullish wave.

 

On the other hand, we should note that breaking 1.0805 will stop the current rise and press on the price to test the key support base 1.0745 before any new positive attempt.

 

The expected trading range for today is between 1.0770 support and 1.0935 resistance.

 

The expected trend for today: Bullish

BioNTech declines in a volatile session - Analysis - 28-03-2023

Economies.com
2023-03-28 12:35PM UTC

BioNTech SE's stock (BNTX) declined in the intraday levels after the vaccine manufacturer announced profits and sales beyond expectations, but estimated only 5 billion euros of  Covid 19 vaccine returns this year, down from 17.2 billion euros in 2022, with the stock down 3.59% in the last session, or 4.60 points, settling at 123.60, with trading volumes surpassing 1.7 million shares, above 10-day averages of 707 thousand shares. 

 

Technically, the downward trend dominates in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels. 

 

Therefore we expect more losses for the stock, targeting the pivotal support of 118.30, provided the resistance of 138.30 holds on.

 

Expected trend for today: Bearish

Carnival gives in to negative pressures - Analysis - 28-03-2023

Economies.com
2023-03-28 12:34PM UTC

Carnival Corporation's stock (CCL) skidded in the intraday levels after the maritime cruise company reported forecast-beating results for the first quarter of the financial year with record reservation, but presented bearish outlook for the second quarter, sending the stock down 4.77% in the last session, or 44 cents, and settling at 8.79, with trading volumes surpassing 93.5 million shares, above 10-day averages of 53.7 million shares.

 

Technically, the stock is pressured by retesting the upward correctional trend line that was pierced earlier in the short term, with negative pressure from the 50-day SMA, while the RSI reached overbought levels compared to the stock's movements. 

 

Therefore we expect more losses for the stock, targeting the first support at 8.37, provided the resistance of 9.56 holds on.

 

Expected trend for today: Bearish

Nucor tries to vent off oversold saturation - Analysis - 28-03-2023

Economies.com
2023-03-28 12:33PM UTC

Nucor Corporation's stock (NUE) advanced in the intraday levels while trying to vent off oversold saturation in the RSI amid positive signals out of them, marking a profit of 0.44% in the last session, or 65 cents, and settling at 149.30, while hurt by piercing the upward trend line recently in the short term, with negative pressure from the 50-day SMA. 

 

Therefore we expect the stock to return lower, targeting the support of 129.82, provided the resistance of 154.90 holds on.

 

Expected trend for today: Bearish