The GBPUSD pair provided clear negative trades yesterday to approach 1.2100 barrier, reinforcing the expectations of continuing the bearish trend, which targets 1.2077 mainly, noting that breaking this level will push the price to 1.1933 as a next negative station.
The EMA50 supports the expected decline, taking into consideration that breaching 1.2225 will stop the current negative pressure and lead the price to start new recovery attempts.
The expected trading range for today is between 1.2040 support and 1.2200 resistance.
The expected trend for today: Bearish
The EURUSD pair declined strongly yesterday to succeed achieving our first waited target at 1.0440, showing some slight bullish bias affected by stochastic positivity, while the EMA50 forms negative pressure against the price, to support the chance of continuing the bearish trend in the upcoming sessions, reminding you that our next target reaches 1.0355.
Therefore, we are waiting for more expected decline on the intraday basis unless the price rallied to breach 1.0550 and hold above it.
The expected trading range for today is between 1.0360 support and 1.0500 resistance.
The expected trend for today: Bearish
Nike's stock (NKE) skidded 6.99% in the last session, or 7.72 points, settling at 102.78, with trading volumes surpassing 31.3 million shares, above 10-day averages of 10.6 million shares, and trespassing the support of 104.69, amid the dominance of the downward short-term trend, with negative pressure from the 50-day SMA.
The company reported a decline in Chinese sales due to Covid 19 lockdowns, which impacted over 100 cities, with the stock becoming the worst performer on Dow Jones.
Therefore we expect more losses for the stock, targeting the support of 93.70, provided the support of 104.69 was breached.
Expected trend for today: Bearish
Las Vegas Sands Corp's stock (LVS) returned higher with a session-high at 36.31, before bouncing lower and paring the gains to 4.04%, or 1.34 points, with trading volumes surpassing 12.8 million shares, above 10-day averages of 8.2 million shares, while surpassing the resistance of the 50-day SMA, with positive signals from the RSI, as the stock is still dominated by the main downward medium-term trend.
The gains came as China relaxed Covid 19 quarantine requirements for travelers, which boosted travel shares.
Therefore we expect more gains for the stock, targeting the resistance of 41.85, provided it settles above 33.75.
Expected trend for today: Bullish