The GBPUSD attempts to consolidate positively - Analysis - 01-02-2023
The GBPUSD pair shows weak trades after breaking 1.2320 level, as its still below it, while stochastic provides positive signals that might assist to push the price back to the bullish track again, to face contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend.
Note that breaking 1.2285 will push the price to achieve more decline and head towards 1.2155 followed by 1.1940 levels as next negative targets, while breaching 1.2320 represents the key to return to the bullish trend and head to visit 1.2440 initially.
The expected trading range for today is between 1.2210 support and 1.2410 resistance.
The expected trend for today: Neutral
The EURUSD is recovering - 01-02-2023
The EURUSD pair’s decline stopped near 1.0800 barrier, to rebound bullishly and resume the main bullish track, as it attempts to surpass the EMA50 now, waiting for more rise to head towards 1.1030 as a next main target.
Therefore, we expect to witness positive trades in the upcoming sessions, noting that breaking 1.0800 is required to continue the suggested rise.
The expected trading range for today is between 1.0800 support and 1.0960 resistance.
The expected trend for today: Bullish
Update: Gold price resumes the rise
Gold price bounced bullishly after leaning on the bullish channel’s support line, to head towards achieving expected gains in the upcoming sessions, and breaching 1928.60 will support the chances of continuing the rise towards 1950.00 as a next positive target, noting that the continuation of the current rise requires holding above 1909.00.
Johnson & Johnson in a free fall - Analysis - 31-01-2023
Johnson & Johnson's stock (JNJ) skidded in the intraday levels after the Wall Street Journal said the US Appeals Court refused its consumer products suit, sending its stock down 3.70% in the last session, or 6.23 points, settling at 162.00, with trading volumes surpassing 23.2 million shares, above 10-day averages of 9 million shares.
Technically, the stock suffers from the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, countered with positive signals from the RSI after reaching oversold levels.
Therefore we expect more losses for the stock, targeting the first support at 159.18, provided it settles below 167.70.
Expected trend for today: Bearish