The GBPUSD begins bullish correction - Analysis - 17-05-2022
The GBPUSD pair breached the bearish channel’s resistance and settled above it, to start bullish correction for the decline that started from 1.3300 areas, targeting testing 1.2423 level initially.
Therefore, the bullish bias will be suggested for today, and breaching 1.2330 will ease the mission of achieving the mentioned target, while the expected rise will remain valid unless breaking 1.2250 and holding below it.
The expected trading range for today is between 1.2250 support and 1.2420 resistance.
The expected trend for today: Bullish
The EURUSD attempts to recover – Analysis - 17-05-2022
The EURUSD pair shows attempts to breach 1.0435 level but it faces solid resistance there, supported by stochastic negativity, to remain stuck between the trend keys represented by the mentioned resistance and 1.0405 support, waiting to surpass one of them to detect the next targets clearly.
We remind you that breaching the mentioned resistance will lead the price to achieve additional gains that reach 1.0490 and might extend to 1.0525, while breaking the support will put the price under the negative pressure again, to resume the main bearish trend that its next main target located at 1.0250.
The expected trading range for today is between 1.0350 support and 1.0510 resistance.
The expected trend for today: Neutral
Robinhood trespasses resistance of downward trend line - Analysis - 16-05-2022
Robinhood Markets' stock (HOOD) rose in the intraday levels, marking a profit of 24.88%, or 2.13 points, and settling at 10.69, with trading volumes surpassing 48.5 million shares, above 10-day averages of 26.2 million shares, after reports that CEO of FTX Trading, Sam Bankman-Fried, acquired 7.6% of Robinhood's shares.
Many companies starting taking strict measures to contain inflationary pressures, with Robinhood deciding to let go of 9% of its workforce to improve operational efficiency.
Technically, the stock managed to trespass the downward short-term trend line, with positive signals from the RSI, after reaching oversold levels, hinting at positive divergence, with the stock touching the resistance of the 50-day SMA.
Therefore we expect the stock to rise and target the resistance of 16.49, provided it holds above the pivotal support of 9.94.
Expected trend for today: Bullish
Affirm faces strong resistance - Analysis - 16-05-2022
Affirm's stock (AFRM) rose after the group[ raised its 2022 earnings forecasts from $1.31 billion to nearly $1.33 billion, while marking a profit of 31.43%, or 5.67 points, settling at 23.71, with trading volumes surpassing 85 million shares, above 10-day averages of 24 million shares.
Technically, the stock is recouping some past losses, while venting off oversold saturation from the RSI with positive signals out of them, with the stock testing the resistance of the downward short-term trend line, with negative pressure from the 50-day SMA.
Therefore we expect the stock to return lower, targeting the support of 10.50, provided the resistance of 26.00 holds on.
Expected trend for today: Bearish