|
The GBPUSD faces temporary negative pressure - Analysis - 02-05-2023
The GBPUSD pair traded with clear negativity yesterday, as it broke 1.2550 to reach 1.2500 barrier, noticing that the price leaned on minor bullish channel’s support line and begins to attempt to rise again.
Stochastic got rid of its negative momentum to reach the oversold areas, and the EMA50 meets the bullish channels’ support lines that appear on the chart, thus, we expect to witness positive trades in the upcoming sessions, waiting to visit 1.2615 as a next main target.
On the other hand, we should note that breaking 1.2485 followed by 1.2465 levels will stop the expected rise and press on the price to achieve bearish correction on the intraday basis.
The expected trading range for today is between 1.2450 support and 1.2600 resistance.
The expected trend for today: Bullish
Thanks for your feedback.
The EURUSD approaches the negative target - 02-05-2023
The EURUSD pair bounced downwards strongly after retesting the broken support of the bullish channel that appears on the chart, to approach the waited negative target at 1.0945, showing some bullish bias by today’s open, affected by stochastic positivity, while the EMA50 forms good intraday resistance now, to keep the chances valid to continue the bearish bias and head to test the mentioned level.
MoreSchlumberger tries to vent off oversold saturation - Analysis - 01-04-2023
Schlumberger's stock (SLB) rose in the intraday levels while venting off oversold saturation in the RSI with positive signals out of them, marking a profit of 2.90% in the last session, or 1.39 points, and settling at 49.35, with trading volumes surpassing 8.6 million shares, below 10-day averages of 9 million shares, amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA.
MoreAmazon declines alongside the upward correctional trend line - Analysis - 01-05-2023
Amazon's stock (AMZN) fell in the intraday levels despite strong quarterly results, however the company expects a slowdown in growth of the cloud computing services, with the stock spiking 3.98% in the last session, or 4.37 points, the worst one-day loss since early February, and settling at 105.45, with trading volumes surpassing 130.7 million shares, above 10-day averages of 77 million shares.
More