The GBPUSD hits the first extended target - Analysis - 22-09-2023
The GBPUSD pair traded with clear negativity yesterday to touch our first waited extended target at 1.2255, and returned to test the resistance line formed at 1.2310 after breaking it previously, noticing that stochastic loses its positive momentum clearly, waiting to assist to push the price to resume the main bearish trend, which its next target reaches 1.2200.
Therefore, we will continue to suggest the bearish trend for upcoming period conditioned by the price stability below 1.2310, noting that the EMA50 keeps supporting the bearish wave inside the bearish channel that appears on the chart.
The expected trading range for today is between 1.2190 support and 1.2350 resistance.
The expected trend for today: Bearish
The EURUSD gets negative signal - 22-09-2023
The EURUSD pair begins to provide negative trades now, noticing that stochastic loses the positive momentum clearly and approach to overlap negatively, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its targets begin by breaking 1.0635 to open the way to rally towards 1.0515.
Therefore, we are waiting for more expected decline on the intraday and short term basis, supported by the negative pressure formed by the EMA50, noting that breaching 1.0680 will stop the negative scenario and lead the price to start recovery attempts that target testing 1.0785 areas before any new attempt to decline.
The expected trading range for today is between 1.0550 support and 1.0700 resistance.
The expected trend for today: Bearish
IBM stalls - Analysis - 21-09-2023
International Business Machines Corporation's stock (IBM) fell in the intraday levels on profit-taking, while gathering momentum to rise anew, amid the dominance of the main upward short-term trend, with positive signals from the RSI, coupled with positive pressure from the 50-day SMA.
Therefore we expect the stock to rise and target the first resistance at 153.20, provided it settles above the support of 146.50.
Expected trend for today: Bullish
Goodyear shakes off negative pressure - Analysis - 21-09-2023
Goodyear Tire & Rubber Company's stock (GT) rose in the intraday levels while trading alongside the main upward trend line in the medium term, with positive signals from the RSI, managing to shake off negative pressure from the 50-day SMA.
Therefore we expect more gains for the stock, targeting the resistance of 13.90, provided the support of 12.00 holds on.
Expected trend for today: Bullish