The GBPUSD pair tested the key support base 1.2077 and bounced upwards strongly from there, to keep the bullish trend scenario valid and active for the upcoming period, affected by the previously completed inverted head and shoulders’ pattern, organized inside the bullish channel that appears on the chart, noting that our next targets begin at 1.2285 and go further to 1.2490.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 1.2077 and holding below it.
The expected trading range for today is between 1.2100 support and 1.2290 resistance.
The expected trend for today: Bullish
The EURUSD pair trades positively to gradually approach our first waited target at 1.0278, and by taking a deeper look at the chart, we find that this level forms the confirmation line to positive pattern that has positive targets that surpass 1.0355 to reach 1.0450.
Therefore, we expect to witness more rise in the upcoming sessions supported by the EMA50 that carries the price from below, reminding you that the continuation of the bullish wave depends on the price stability above 1.0100.
The expected trading range for today is between 1.0170 support and 1.0320 resistance.
The expected trend for today: Bullish
Facebook's stock (META) fell in the intraday levels after reporting disappointing results, and lower third-quarter forecasts than expected by markets, with the company forecasting earnings of less than $28.5 billion in the third quarter, while analysts expected $30.7 billion, with Meta continuing to contest with surging TikTok, leading the stock down 5.22%, or 8.86 points, settling at 160.72, with trading volumes surpassing 73.2 million shares, above 10-day averages of 34 million shares.
The main downward trend dominates in the short term, with negative pressure from the 50-day SMA, with negative signals from the RSI, as the stock prepares to pierce the pivotal support of 156.00.
Therefore we expect more losses for the stock, targeting the support of 137.00, provided the support of 156.00 was breached.
Expected trend for today: Bearish
Ford Motor Co's stock (F) rose in the intraday levels after reporting a sales increase by 50% in the second quarter, with the stock surging 6.14%, or 81 cents, settling at 14.00, with trading volumes surpassing 144 million shares, above 10-day averages of 61.8 million shares.
The stock is buoyed by piercing the downward short-term trend line, buoyed by trading above the 50-day SMA, and tackling the resistance of 14.00, amid negative signals from the RSI after reaching overbought levels.
Therefore we expect more gains for the stock, targeting the resistance of 15.80, provided the resistance of 14.00 was breached.
Expected trend for today: Bullish