The GBPUSD pair’s decline stopped at the correctional bullish channel’s support line that appears on the chart, waiting to rebound bullishly to resume the bullish trend on the intraday basis, which its targets begin by breaching 1.2590 to open the way to head towards 1.2725 as a next positive station.
Therefore, we expect to witness positive trades in the upcoming sessions unless breaking 1.2420 and holding below it.
The expected trading range for today is between 1.2440 support and 1.2620 resistance.
The expected trend for today: Bullish
The EURUSD pair approached our waited extended target at 1.0770, showing some slight bearish bias now affected by stochastic negativity, waiting to get positive motive that assist to push the price to resume the positive trades to achieve the mentioned target.
In general, we will continue to suggest the bullish trend for the upcoming period unless breaking 1.0670 and holding below it, as breaking it will press on the price to attempt to return to the main bearish track again.
The expected trading range for today is between 1.0650 support and 1.0780 resistance.
The expected trend for today: Bullish
JPMorgan's stock (JPM) surged 6.19% in the last session, or 7.26 points, settling at 124.60, with trading volumes surpassing 24.3 million shares, above 10-day averages of 14.2 million shares.
The gains came after the company raised net income forecasts from loans by 12% for the 2022 financial year, to more than $56 billion, as the Fed is expected to hike rates to 3% by the end of the financial year.
Technically, the stock is gathering momentum after the support of 115.77 held on, amid attempts to recover some losses, testing the resistance of the downward correctional short-term trend line, amid negative pressure from the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect the stock to return lower, targeting the support of 115.77 anew, provided the resistance of 127.52 holds on.
Expected trend for today: Bearish
Zoom's stock (ZM) slid in the intraday levels, amid the dominance of the main downward short-term trend, with negative pressure from the 50-day SMA, as it vents off oversold saturation in the RSI, while giving up to negative pressure, marking a loss of 0.46% in the last session, or 41 cents, and settling at 89.33, with trading volumes surpassing 11.2 million shares, above 10-day averages of 5.8 million shares.
The stock rose after hours of official trading, as it reported profits of $3.70 per share, beating estimates of $3.45, while expecting even more profits this year than initial estimates.
Therefore we expect the stock to decline and target the support of 74.36, provided it settles below the resistance of 94.51.
Expected trend for today: Bearish