The GBPUSD rallies bullishly - Analysis - 20-05-2022
The GBPUSD pair traded with strong positivity in the previous sessions to breach 1.2420 and reactivate the correctional bullish scenario again, to head towards achieving new gains that start by testing 1.2590 areas.
Therefore, we expect to witness additional positive trades in the upcoming sessions, noting that breaking 1.2420 will put the price under the negative pressure again, to head towards resuming the main bearish wave that its next target located at 1.2300.
The expected trading range for today is between 1.2380 support and 1.2540 resistance.
The expected trend for today: Bullish
The EURUSD attempts to recover – Analysis - 20-05-2022
The EURUSD pair rallied upwards strongly yesterday to breach 1.0550 level and settles above it, to head towards achieving more bullish correction on the intraday basis, on its way to visit 1.0670 that represents 38.2% Fibonacci correction level for the decline that started from 1.1185 areas.
Therefore, the bullish bias will be suggested for today, noting that breaking 1.0550 and holding below it will stop the positive scenario and press on the price to decline again.
The expected trading range for today is between 1.0490 support and 1.0650 resistance.
The expected trend for today: Bullish
Target loses a quarter of value - Analysis - 19-05-2022
Target's stock (TGT) skidded 24.93 in the last session, or 53.67 points, settling at 161.61, with trading volumes nearing 51 million shares, above 10-day averages of 8.7 million shares, after quarterly profits fell to $2.19 per share from $3.69 last year, while analysts expected $3.06, with CEO Brian Cornell saying that unexpectedly high costs in the first quarter tanked profits.
The stock is suffering from ongoing negative pressure from the 50-day SMA, forcing it to pierce the main upward medium-term trend line, with positive signals from the RSI after reaching oversold levels.
Therefore we expect more losses for the stock, targeting the first support at 143.69, provided the resistance of 184.00 holds on.
Expected trend for today: Bearish
Lowe's Companies dominated by downward correctional trend - Analysis - 19-05-2022
Lowe's Companies' stock (LOW) fell in the intraday levels, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, surpassing the pivotal support of 184.46, marking a loss of 5.26% in the last session, or 10.21 points, and settling at 183.82, with trading volumes surpassing 7.8 million shares, above 10-day averages of 4.8 million shares.
The losses came after reporting forecast-beating quarterly profits of $3.51 per share, up from $3.21 last year, beating estimates of $3.23, while sales reached $23.66 billion, down from $24.42 billion last year.
Therefore we expect more losses for the stock, targeting the support of 170.50, provided the pivotal support of 184.46 was reliably breached.
Expected trend for today: Bearish