The GBPUSD tests the support again - Analysis - 04-08-2022
The GBPUSD pair faced new negative pressure to test the bullish channel’s support line, and the EMA50 meets this support to protect the continuation of the bullish wave, while stochastic continues to provide the positive signals.
Therefore, we believe that the chances valid to resume the expected bullish trend for the upcoming period, which targets 1.2360 areas as a next main station, noting that the continuation of the bullish wave requires holding above 1.2130 and 1.2077 levels.
The expected trading range for today is between 1.2090 support and 1.2260 resistance.
The expected trend for today: Bullish
The EURUSD faces solid resistance – Analysis - 04-08-2022
The EURUSD pair finds difficulty to breach 1.0200 level, to show new negative trades yesterday and approaches 1.0100 level, noticing that the price rises again in attempt to breach 1.0200 level, reminding you that breaching this level is required to reinforce the continuation of the bullish trend scenario that its next targets located at 1.0278 followed by 1.0355.
Until now, we continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 1.0100, as breaking it will press on the price to resume the main bearish trend within the bearish channel that appears on the chart.
The expected trading range for today is between 1.0100 support and 1.0260 resistance.
The expected trend for today: Bullish
Caterpillar gives in to negative pressure - Analysis - 03-08-2022
Caterpillar's stock (CAT) skidded after reporting a profit of 3.18 per share, passing estimates of $3.03, on sales of $14.2 billion, passing estimates of $14 billion, with the stock nonetheless sliding 5.82%, or 11.35 points, and settling at 183.51, with trading volumes surpassing 8 million shares, above 10-day averages of 3 million shares.
The stock declined after facing resistance from the 50-day SMA, while the RSI reached overbought levels, doubling pressures on the stock, amid the dominance of the main downward medium-term trend, with negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the support of 169.30, provided the resistance of 199.50 holds on.
Expected trend for today: Bearish
Uber surges - Analysis - 03-08-2022
Uber's stock rallied after reporting a loss in the second quarter, however earnings rose by double the forecasts, with positive net cash flow for the first time, sending the stock 18.90% higher, or 4.65 points, and settling at 29.25, with trading volumes surpassing 108 million shares, above 10-day averages of 34 million shares.
The stock was boosted after leaning on the support of the 50-day SMA, lending it positive momentum that helped it pierce the short-term downward trend line, with positive signals from the RSI.
Therefore we expect more gains for the stock, targeting the first resistance at 34.30, provided it holds above 26.70.
Expected trend for today: Bullish