NZD/USD mid-day update - 02-08-2023
The NZD/USD pair declined in daily trading, amid the dominance of the downward short-term trend, with negative pressure from the 50-day SMA, piercing the upward trend line in the daily frame which we alluded to in the morning analysis, with the pair exposed to negative pressure, in turn erasing all positive paths.
Therefore we expect the pair to decline in upcoming trading, targeting the support of 0.6050, provided it settles below 0.6122.
Expected trading range for today is between the 0.6090 support and the 0.6180 resistance.
Expected trend for today: Bearish
USD/CFH mid-day update - 02-08-2023
The USD/CHF pair extended the gains in early trading today, buoyed by trading alongside the upward trend line in the intraday levels, while also trading above the 50-candle SMA, however it's a cautious increase as the pair attempts to correct the main downward trend in the daily frame.
Therefore we expect the pair to return higher in the intraday levels, targeting the support of 0.8700, with a big chance of more gains, targeting the pivotal resistance of 0.8830 before the negative correction.
Expected trading range for today is between the 0.8700 support and the 0.8800 resistance.
Expected trend for today: Likely Bearish
ASML gives in to negative pressure - Analysis - 02-08-2023
ASML Holding's stock (ASML) fell in the intraday levels, after retesting the main upward trend line that was breached previously, while touching the resistance of the 50-day SMA, giving in to negative pressure, after taking support from positive signals from the RSI, marking a final loss of 1.07% in the last session, or 7.70 points, and settling at 708.71.
Therefore we expect more losses for the stock, targeting the support of 643.40, provided it settles back below 698.60.
Expected trend for today: Bearish
Walmart driven lower by pivotal resistance - Analysis - 02-08-2023
Walmart's stock (WMT) fell in the intraday levels after the pivotal resistance of 160.77 held on, while gathering momentum to pierce that resistance, as the stock also vented off overbought saturation in the RSI, with negative signals out of them, marking a loss of 0.47% in the last session, or 75 cents, and settling at 159.11, amid the dominance of the upward trend in the medium term, with positive support from the 50-day SMA.
Therefore we expect the stock to return higher, targeting the first resistance at 167.00, provided the resistance of 160.77 was breached.
Expected trend for today: Bullish