The USDJPY achieves some bearish correction – Analysis - 16-06-2022
The USDJPY pair faced negative pressure yesterday to break the bullish channel’s support line and achieve some bearish correction, as it touched 23.6% Fibonacci correction level for the rise measured from 126.67 to 135.58 and bounced bullishly from there, to hint heading to regain the main bullish trend again, waiting to surpass 135.00 to confirm the continuation of the main bullish wave.
Therefore, we expect to witness positive trades in the upcoming sessions, and the next main target reaches 136.00, noting that breaking 133.50 will force the price to achieve more bearish correction that its next target located at 132.20.
The expected trading range for today is between 133.80 support and 135.30 resistance
The expected trend for today: Bullish
The GBPUSD draws positive pattern - Analysis - 16-06-2022
The GBPUSD pair provided strong positive trades yesterday to breach 1.2150 level and settles above it, to hint the attempt to recover and start correctional bullish wave, especially that the price forms positive pattern that its signs appear on the chart.
On the other hand, the price faces negative pressure provided by the technical indicators, which might force the price to resume the main bearish trend again.
Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that breaching 1.2205 will lead the price to achieve additional gains that start at 1.2325 and extend to 1.2400, while breaking 1.2075 support will press on the price to decline again and head towards 1.1900 mainly.
The expected trading range for today is between 1.2070 support and 1.2250 resistance.
The expected trend for today: Depends on the above mentioned levels
The EURUSD shows mixed trades – Analysis - 16-06-2022
The EURUSD pair’s rise stopped at 1.0500 barrier, to rebound downwards strongly and reach 1.0355 level, and we expect to witness additional negative trades in the upcoming sessions, targeting testing the last level again, noting that breaking it will extend the bearish wave to reach 1.0250.
Therefore, the bearish bias will be suggested for today conditioned by the price stability below 1.0490.
The expected trading range for today is between 1.0355 support and 1.0510 resistance.
The expected trend for today: Bearish
Oracle attacks descending price channel's ceiling - Analysis - 15-06-2022
Oracle's stock (ORCL) surged after reporting strong fourth financial quarter results, even as upcoming quarter's profits estimates were less than Wall Street expectations, with the company reporting a net income of $1.54 per share, same as last year, with total earnings mounting to $11.84 billion, up from $11.23 billion last year.
The stock is tackling the ceiling of that descending price channel that guided recent short-term trading, with positive signals from the RSI, after reaching oversold levels, while suffering negative pressure from the 50-day SMA.
Therefore we stand neutral until the stock moves on the pivotal resistance of 70.23, targeting thereafter the resistance of 84.35
Oracle Corporation provides data, devices, and cloud services for many companies worldwide in a variety of fields such as finance, healthcare, and retail.
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Expected trend for today: Bullish