The USDJPY achieves strong gains – Analysis - 07-06-2022
The USDJPY pair rallied upwards sharply yesterday to surpass our waited target at 131.35 and opens the way to achieve more gains on the longer term basis, as we suggest heading towards 133.50 followed by 134.40 areas as next main stations.
The EMA50 continues to support the suggested bullish wave, noting that breaking 131.35 will press on the price to start intraday bearish correction before turning back to rise again.
The expected trading range for today is between 132.00 support and 133.40 resistance
The expected trend for today: Bullish
The GBPUSD resumes the decline - Analysis - 07-06-2022
The GBPUSD pair resumes its negative trades to touch 1.2490 level again, waiting to surpass this level to confirm extending the bearish wave towards 1.2425, noting that we expect the continuation of the bearish trend domination to target 1.2330 areas on the near term basis.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 1.2590.
The expected trading range for today is between 1.2400 support and 1.2570 resistance.
The expected trend for today: Bearish
The EURUSD touches the first target – Analysis - 07-06-2022
The EURUSD pair bounced downwards strongly after approaching 1.0770 level yesterday, to touch 1.0670 level now and presses negatively on it, which supports the chances of continuing the expected bearish trend for the upcoming period, which its targets extend to 1.0600 followed by 1.0550.
Therefore, the bearish trend scenario will remain valid and active on the intraday basis unless the price rallied to breach 1.0770 and hold above it.
The expected trading range for today is between 1.0580 support and 1.0740 resistance.
The expected trend for today: Bearish
Coinbase amid negative outlook - Analysis - 06-06-2022
Coinbase Global's stock (COIN) fell in the last session after the crypto exchange company froze hiring for the foreseeable future amid bearish forecasts for the sector, with the stock tumbling 9.66%, or 7.13 points, settling at 66.69 points, with trading volumes surpassing 10.2 million shares, below 10-day averages of 13.1 million shares.
Technically, the stock is suffering pressure from trading below the 50-day SMA, amid the dominance of the main downward short-term trend, with negative pressure from the 50-day SMA.
Therefore we expect more losses for the stock, targeting the support of 31.79, provided the resistance of 108.55 holds on.
Expected trend for today: Bearish