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The USDJPY attempts to recover – Analysis - 03-08-2022
The USDJPY pair rallied upwards strongly yesterday to breach 131.55 and reach 133.05, noticing that the price begins today with clear negativity, affected by stochastic negativity, besides the negative pressure formed by the EMA50, which encourages us to suggest the bearish bias in the upcoming sessions, waiting to test 131.55 initially.
Consolidating below 133.05 is required to reinforce the expectations to decline, as failing to hold below it will lead the price to achieve new gains and head towards 134.50 as a next positive station.
The expected trading range for today is between 132.30 support and 133.70 resistance
The expected trend for today: Bearish
The GBPUSD achieves the temporary decline - Analysis - 03-08-2022
The GBPUSD pair approached the bullish channel’s support line that appears on the chart, and begins to curve upwards now, to resume the bullish wave within the mentioned channel and head to achieve gains that start at 1.2340 and extend to 1.2490 on the near term basis.
MoreThe EURUSD faces negative pressure – Analysis - 03-08-2022
The EURUSD pair continued to decline to break 1.0200 level and settles below it, noticing that stochastic got rid of its positive momentum and begins to overlap positively now, waiting to motivate the price to resume the positive trades and head to test 1.0278 initially, reminding you that breaching this level will extend the bullish wave to reach 1.0355 followed by 1.0450 levels.
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Alibaba's stock (BABA) rose amid attempts to recoup some recent losses while venting off oversold saturation in the RSI, marking a profit of 1.09%, or 97 cents, and settling at 90.34, with trading volumes surpassing 36 million shares, above 10-day averages of 27 million shares, amid the dominance of the main downward trend in the medium term, with negative pressure from the 50-day SMA.
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