The USDJPY begins new bearish correction – Analysis - 23-06-2022
The USDJPY pair begins today with clear negativity to break 135.60 and settles below it, to head towards achieving bearish correction on the intraday basis, targeting testing 134.30 mainly.
Note that the expected decline is temporary, waiting to resume the main bullish wave, taking into consideration that breaching 135.60 and holding above it again will stop the current negative pressure and push the price to recover.
The expected trading range for today is between 134.70 support and 136.00 resistance
The expected trend for today: Bearish
The GBPUSD keeps its positive stability - Analysis - 23-06-2022
The GBPUSD pair settles above 1.2205 level, to keep the bullish trend scenario active until now, waiting to get enough positive momentum to push the price to resume the positive trades and head towards our targets that start at 1.2320 and extend to 1.2490 after surpassing the previous level.
Note that breaking 1.2205 will stop the expected rise and press on the price to decline towards 1.2077 initially.
The expected trading range for today is between 1.2200 support and 1.2350 resistance.
The expected trend for today: Bullish
The EURUSD breaches the resistance – Analysis - 23-06-2022
The EURUSD pair returned to breach 1.0550 level and settles above it, which leads the price to return to the correctional bullish track again, paving the way to achieve gains that start at 1.0670.
Therefore, the bullish bias will be suggested for today, supported by moving above the EMA50, noting that breaking 1.0550 will stop the positive scenario and press on the price to decline.
The expected trading range for today is between 1.0500 support and 1.0650 resistance.
The expected trend for today: Bullish
Lennar rises alongside downward correctional trend line - Analysis - 22-06-2022
Lennar Corporation's stock (LEN) rose in the intraday levels as it recoups some recent losses, and vents off oversold saturation in the RSI, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, marking a profit of 1.58% in the last session, or 1.02 points, settling at 65.65, with trading volumes surpassing 5.6 million shares, above 10-day averages of 3.5 million shares.
The gains came after the home construction company reported forecast-beating results for the second quarter, however it expected slower demand on new homes after Fed's rate hike.
Therefore we expect the stock to return lower, targeting the support of 57.54, provided the resistance of 71.38 holds on.
Expected trend for today: Bearish