The USDJPY hits the extended targets – Analysis - 15-06-2022
The USDJPY pair resumed the bullish rally to succeed achieving our extended target at 135.50, showing temporary decline to test the bullish channel’s support line, waiting to resume the positive trades to achieve additional gains that reach 136.00.
Therefore, the bullish trend scenario will remain active for the upcoming period, noting that breaking 134.30 will press on the price to achieve some bearish correction before turning back to rise again.
The expected trading range for today is between 134.50 support and 135.90 resistance
The expected trend for today: Bullish
The GBPUSD keeps declining - Analysis - 15-06-2022
The GBPUSD pair suffered additional losses yesterday to succeed achieving our extended target at 1.2000, and attempted to break it to reach 1.1930 areas, but it recovers now and heads towards potential test to the resistance line formed around 1.2070, affected by stochastic positivity.
The EMA50 continues to press negatively on the price, to continue suggesting the bearish trend for the upcoming period unless the price rallied to breach 1.2070 followed by 1.2150 levels and holding above them, noting that our next target reaches 1.1900.
The expected trading range for today is between 1.1930 support and 1.2100 resistance.
The expected trend for today: Bearish
The EURUSD within negative pattern – Analysis - 15-06-2022
The EURUSD pair’s recent trades are confined within descending triangle pattern that appears on the chart, thus, the price needs to break 1.0400 to get negative motive that assist to rally towards our next negative target at 1.0354.
Therefore, our bearish overview will remain valid and active for the upcoming period supported by the EMA50 that continues to press negatively on the price, noting that breaching 1.0465 will push the price to test 1.0550 before any new attempt to decline.
The expected trading range for today is between 1.0355 support and 1.0500 resistance.
The expected trend for today: Bearish
Spotify suffers from negative pressures - Analysis - 14-06-2022
Spotify's stock (SPOT) declined in the intraday levels after announcing plans to acquire AI platform Sonantic, with the stock sliding 3.54%, or 3.62 points, settling at 98.61, with trading volumes matching 10-day averages at 2.4 million shares.
The main downward trend continues to dominate in the medium and short terms, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the pivotal support of 89.00, provided the resistance of 118.20 held on.
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Expected trend for today: Bearish