The USDJPY hits the target – Analysis - 11-02-2022
The USDJPY pair rallied upwards strongly yesterday to succeed achieving our waited target at 116.35 and settled near it, and we suggest surpassing this level and open the way to continue the rise on the short term and medium term basis, to head towards 117.00 as a next station.
Therefore, the bullish trend will remain valid and active for the upcoming period conditioned by the price stability above 115.65.
The expected trading range for today is between 115.60 support and 116.70 resistance
The expected trend for today: Bullish
The GBPUSD touches the first target - Analysis - 11-02-2022
The GBPUSD pair achieve our first waited positive target at 1.3610 and bounced downwards strongly from there, to start pressing on 1.3525 level, which hints heading to return to the correctional bearish track after failing to surpass 1.3610 level in the second attempt.
Therefore, the bearish bias will be suggested in the upcoming sessions unless the price rallied to breach 1.3610 and hold above it, noting that our first negative target is located at 1.3460.
The expected trading range for today is between 1.3440 support and 1.3600 resistance.
The expected trend for today: Bearish
The EURUSD tests the support – Analysis - 11-02-2022
The EURUSD pair begins today with clear negativity to press on the key support 1.1375, affected by stochastic negativity, which urges caution from the upcoming trading, as breaking this level represents negative factor that will stop the recently suggested rise and press on the price to return to the main bearish track again, targeting 1.1150 level mainly.
Therefore, we prefer to stay aside temporarily until the price confirms its situation according to 1.1375 level, noting that consolidating above it will lead the price to resume the bullish trend that its next target located at 1.1560.
The expected trading range for today is between 1.1290 support and 1.1470 resistance.
The expected trend for today: Neutral
3M tries to vent off oversold saturation - Analysis - 10-02-2022
3M's stock rose 0.76% in the last session, settling at 163.64, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-dayu SMA, while trying to recoup past losses and vent off oversold saturation in in the RSI.
Therefore we expect the stock to return lower, targeting the support of 156.30, provided the resistance of 169.00 holds on.
Expected trend for today: Bearish