Update: The USDJPY suffers strong losses
The USDJPY pair broke the bullish channel’s support line strongly to turn to decline and head towards expected visit to 133.30 areas, waiting for more expected bearish bias in the upcoming sessions, supported by the technical indicators’ current negativity, noting that breaching 135.35 is considered as the first positive key to attempt to return to the intraday bullish track again.
Update: The EURUSD achieves clear gains
The EURUSD pair rallied upwards to breach 1.0645 and attempts to hold above it, to head towards achieving more expected gains in the upcoming period, paving the way to visit 1.0745 as a next positive target, noting that holding above 1.0645 represents major condition to continue the expected rise.
Uber tumbles - Analysis - 10-03-2023
Uber Technologies' stock (UBER) skidded in the intraday levels after Bloomberg said the company is considering a shutdown of the Uber Freight business, sending the stock down 4.97% in the last session, or 1.69 points, and settling at 32.32, with trading volumes surpassing 27.6 million shares, above 10-day averages of 19 million shares.
The stock is seeking a bottom to boost it higher, while gathering positive momentum to climb anew, amid the dominance of the upward correctional short-term trend, with positive pressure from the 50-day SMA.
Therefore we expect the stock to return higher, targeting the resistance of 40.22, provided it settles above 33.36.
Expected trend for today: Bullish
General Motors exposed to negative pressure - Analysis - 10-03-2023
General Motors' stock (GM) fell in the intraday levels after announcing voluntary purchase program that might lead to severance packages worth $1.5 billion, sending the stock down 4.88% in the last session, or 1.94 points, and settling at 37.82, with trading volumes surpassing 15.6 million shares, above 10-day averages of 13.6 million shares.
Technically, the stock surpassed the 50-day SMA recently, while piercing the upward correctional trend line in the short term, doubling negative pressures amid negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the first support at 35.80, provided it settles below 38.60.
Expected trend for today: Bearish