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Alphabet price dominated by downward correctional wave - Forecast today - 06-08-2024

Economies.com
2024-08-06 12:11PM UTC

Alphabet’s stock price (GOOG) fell in the intraday levels, amid the dominance of the downward correctional trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after trying to vent off oversold saturation there, indicating the strength of the negative trend. 

 

Therefore we expect more losses for the stock, targeting the support of $142.00, provided the initial support of $155.00 is reliably breached.

 

Trend forecast: Bearish 

Ethereum price (ETHUSD) forecast update - 06-08-2024

Economies.com
2024-08-06 10:03AM UTC

Ethereum price (ETHUSD) shows some bearish bias now to hint heading to resume the bearish trend in the upcoming sessions, motivated by stochastic negativity that appears clearly now, waiting to head towards 2168.74$ as a first negative station, noting that breaching 2623.77$ will stop the expected decline and lead the price to turn to rise.

 

The expected trading range for today is between 2350.00$ support and 2620.00$ resistance.

 

Trend forecast: Overall bearish

Bitcoin price (BTCUSD) forecast update - 06-08-2024

Economies.com
2024-08-06 10:03AM UTC

Bitcoin price (BTCUSD) begins to rebound bearishly after reaching 56160.00$ areas in the previous sessions, accompanied by witnessing clear overbought signals through stochastic, to support our expectations to for the bearish trend for today, waiting to visit 51990.00$ initially, noting that breaking this level will push the price towards 49100.00$ as a next main target, reminding you that the continuation of the bearish wave requires holding below 56160.00$.

 

The expected trading range for today is between 50000.00$ support and 57500.00$ resistance.

 

Trend forecast: Bearish

The NZDUSD price forecast update 06-08-2024

Economies.com
2024-08-06 10:03AM UTC

The NZDUSD price shows negative trades to test the key support 0.5915$, which urges caution from the upcoming trading, as the price needs to hold above this level to keep the positive scenario active, which targets 0.6000$ initially, noting that breaking the mentioned support will push the price to turn to decline and achieve negative targets that start by visiting 0.5860$ followed by 0.5775$ areas.

 

The expected trading range for today is between 0.5900$ support and 0.6010$ resistance

 

Trend forecast: Bullish