Verified Company Solid ECN ✔️ Posted July 5, 2022 Author Verified Company Share Posted July 5, 2022 The NZDUSD pair provided positive trades yesterday but it stopped at the EMA50 that formed good resistance against the price, to decline again and test 0.6210 level, waiting for more bearish bias to head towards our next main target at 0.6100. Therefore, we will continue to suggest the bearish trend conditioned by the price stability below 0.6270. The expected trading range for today is between 0.6150 support and 0.6250 resistance. The expected trend for today: Bearish. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 5, 2022 Author Verified Company Share Posted July 5, 2022 The GBPUSD pair shows sideways trades since yesterday, moving around 1.2100 now, while the EMA50 continues to press negatively on the price, which keeps the bearish trend scenario valid and active, which its targets begin by breaking 1.2077 to confirm rallying towards 1.1933 as a next station. Holding below 1.2225 is important to continue the expected decline, as breaching it will lead the price to start correctional bullish wave on the intraday basis. The expected trading range for today is between 1.2020 support and 1.2170 resistance. The expected trend for today: Bearish. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 5, 2022 Author Verified Company Share Posted July 5, 2022 The USDJPY pair opened today with clear positivity to return to the bullish channel again, which leads the price to resume the main bullish trend and stop the bearish correction that dominated the recent trades, waiting to breach 136.70 to confirm extending the bullish wave towards 137.50 as a next positive target. The EMA50 supports the expected rise, which will remain valid unless breaking 135.50 and holding below it. The expected trading range for today is between 135.60 support and 137 resistance. The expected trend for today: Bullish. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 5, 2022 Author Verified Company Share Posted July 5, 2022 USDCHF = the "bulls" hold the May low The American dollar is currently the main asset that attracts investors. The next meeting of the national regulator will take place on July 27, and 85% of analysts surveyed expect a rate increase of 75 basis points to contain record-high inflation, which currently stands at 8.6% YoY. The USD Index is approaching the June high at 105.500, preparing to renew it and continue rising. On the other hand, Swiss prices rose to a 29-year high of 3.4% YoY in June. The country's financial regulator has repeatedly stated that the main goal of the bank's monetary policy is to contain inflation near the target value of 2.0%, and since the indicator has already exceeded the target value, the Swiss National Bank may again raise the interest rate at its next meeting, which will support franc. The main issue that experts are interested in is the time of this event: if the regulator convenes an extraordinary meeting and the tightening of monetary policy is unexpected, then the trading instrument may drop sharply to 0.9450 and 0.9360, but if the agency leaves consideration of this issue until the scheduled date of the meeting on September 22, then the USD/CHF pair will continue to strengthen to update the highs of May and June at 1.0040. The long-term trend is upwards. The price failed to consolidate below the May low at the key trend support at 0.9545, reversed, and moved to growth, the target of which will be the June high at 1.0040. As part of the medium-term downtrend last week, the trading instrument reached the target zone 4 (0.9496–0.9486), holding it, and began an upward correction, within which it tested the key resistance of the range around 0.9641–0.9628. If this area is held, the decline will continue to renew the June low, and in case of its breakout, the trend will change upwards with the target in zone 2 (0.9779–0.9765). Resistance levels: 1.0040, 1.0120 | Support levels: 0.9545, 0.9450, 0.936 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 5, 2022 Author Verified Company Share Posted July 5, 2022 USDCAD Hit the first target The USDCAD pair succeeded to touch our first waited target at 1.2840 and finds solid support there, to show some slight bullish bias now, while the EMA50 forms continuous negative pressure against the price, to support the continuation of the negative scenario that its targets extend to 1.2770 after breaking the previous level. Therefore, we will keep our bearish overview unless the price rallied to breach 1.2930 and hold above it. The expected trading range for today is between 1.2790 support and 1.2920 resistance. The expected trend for today: Bearish. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 6, 2022 Author Verified Company Share Posted July 6, 2022 The EURUSD pair resumes its negative trades to surpass 1.0250 level and settles below it, reinforcing the expectations of continuing the bearish trend for the rest of the day, reminding you that our next main target is located at 1.0100, while holding below 1.0355 represents key condition to continue the suggested decline. The expected trading range for today is between 1.0170 support and 1.0320 resistance. The expected trend for today: Bearish. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 6, 2022 Author Verified Company Share Posted July 6, 2022 The NZDUSD resumes the decline. The NZDUSD pair found solid support at 0.6120, to show some bullish bias now, affected by stochastic positivity, waiting to get negative motive that assist to push the price to decline again and head towards our next main target at 0.6100. In general, we will continue to suggest the bearish trend for the upcoming period unless breaching 0.6265 and holding above it. The expected trading range for today is between 0.6100 support and 0.6200 resistance The expected trend for today: Bearish Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 6, 2022 Author Verified Company Share Posted July 6, 2022 GBP USD Technical Analysis The GBPUSD pair tested 1.1980 level and keeps its stability below it, to keep the bearish trend scenario active for today, supported by the EMA50 that presses negatively on the price, waiting to get negative motive that assist to push the price to head towards our next target that reaches 1.1860. The expected trading range for today is between 1.1880 support and 1.2040 resistance. The expected trend for today: Bearish. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 6, 2022 Author Verified Company Share Posted July 6, 2022 USDJPY - growth was stopped by the resistance level of 136.70 Last week, negative data from the US was published, which investors attach more importance to in anticipation of the next meeting of the regulator on the interest rate, which will be held on July 27. Any deviation from the trend of sustainable development of the economy is perceived negatively by experts, as they expect an increase in interest rates by 75 basis points. If the statistics deteriorate, the issue of such a significant tightening of monetary policy may be reconsidered. Thus, the base price index of personal consumption expenditures decreased by 0.2% YoY compared to the previous month and amounted to 4.7%, which was lower than the forecast of 4.8%, and personal spending increased by 0.2% in May, despite the forecast of 0.4%, and the Initial Jobless Claims exceeded the forecast of 228.0K and amounted to 231.0K. The long-term trend is upwards. The trading instrument failed to break the resistance level of 136.70 and started a correction with the target at the support level of 134.55. If it is held, the asset will continue to grow and renew the June high, and in case of a breakdown, the correction will continue to 131.40. The medium-term trend remains upwards. After reaching the target zone 3 (137.09–136.72), the price is in correction with the target at the key trend support 132.99–132.60. Resistance levels: 136.70, 139 | Support levels: 134.55, 131.4 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 7, 2022 Author Verified Company Share Posted July 7, 2022 3M Co - technical analysis The shares of 3M Co., an American diversified innovative manufacturing company, traded in a downtrend around 129. On the daily chart, the price is holding in a stable downwards channel with dynamic boundaries 108.00–138.00 and, reversed around at the resistance line, is heading towards support, having renewed the next year's low at 126. On the four-hour chart, it can be seen that this level coincides with the initial trend of 61.8% for the Fibonacci expansion, the breakdown of which will mean continued global sales with the target at 100.0% for the Fibonacci expansion in the support line of the channel 109. The likely decline is confirmed by the readings of technical indicators that have reversed long ago and keep a stable sell signal: fast EMAs on the Alligator indicator are significantly below the signal line, and the AO oscillator histogram forms bars with a downward trend in the sell zone. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 7, 2022 Author Verified Company Share Posted July 7, 2022 USDCAD - the market is preparing for a sharp rate hike by the Bank of Canada The Canadian currency continues to give way to the US dollar, despite the rather active attempts of the Bank of Canada to prevent the growth of inflation, which reached 7.7% in May. According to the updated forecasts of the Canadian regulator, in the near future the indicator may exceed 8.0% for the first time in 40 years, and therefore the likelihood that the interest rate will be raised immediately by 0.75% on July 13 is very high. In addition, the management of the Bank of Canada publicly acknowledged their mistakes, which led to a sharp rise in prices, promising that from July the analysis of macroeconomic data and forecasts will become more transparent. Canada's business activity data for July is expected to be published today, and data on the state of the labor market, which, according to forecasts, has begun to slow down, will be published tomorrow. On the global chart of the asset, the price is trading within a wide ascending channel with dynamic boundaries of 1.2500–1.3100, having reached the resistance line for the second time since the beginning of summer. The fluctuation range of the Alligator indicator EMAs is holding a buy signal, and the histogram of the AO oscillator is forming new ascending bars, actively rising in the sell zone. Support levels: 1.2939, 1.2754 | Resistance levels: 1.3075, 1.33 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 7, 2022 Author Verified Company Share Posted July 7, 2022 USDCAD - the market is preparing for a sharp rate hike by the Bank of Canada The Canadian currency continues to give way to the US dollar, despite the rather active attempts of the Bank of Canada to prevent the growth of inflation, which reached 7.7% in May. According to the updated forecasts of the Canadian regulator, in the near future the indicator may exceed 8.0% for the first time in 40 years, and therefore the likelihood that the interest rate will be raised immediately by 0.75% on July 13 is very high. In addition, the management of the Bank of Canada publicly acknowledged their mistakes, which led to a sharp rise in prices, promising that from July the analysis of macroeconomic data and forecasts will become more transparent. Canada's business activity data for July is expected to be published today, and data on the state of the labor market, which, according to forecasts, has begun to slow down, will be published tomorrow. On the global chart of the asset, the price is trading within a wide ascending channel with dynamic boundaries of 1.2500–1.3100, having reached the resistance line for the second time since the beginning of summer. The fluctuation range of the Alligator indicator EMAs is holding a buy signal, and the histogram of the AO oscillator is forming new ascending bars, actively rising in the sell zone. Support levels: 1.2939, 1.2754 | Resistance levels: 1.3075, 1.33 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 7, 2022 Author Verified Company Share Posted July 7, 2022 USDJPY: market uncertainty persists The long-term uptrend in the pair will continue, despite the slowdown in price growth in the last few weeks. The key for the "bulls" is the resistance zone 136.70-137.50, the breakout of which will give the prospect of further upward dynamics to 139.06, 140.62. If the price consolidates below the middle line of the Bollinger Bands around 135, the decline will continue to the levels of 132.8 and 131.25. Resistance levels: 137.50, 140.62, 143.75 | Support levels: 135.00, 132.80, 131.25 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 8, 2022 Author Verified Company Share Posted July 8, 2022 NZDUSD Technical Analysis The pair is trading in the descending channel for the last 3 weeks. The downtrend scenario is valid as long as the bears can keep the price within the channel line and below the 50 moving average. Support: 0.6124 | Resistance: 0.6195 - 0.6251 Trading Idea: Sell targeting 0.6124 | SL: 0.626 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 8, 2022 Author Verified Company Share Posted July 8, 2022 USDJPY Technical Analysis The currency pair is trading sideways below 137. Bears are struggling with breaking the 50 MA which supports the continuation of the bullish trend. Considering the MACD divergence breaking the 134.74 will add pressure on the price to decline toward 131.49 before any new attempt to rise. Support: 134.74 - 131.49 | Resistance: 137 Trading idea Sell targeting 134.7 - 134.26 | SL: 137 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 10, 2022 Author Verified Company Share Posted July 10, 2022 Crude Oil - new COVID-19 outbreak in China alarmed the market As part of the Russian authorities' discount policy for the sale of energy resources to India and China, Saudi Arabia announced similar terms of cooperation to its customers for some brands of Arabian oil, in particular, Arab Heavy and Arab Medium. Competition among suppliers in the Asian region is intensifying: in May, China increased the volume of supplies from Russia to 8.42 million tons (or 1.98 million barrels per day), and the reasons for the correction of the discount in the cost of Russian "black gold" in relation to Brent Crude Oil is not observed to decrease (now it remains at the level of 30 dollars per barrel). Meanwhile, it is worth noting that it was India and China that previously actively imported oil from Saudi Arabia due to the technologies available at these refineries for processing denser types of energy carrier. At the moment, investors are alarmed by reports from China about an increase in the incidence of coronavirus and the return of restrictions on the movement of citizens in 11 cities, which make up about 15% of the country's gross domestic product. A possible quarantine could lead to a reduction in hydrocarbon consumption. On the global chart, the price overcame the uptrend support line and consolidated below it. Now, the quotes are likely to make a reverse test of the passed line, as the trading volumes accumulated during the rapid growth above 100 dollars are maintained and are still in the asset. Despite the fact that technical indicators point to continued sales, a correction is not ruled out: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram is trading in the sell zone. Support levels: 94.74, 87.31 | Resistance levels: 102.72, 109.28 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 11, 2022 Author Verified Company Share Posted July 11, 2022 Cisco Systems - technical analysis The shares of Cisco Systems Inc., the largest manufacturer and supplier of network equipment for holdings and telecommunications companies, are correcting around 43. On the daily chart of the asset, the price is moving within a global downward channel with dynamic boundaries of 32–44, having reached the resistance line yesterday after an unsuccessful attempt to overcome the annual low of 41. On the four-hour chart, the local movement within the channel is clamped into a Triangle pattern, the upper limit of which coincides with the global range resistance line at 44, which the quotes will try to break and reach the beginning of the price gap of May 18 around 47.8. Technical indicators remain in the state of a sell signal, although indicator Alligator’s EMA oscillation range has begun to narrow, and the AO oscillator histogram is forming upward bars in the sell zone. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 11, 2022 Author Verified Company Share Posted July 11, 2022 USDCAD - Technical analysis H4 On the 4-hour chart, there is a downtrend in a short-term "bearish" trend, which is confirmed by a series of Three Black Crows patterns at the level of 1.3036. Currently, an Engulfing pattern has formed at 1.2932, which includes a Shooting Star candlestick. The combination of these figures signals the systematic pressure of sellers. The most likely scenario is a decline to the support level of 1.2932, overcoming which will allow the "bears" to strengthen the downtrend up to the level of 1.2534, while fixing the price above the resistance level of 1.3036 will allow the "bulls" to continue moving towards the area of 1.3118–1.3323. D1 A Double Top price pattern has formed on the daily chart. In addition, an Evening Star reversal pattern formed at the resistance level of 1.3036, after which a Shooting Star pattern appeared, which strengthens the "bearish" mood in the market. In the current situation, the scenario with the decline of the asset to the support zone of 1.2932–1.2534 seems more likely. If the "bulls" still manage to hold the key support level of 1.2857, where the Neck line of the Double Top price pattern passes, buyers will have the opportunity to restore quotes back to the range of 1.3036–1.3323. Support levels: 1.2932, 1.2857, 1.2737, 1.2534 | Resistance levels: 1.3036, 1.3118, 1.3323 Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 11, 2022 Author Verified Company Share Posted July 11, 2022 Verizon Communications - technical analysis On the daily chart of the asset, the quotes are trading below the global channel 51–56 and completing the reverse test of the range support line passed. On the four-hour chart, it is clearly seen that corrective growth is developing in the form of a Triangle pattern. Inside the figure, the price has reached the support line at 50 and is preparing to reverse upward, which, in turn, will signal the end of the correction and the continuation of the global decline with the target around 45.5. Nevertheless, the readings of technical indicators reflect the continuation of local growth: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram is trading in the buying zone. Link to comment Share on other sites More sharing options...
Verified Company Solid ECN ✔️ Posted July 12, 2022 Author Verified Company Share Posted July 12, 2022 USDJPY Technical Analysis Bulls are trading the USD JPY above 137, which supports the price now. RSI and Stochastic have left the overbought zone, that lead the market to test 137 support after the break-out. The bullish trend is valid with the price fluctuation above the 50 MA and 137.74 deck. Trade idea Buy at 137.3, Target: Open | SL: 134.26 Link to comment Share on other sites More sharing options...
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