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BTCUSD - Predicted US Fed rate hike pushes prices downwards​

It is expected that the financial authorities will once again adjust the interest rate indicator by 75 or even 100 basis points to combat record inflation. Traders will be watching for comments from the head of the regulator, Jerome Powell. If they turn out to be "hawkish" and the official confirms the need for further significant tightening of monetary parameters, the US dollar will receive an additional driver for growth.

In turn, the general pressure on the cryptocurrency market and BTC continues to be exerted by the problems of technology companies focused on digital assets. In particular, last week, it became known that the SkyBridge Capital hedge fund was temporarily suspending payments on investment shares. The American cryptocurrency exchange Blockchain.com announced the dismissal of 25% of its employees due to a difficult market situation. Marketplace Gemini, whose management has already gone on a cut of 10% of the staff, intends to fire another 7% of specialists to reduce costs.

In general, BTC has slightly strengthened its position since mid-July, but quotations' growth does not look sufficient to break the long-term downtrend.

The cryptocurrency price is close to the middle line of Bollinger bands, around 21500. If it is broken down, the decline may continue to 18750 (the bottom line of Bollinger bands), and 16900. The key "bullish" level is 25000, the breakdown of which will allow the quotes of the trading instrument to grow to the area of 28125, and 31250. Technical indicators do not give a single signal. Bollinger bands reverse upwards, the MACD histogram is near the zero line, its volumes are insignificant, and Stochastic is pointing downwards.

Resistance levels: 25000, 28125, 31250 | Support levels: 21500, 18750, 16900
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Crude Oil - Demand for oil contracts is still strong​

Oil quotes began the morning session with growth after Reuters reported a drop in US strategic reserves (SPR) to its lowest level since 1985. Thus, according to the national Ministry of Energy report, for the week from July 16 to July 22, the indicator decreased by 5.6M barrels. Thus, the total volume of stocks in storage facilities fell to 474.5M barrels, and this figure will continue to decrease since, according to the plans of the US government, the launch of sour oil on the market is scheduled before the end of this year.

On the weekly chart, the price, having rebounded from the support line of the wide channel, turns in the direction of growth, forming a local Head and shoulders pattern. Technical indicators keep a sell signal but have already started a reversal: fast EMAs of the Alligator indicator are approaching the signal line, and the histogram of the AO oscillator, being in the sell zone, is forming new upward bars.

Support levels: 96.93, 92.4 | Resistance levels: 103.61, 112.32​

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The ETHUSD pair continues to trade within a wide long-term downward channel. However, over the past two weeks, the cryptocurrency has shown significant growth, adding about 66%, and consolidated at 1660. However, the quotes failed to stay in this area and resumed the decline.

For the development of downward dynamics, the digital asset needs to fall below the support zone of 1375 − 1345 (the middle line of Bollinger bands). In this case, the downside targets will be 1250 and 1125, and 1000. The key “bullish” level is 1625, the breakout of which will allow quotes to continue moving to the area of 1750, 1885 Fibonacci correction 38.2%).

Technical indicators do not give a single signal: Bollinger bands are directed upwards, Stochastic reversed downwards, while the MACD histogram is stable in the positive zone. Given the long-term trend, a continuation of the price decline soon seems to be a more likely scenario.

Resistance levels: 1500, 1625, 1750, 1885 | Support levels: 1345, 1250, 1125, 1000
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What is Moving Average Convergence Divergence?​

One of the most often used technical analysis indicators is moving average convergence divergence. It’s a trend-following momentum indicator, which means it looks at the momentum of an asset to see whether it’s trending up or down. It may be used to generate trade signals and discover trading opportunities. The Moving Average Convergence Divergence indicator is shown in a separate window beneath the chart. It has the appearance of a histogram with an auxiliary line.

The divergence of two moving averages is depicted in the histogram. The histogram bars increase longer as one travels away from the other; the bars get shorter as the moving averages get closer. Rapid movements will show up as long bars in the MACD histogram, whereas flat will show up as short bars. The default values for the indicator are 12,26,9. However, it’s worth noting that many traders confuse the indicator’s two lines with simple moving averages.



Remember that the lines are exponential moving averages, which will react more strongly to recent price movement than a standard moving average (SMA). Thus, the MACD lines are represented as 12-period EMA and 26-period EMA.
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USDCAD - Growth is possible.

On the daily chart, the first wave of the higher level (1) of 5 forms, within which the wave 3 of (1) develops. Now, the third wave of the lower level iii of 3 is developing, within which the wave (iii) of iii is appearing.

If the assumption is correct, the USDCAD pair will grow to the area of 1.341–1.37. In this scenario, critical stop loss level is 1.2521.

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ADAUSD - Ambiguous trading dynamics​

The growth of cryptocurrency quotes was due to monetary reasons. Yesterday, the US Federal Reserve chose a more cautious tactic of tightening monetary parameters, increasing the interest rate by only 75 basis points instead of 100 basis points, as predicted by many experts. The regulator also recognized the possibility of reducing the indicator's adjustment rate to assess the impact of the steps taken on the state of the national economy. These statements put pressure on the US currency and strengthened the positions of the main competitors, including digital assets. However, the current quote rise may be temporary, as long-term pressures on the cryptocurrency market persist. First, the US Federal Reserve is not at all abandoning its intended "hawkish" course to fight inflation, and even if its pace slows down, the tightening policy is likely to continue. Also, in the context of the global economic crisis, interest in risky assets is declining, which is also reflected in the dynamics of cryptocurrency rates.

Short-term support for the quotes of the ADA/USD pair may be provided by the launch of the Vasil update, scheduled for August. The hard fork should lead to a significant increase in network scalability and expand the use of smart contracts. However, even with great technical improvements, monetary and economic factors will continue to pressure the instrument's positions.

The ADAUSD pair continues to trade in a long-term downtrend. However, in the last few months, the decline has slowed down. Currently, the key "bearish" level is the middle line of Bollinger bands (0.47). After its breakdown, the quotes can return to 0.4395 and 0.4170, otherwise, growth will resume around 0.5371 and 0.5860.

Resistance levels: 0.5371, 0.5859, 0.61 | Support levels: 0.47, 0.4395, 0.417​

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Solid ECN Products​

A professional method to secure assets reasonably is diversified trading. Trading on limited numbers of instruments was never suggested by the market leaders and hedge funders. They always spread their investments among commodities, indices, and or currencies. Diversity is one of the many keys to having success in the trading world.

At Solid ECN, clients have access to trade the world with high leverage whilst the spread is tightened at its minimum. You can create your dealing basket to enjoy the product diversity with Solid ECN. We strive to offer our customers the most popular and trending products, and we made a live and long list of trading instruments.

As of writing the list contains 250 products including:

> Forex (Major | Crosses | Minor)
> Precious Metals (Gold | Silver | Palladium | Platinum)
> Energy (Brent | WTI)
> Indices (spot)
> Nasdaq
> EPA (Adidas | British American Tobacco | BMW | Airbus and more …)
> Cryptocurrencies (Cardano | Algorand | BNB | Dogecoin | Ripple and more …)
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$50 No Deposit Bonus​

Solid ECN offers its clients multiple trading benefits to stay at Solid ECN, starting with a $50 Trading Bonus. In other words, we give you $50 worth of credit (non-withdrawable) just for opening your first Real Account, allowing you to test our products and services by starting to trade with no initial deposit.
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Who Can Claim it?​

This promotion is available to all traders opening a Solid ECN Real Account for the first time. This promotion is not available for the citizens of Indonesia, Russia, Uzbekistan, Tajikistan, Egypt, Iraq, Pakistan, Syria, Afghanistan, and Palestine.

There is a 5-day limit from the date of opening your account in which time you must claim the bonus before it is rendered unavailable.
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How to Get the Trading Bonus?​

To claim the Bonus, you need to follow a few simple steps:​

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• Click the Create No Deposit Account button to Claim your Bonus​

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Last week, the BTCUSD pair had ambiguous dynamics.​

First, the price fell to the 22200 area due to fears of a sharp increase in interest rates and the "hawkish" rhetoric from US Federal Reserve officials, as inflation in the country reached a record level of 9.1%. The regulator's decision was restrained, the interest rate was raised only by 75 basis points, and the head of the department, Jerome Powell, acknowledged the possibility of a further slowdown in its growth, which provoked a positive trend in "digital gold." The following data on the US gross domestic product (GDP) decline in the second quarter by 0.9%, which means the beginning of a technical recession in the US economy, contributed to an even greater decline in the dollar and the strengthening of alternative assets. Investors have again turned to cryptocurrencies as shelter assets, fearing worsening economic problems, which has caused enthusiasm among members of the digital community. Thus, the CEO of the Binance exchange, Changpeng Zhao, said in an interview with CNBC that the current increase in inflation, along with the decline in the world's leading economies, could lead to further popularization of digital assets. The businessman also considers holding the important mark of 20000 by the price as a positive moment, from which the beginning of a new growth cycle is possible.

However, the current situation does not yet mean a reversal of the long-term downtrend since the US Federal Reserve, despite the likely slowdown in monetary policy tightening, will not completely abandon it, and the final quarterly US GDP data may turn out to be better than the preliminary ones, which will once again force investors to buy the dollar.

The price corrected downwards from the area of 24600, but for a serious decline, it needs to consolidate below the middle line of Bollinger bands around 22400. In this case, the quotes will be able to drop to 20000 (bottom line of Bollinger bands) and 18750. Otherwise, growth will resume to 25000 and 28125. Technical indicators suggest that the short-term uptrend will continue, as Bollinger bands are directed upwards, the MACD histogram is increasing in the positive zone, while Stochastic is leaving the overbought zone, but so far, the downside potential is seen as limited.

Resistance levels: 25000, 28125, 31250 | Support levels: 22400, 20000, 18750​

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$50 No Deposit Bonus​

Solid ECN offers its clients multiple trading benefits to stay at Solid ECN, starting with a $50 Trading Bonus. In other words, we give you $50 worth of credit (non-withdrawable) just for opening your first Real Account, allowing you to test our products and services by starting to trade with no initial deposit.
​

Who Can Claim it?​

This promotion is available to all traders opening a Solid ECN Real Account for the first time. This promotion is not available for the citizens of Indonesia, Russia, Uzbekistan, Tajikistan, Egypt, Iraq, Pakistan, Syria, Afghanistan, and Palestine.

There is a 5-day limit from the date of opening your account in which time you must claim the bonus before it is rendered unavailable.
​

How to Get the Trading Bonus?​

> Open a Real Account
> Log in to the Members Area using your credentials.
> Provide the relevant identification documents to validate your account (ID - Address - Valid cell phone number)
> Click the Create No Deposit Account button to Claim your Bonus
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What Is a Margin Call?​

A margin call occurs when the value of an investor’s margin account falls below the broker’s required amount. An investor’s margin account contains securities bought with borrowed money (typically a combination of the investor’s own money and money borrowed from the investor’s broker). A margin call refers specifically to a broker’s demand that an investor deposit additional money or securities into the account so that it is brought up to the minimum value, known as the maintenance margin.

A margin call is usually an indicator that one or more of the securities held in the margin account has decreased in value. When a margin call occurs, the investor must choose to either deposit additional funds or marginable securities in the account or sell some of the assets held in their account.​

• A margin call occurs when a margin account runs low on funds, usually because of a losing trade.​
• Margin calls are demands for additional capital or securities to bring a margin account up to the minimum maintenance margin.​
• Since short sales can only be made in margin accounts, margin calls can also occur when a stock goes up in price and losses start mounting in accounts that have sold the stock short.​

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ASK (OFFER) PRICE​

The price at which the market is prepared to sell a product. Prices are quoted two-way as Bid/Ask. The Ask price is also known as the Offer. In FX trading, the Ask represents the price at which a trader can buy the base currency, shown to the left in a currency pair. For example, in the quote USDCHF 1.4527/32, the base currency is USD, and the Ask price is 1.4532, meaning you can buy one US dollar for 1.4532 Swiss francs.

In CFD trading, the Ask also represents the price at which a trader can buy the product. For example, in the quote for UK OIL 111.13/111.16, the product quoted is UK OIL and the Ask price is £111.16 for one unit of the underlying market.
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EURUSD - Growth is possible.​

On the daily chart, a downward correction of the higher level developed as the wave (B), within which the wave C of (B) formed, and the upward wave (C) started. Now, the entry first wave of the lower level (i) of i of 1 of (C) is forming, within which the wave iii of (i) is forming.

If the assumption is correct, the EURUSD pair will grow to the levels of 1.0612 – 1.0787. In this scenario, critical stop loss level is 1.0082.

 

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How to avoid being affected by inflation​

For people who have a free, but not anarchic lifestyle, trading is another possibility to earn extra money. The most important factor is time, if you have it at your disposal, you can use it to make trades that lead you to live in a different way.
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How to avoid being affected by inflation​

Unfortunately, inflation is a very topical issue. At the time of writing, inflation in Europe is high and in Spain it has shot up to 8.7%. To sum it up quickly, inflation is how much prices are rising and the cause of money losing value. Realistic, analytical and scientific trading will increase your winning positions, get money back and, of course, protect you from inflation. This is because you will increase your income and avoid going into debt to continue living, which is unfortunately a very common practice.

We insist on the importance of training, doing trading is not to arrive and kiss the saint, it has a huge work behind that, too often, is not seen. If you have taken a stroll around the supermarket these days, you will have noticed that most of the products sold there are more expensive.
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How to increase your savings​

Many people who started out trading as a casual activity have gone on to make it a way to increase their income and, therefore, their ability to save. Trading is not about getting in and getting rich, in fact, those who go in with those intentions quickly achieve the opposite. If you keep a cool head and set aside a certain amount of your earnings, you will be acquiring financial freedom and you will have a basis for anything. Get the idea that trading is about casting the net and catching fish, not filling the boat immediately. If you are willing to make trading a way to hold on to your savings, you can do it as long as you take small steps.
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BTC USD - short-term price correction possible

The main driver of positive dynamics was the July data on US inflation: a slowdown in its growth to 8.5% made many investors hope that the peak of consumer price growth in the country has passed, and the indicator will now begin to move towards the target level of 2.0%, which may force the US Federal Reserve to abandon a sharp rate hike of 75 or 100 percentage points at the next meetings. It, in turn, became a catalyst for the active decline of the dollar against its main competitors. Also, the transition of the Ethereum network to the Proof-of-Stake (PoS) proof algorithm, scheduled for mid-September, arouses the interest of traders in the entire cryptocurrency market and “digital gold” in particular.

The price has rolled back down and not consolidated above 25000. Judging by the reversal of Stochastic near the overbought zone, the decline may continue to the middle line of Bollinger bands around 23650, and in case the quotes consolidate below it and 23437.5, return to 21875. Otherwise, growth will resume towards 25000, 26562.5, and 28125.

Resistance levels: 25000, 26562.5, 28125 | Support levels: 23437.5, 21875, 20312​

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