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The EURJPY pair confirmed its affection by the domination of the correctional bearish bias by providing frequent negative closings below 144.25 barrier, to start getting the negative momentum coming by stochastic.

These factors allow us to continue suggesting the negative attempts, to expect targeting 142.2 level soon, while breaking this obstacle will push the price to reach additional stations that might start at 140.9 and 140.

The expected trading range for today is between 143.30 and 142.2. The expected trend for today: Bearish.​

 

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XAUUSD - Fibonacci analysis

D1
On the daily chart, the price reversed at 1868.00 (correction of 23.6%) and corrected downwards as part of a descending fan. Currently, the quotes are preparing to test the level of 1812.00, fixing below which will give the prospect of further decline up to the level of 1726.50 (extension of 61.8%). If the price consolidates above the center line of Bollinger Bands (1838.00), the growth may resume to the levels of 1868.00 (correction 23.6%) and 1902.50 (correction 38.2%). However, this variant of the movement is seen as less preferable, since the indicators point to the continuation of the downtrend: Bollinger Bands and Stochastic are reversing downwards, and MACD is stable in the negative zone.

W1
On the weekly chart, the price dropped to 1811.00 (correction of 61.8%), which is currently being tested. Consolidating the price below it will give the prospect of further decline to the area of 1782.00 (opposite fan line 38.2%). Otherwise, growth will resume to the levels of 1844.50 (correction of 50.0%), 1878.00 (correction of 38.2%). Technical indicators don't provide a clear signal: Bollinger Bands are directed horizontally, MACD is near the zero line and its volumes are insignificant, and Stochastic has reversed downwards.

In the near future, it seems possible that the price will continue to decline with targets at the levels of 1782.00 (opposite fan line 38.2%, W1) and 1726.00 (extension of 61.8%, D1). If the quotes consolidate above 1838.00 (the center line of Bollinger Bands), growth will be able to resume to 1868.00 (correction of 23.6%, D1) and 1878.00 (correction of 38.2%, W1).

Resistance levels: 1838, 1868, 1878 | Support levels: 1811, 1782, 1726​

 

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NZDUSD, H4
On the four-hour chart, under the resistance level of 0.6312, there is the formation of the Three Black Crows candlestick analysis pattern, which is a downtrend continuation pattern, as well as the Evening Star pattern, which formed at the level of 0.6252 after a short-term upward correction. The combination of these patterns indicates systematic pressure from sellers. A likely scenario is a decrease in the asset to the support level of 0.6122, overcoming which will become a catalyst for the movement of quotes to the zone of 0.5933–0.5621; however, there is a risk that the "bulls" will withstand the blow and, if the price rebounds from the level of 0.6122, the asset may reverse and head to the resistance range of 0.6312–0.6870.

NZDUSD, D1
On the daily chart, a Descending Triangle price pattern is forming, the exit from which can be carried out downwards, which is confirmed by falling highs and a horizontal support level. In addition, there is the formation of Falling Three Methods patterns, signaling the continuation of the downtrend. If the price consolidates below the support level of 0.6122, the "bears" will be able to increase pressure up to the level of 0.5621.

Support levels: 0.6122, 0.5933, 0.5621 | Resistance levels: 0.6312, 0.6563, 0.687​

 

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USDCHF, D1
On the daily chart, the USD/CHF pair has been trading within the sideways range of 1.0025–0.9565 for more than two months (correction of 0.0% and 50.0%) and is currently trying to consolidate under its lower border again, after which the downward dynamics may develop to the levels 0.9460 (correction 61.8%) and 0.9400 (correction upward fan line 50.0%). The key “bullish” level is the resistance zone 0.9675–0.9710 (correction 38.2%, the middle line of Bollinger bands), upon breakout of which, growth can resume to 0.9810 (correction 23.6%), 1.0025 (correction 0.0%).

Technical indicators do not give a single signal: Bollinger bands are horizontal, the MACD histogram is increasing in the negative zone, and Stochastic reverses upwards.

USDCHF, W1
On the weekly chart, the USD/CHF pair fell to 0.9550 (38.2% correction), supported by the middle line of Bollinger Bands, consolidation below which will allow the asset to decline to 0.9400 (50.0% correction) and 0.9275 (61.8% correction) but it will have to overcome the rising counter fan. After the breakout of 0.9715 (correction 23.6%), the price will be able to return to 1.0000 (correction 0.0%).

Technical indicators do not give a single signal: Bollinger bands are directed upwards, confirming the continuation of the upward trend, but the MACD histogram is decreasing in the positive zone, and Stochastic is directed downwards.

The decline will remain relevant if the consolidation below 0.9500 (the middle line of Bollinger bands, W1) with the targets at 0.9400 (correction 50.0%, W1, ascending fan line 50.0%, D1), 0.9275 (correction 61.8%, W1). After the asset consolidates above 0.9715 (the middle line of Bollinger bands, D1, correction 23.6%, W1), positive dynamics can resume to 0.9810 (correction 23.6%, D1) and 1.0000 (correction 0.0%, W1).

Resistance levels: 0.9715, 0.9810, 1 | Support levels: 0.9500, 0.9400, 0.9275​

 

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eBay - technical analysis

On the daily chart of the asset, the price is falling within the narrow downwards channel of 40–46, approaching its lower border. The key support of the trading instrument is the annual level of 41; after its breakdown, the current trend will intensify.

On the four-hour chart, the quotes are in the middle of a downwards channel, attempting to consolidate below the low of the last week at 41, after which the lower limit of the range of 35 will become the target level. The movement in the direction of which is confirmed by the signals of technical indicators: fast EMAs on the Alligator indicator are far away from the signal line, and the histogram of the AO oscillator forms downward bars in the sell zone.

 

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EURUSD - market uncertainty remains​

The European currency started the new week with a local decline, as investors still cannot fully appreciate the impact of Friday's data on consumer prices on the long-term exchange rate. According to the June report, the indicator added 0.8%, thereby ensuring the growth of the annual inflation rate to a record 8.6%, which exceeded the analysts' forecast, which suggested an increase to 8.4%. The core consumer price index, which excludes fuel and food prices, rose 3.7%, down from 3.8% a month earlier, suggesting that the European Central bank (ECB) cannot solve the energy market situation. Today, several regulator officials will comment on further plans to reduce inflation, and investors expect to hear about possible new measures that will allow them to determine the direction of future transactions.

The trading instrument is moving within the global downward channel, clamping within the Triangle pattern. Technical indicators maintain a global sell signal: indicator Alligator's fast EMA oscillation range expands downwards, and the AO oscillator histogram has formed another downward bar, being in the sell zone.

Resistance levels: 1.0585, 1.0775 | Support levels: 1.0366, 1.02​

 

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The NZDUSD pair managed to achieve our extended target at 0.6150, and bounced bullishly to breach 0.6210 that forms key resistance now, as it keeps its stability below it until now, to support the continuation of the expected negative scenario on the intraday and short term basis, waiting to get negative motive that assist to push the price to surpass 0.6150 and head towards 0.6100 as a next target.

Therefore, the bearish trend scenario will remain valid unless breaching 0.6210 followed by 0.6280 levels and holding above them. The expected trading range for today is between 0.6150 support and 0.6250 resistance.

The expected trend for today: Bearish.​

 

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DAX 30: European stock markets continue to decline​

According to Deutsche Bank AG, the index lost 17.0% in Q2 2022, the worst performance since 2008. The downtrend in the stock markets of Europe is largely caused by analysts' fears about a possible recession as a result of the continued rise in inflation both in Germany and in the EU as a whole. Consumer prices in the euro area in June rose to 8.6% from 8.1% a month earlier.

On the global chart of the asset, the price is trading close to the level of the annual low at around 12500.0, preparing to make another attempt to overcome it. Technical indicators maintain a steady sell signal: fast EMAs on the Alligator indicator are actively moving away from the signal line, expanding the range of fluctuations, and the AO oscillator histogram, having moved into the sell zone, forms descending bars.

Support levels: 12600, 12000 | Resistance levels: 13255, 14260​

 

[SOLIDECN]

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.​

 

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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.​

 

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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 137.00 resistance. The expected trend for today: Bullish.​

 

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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

 

[SOLIDECN]

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.​

 

[SOLIDECN]

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.​

 

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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​

 

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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.​

 

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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

 

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EURUSD - the probability of continuation of the downward dynamics is high​

The EURUSD pair is actively declining ahead of today's publication of the minutes of the last meeting of the European Central Bank (ECB) on monetary policy, trading in the 1.0201 area. Although the goals of the regulator are long-awaited and known, investors hope to hear new signals from officials for making long-term decisions on opening trade deals.

The trading instrument is moving within the global downward channel, slowly approaching the parity level. Technical indicators maintain a global sell signal: indicator Alligator's EMA oscillation range expands downwards, and the AO oscillator histogram has formed another downwards bar in the sell zone.

Resistance levels: 1.035, 1.062 | Support levels: 1.016, 1​

 

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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​

 

[SOLIDECN]

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​