USD CAD - Technical analysis

H4
On the four-hour chart, in the range of 1.2873–1.3082, there is a long-term consolidation of the asset. A confirmation of the development of the "bullish" impetus is the formation of the Morning Star model at the support level of 1.2873, and the formation of the Hammer candlestick analysis reversal pattern at 1.2933 may serve as the next signal for a possible early start of an upward movement. The combination of these models suggests that buyers are actively strengthening their positions, preventing sellers from dropping the price below the important level of 1.2873. In this situation, a scenario with an uptrend to the resistance level of 1.3082 seems likely, and consolidation above it will allow the "bulls" to move into the range of 1.3419–1.3704. An alternative scenario is possible if the "bears" overcome the level of 1.2873: then the price may drop to the zone of 1.2472–1.2074.

D1
On the daily chart, a potential trend continuation price pattern Bull Flag is forming. This was initiated by the formation of the Three Advancing White Soldiers candlestick pattern at 1.2472. At the moment, the uptrend continuation model Rising Three Methods at the level of 1.2933 has been indicated on the chart. Most likely, the asset will head higher to the resistance zone 1.3082–1.3704.

Support levels: 1.2873, 1.2472, 1.2074 | Resistance levels: 1.3082, 1.3419, 1.3704

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McDonald - The price may grow.

If the assumption is correct, the price of the asset will grow to the levels of 280 – 295. In this scenario, critical stop loss level is 231.85.

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GBPUSD - The pair may fall.
If the assumption is correct, the GBP/USD pair will fall to the levels of 1.1750–1.1550. In this scenario, critical stop loss level is 1.2412.

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EURUSD Surpasses the resistance

The EURUSD pair closed last Friday above 1.0550 level, to activate the bullish trend scenario on the intraday basis, organized inside the bullish channel that appears on the chart, waiting for positive trades in the upcoming sessions that target 1.0670 areas mainly.

Therefore, the bullish bias will be suggested for today, noting that breaking 1.0550 followed by 1.0525 levels will stop the positive scenario and press on the price to turn to decline.

The expected trading range for today is between 1.0500 support and 1.0640 resistance.

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XAG USD - The pair may fall.

If the assumption is correct, the XAG USD pair will fall to the levels of 18.4–15.6. In this scenario, critical stop loss level is 22.

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PayPal - The price may fall.

If the assumption is correct, after the end of the correction, the price of the asset will fall to the levels of 50–25. In this scenario, critical stop loss level is 189.95.

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The USDCHF pair reached few pips away from our waited target at 0.9525, and continues to move inside the intraday bearish channel that appears on the chart, which supports the chances of surpassing the mentioned level and open the way to achieve negative targets that extend to 0.9400.

Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 0.9630 and hold above it.

The expected trading range for today is between 0.9500 support and 0.9600 resistance.

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NZDUSD - The pair may fall
On the daily chart, the upward wave of the higher level (А) of B formed, and a downward correction develops as the wave (B) of B, within which the wave C of (B) forms. Now, the third wave of the lower level iii of C has formed, the correctional wave iv of C has developed, and the fifth wave v of C is forming, within which the wave (iii) of v is developing.

If the assumption is correct, the NZDUSD pair will fall to the levels of 0.6060 – 0.5910. In this scenario, critical stop loss level is 0.6330.

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XAGUSD, ambiguous dynamics after a sharp decline yesterday
The asset is under pressure due to the strengthening of the US currency in anticipation of the next speech by US Federal Reserve Chairman Jerome Powell, whose rhetoric is likely to favor further tightening monetary policy during the July meeting. As before, the markets do not analyze the very fact of the rate increase but the pace of this growth and the evaluation of the effectiveness of the steps taken earlier. Meanwhile, the Bank for International Settlements (BIS) has called for a more "hawkish" stance from leading financial regulators, despite the risks of a slowdown in macroeconomic indicators: if measures are not taken promptly, this could lead to general stagflation. However, the current rate adjustment in the world's major economies is 1% to 6% below the historical range and is similar to what was recorded in the 1970s, according to a document published by the BIS.

The trading instrument is slightly supported by a corrective decline in the yield of 10-year US Treasury bonds, which on Wednesday morning corrected from 3.207% to 3.172%, as well as inflationary risks in the world's leading economies: for example, in May, price growth in the US accelerated to 8.6%, which is the highest since 1981. Another positive factor for silver is the increase in industrial activity in China, which is gradually increasing the volume of imports and is recovering from the downtime of factories closed for quarantine. Yesterday, Chinese media noted that no new COVID-19 cases were reported in Beijing and Shanghai on Monday for the first time since February 19.

On the daily chart, Bollinger Bands are steadily declining: the price range is expanding from below, letting the "bears" renew local lows. The MACD indicator is falling, keeping a relatively strong sell signal (the histogram is below the signal line). Stochastic, having made an unsuccessful attempt to reverse upwards at the end of last week, returned to the decline again, indicating that the instrument may become oversold in the ultra-short term.

Resistance levels: 20.86, 21.21, 21.40, 21.69 | Support levels: 20.58, 20.39, 20, 19.5

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DAX 30, H4
On the four-hour chart, there is a lateral movement of the asset within the boundaries of 12829–13323, and at the moment a Bearish Rectangle price pattern is being formed, the exit from which, most likely, can be carried out downwards, as well as a "bearish" Pattern Method of Three Falling, which signals about the continuation of the downtrend. Nevertheless, the growth of quotations is estimated as a probable scenario with a short-term correction to the resistance level of 13323, after which the instrument will resume its decline to the level of 12829. Breaking this level will mean that the Bearish Rectangle price pattern is entering its final stage and the downward movement will intensify into the support zone of 12533–11305. An alternative scenario can be implemented if the "bulls" fix their positions above 13323; then it will be possible to restore the price to the range of 14240–1512.

DAX 30, D1
On the daily chart, in the area of 13323, a Bearish Engulfing pattern is observed, which indicates that buyers could not hold their positions that day, falling to the level of 12829; however, immediately after it, a Bullish Engulfing pattern formed at the same level, which signals a price reversal at the bottom, although the buyers' attempt was unsuccessful and the model did not receive confirmation of the market's "bullish" mood. The signal for this was the formation of a "bearish" Shooting Star model under the resistance level of 13323. At the moment, the likely scenario is that the asset will fall to the support level of 12533, overcoming which will allow the "bulls" to head lower to the zone of 11947–11305.

Support levels: 12533, 11947, 11305 | Resistance levels: 13323, 14240, 15120

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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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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