• Registered: 2022-05-10
  • Posts: 2,592

Re: Solidecn.com

USD/CHF Bulls Eye Key Resistance Levels

https://i.ibb.co/DQWrPmG/USDCHF-H4.png

Solid ECN—The USD/CHF bulls are trying to stabilize the price above the simple moving average (SMA) of 25 and Murrey 2/8 at 0.897, a resistance level coinciding with the Ichimoku cloud. However, the technical indicators suggest the market is bearish and the downtrend will likely resume.

Hence, if the price dips below the SMA 25, the next key resistance will be at Murrey 0/8 at 0.8911. If the selling pressure exceeds this level, the -1/8 Murrey at 0.888 could be tested again.

On the flip side, the key resistance level that supports the bearish scenario is Murrey 3/8 at 0.9. Should this level be breached, the pullback from 0.888 can extend to Murrey 4/8 at 0.903.

  • Registered: 2022-05-10
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Re: Solidecn.com

EUR/USD Analysis: Critical Support and Potential Rebound

https://i.ibb.co/KDGjXzC/EURUSD-H4.png

Solid ECN—EUR/USD is testing the crucial $1.067 support level, while the Demarker indicator shows the market is deeply oversold. The 4-hour chart reveals uncertainty, with shooting star candlesticks appearing three times. The key resistance level is at $1.072. If the price surpasses this area, we might see a pullback to $1.078, supported by the Ichimoku cloud.

On the other hand, if the EUR/USD bears push the price below the $1.067 support, the downtrend is likely to continue.

  • Registered: 2022-05-10
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Re: Solidecn.com

USDJPY Eyes June High at 158.2

https://i.ibb.co/qpw2wDg/USDJPY-H4.png

Solid ECN—The USDJPY is currently in a strong bullish trend, with the next target likely to be June's high of 158.2.

The MACD indicator is signaling divergence, while the Demarker indicator is declining below the oversold territory. These developments in technical indicators suggest the Japanese yen might recover some of its losses.

If the price dips to the lower line of the bullish flag, this demand zone, which aligns with the Ichimoku cloud, offers a good entry point to join the bull market.

  • Registered: 2022-05-10
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Re: Solidecn.com

Key Levels to Watch in Crude Oil Trends

https://i.ibb.co/FnRzmnW/USOUSDDaily.png

Solid ECN—The Crude Oil bulls are trying to maintain the price above the 38.2% Fibonacci level and the descending trendline. The immediate resistance is June 12's high at $79.0. If the price surpasses $79, the bullish trend that started at $72 is likely to test the Ichimoku cloud and the 50% Fibonacci level.

On the other hand, the primary trend will stay bearish as long as the Crude Oil price remains below the immediate resistance. If the market falls below the immediate support at $77.3, the next bearish target will be the 23.6% Fibonacci level at $75.8.

  • Registered: 2022-05-10
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Re: Solidecn.com

Eastern Tensions and Market Forces Propel Oil Futures

https://i.ibb.co/qk1nX3W/USOUSDDaily.png

Solid ECN—On Wednesday, WTI crude futures maintained a price of around $80.3 per barrel, their highest in seven weeks. This spike is due to increasing conflicts in Eastern Europe and the Middle East, which have raised concerns over oil supply disruptions.

A Ukrainian drone attack recently set an oil terminal ablaze in a key Russian port. Concurrently, tensions escalate as a senior Israeli official predicts a looming full-scale conflict with Hezbollah in Lebanon. Furthermore, oil prices gained support from strong global demand projections for the latter half of the year by entities like OPEC, the IEA, and the US EIA. Key OPEC+ nations, including Russia and Iraq, continue to stick to their production limits.

Additionally, Saudi Arabia has expressed readiness to adjust its oil output depending on market needs. In contrast, recent data indicates a rise in US crude stocks by 2.264 million barrels last week, contrary to the anticipated decrease.

  • Registered: 2022-05-10
  • Posts: 2,592

Re: Solidecn.com

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