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Re: Market Update by Solidecn.com

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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%).

https://i.ibb.co/WxRzY3c/usdchf-1.png

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.

https://i.ibb.co/MDWMtkY/usdchf-2.png

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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Re: Market Update by Solidecn.com

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Crude Oil - A fall is possible.

If the assumption is correct, WTI Crude Oil price will fall to the levels of 82.3–67. In this scenario, critical stop loss level is 123.8.

https://i.ibb.co/7SDwFDx/oil.png

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Re: Market Update by Solidecn.com

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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.

https://i.ibb.co/QKtY5yx/ebay.png

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Silver - A fall is possible.

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 21.53.

https://i.ibb.co/s6zXx28/silver.png

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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.

https://i.ibb.co/7k0nG2d/eurusd.png

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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Netflix - The price may grow.

If the assumption is correct, the price of the asset will grow to the levels of 326.97–397. In this scenario, critical stop loss level is 163.03.

https://i.ibb.co/pPnHsMZ/netflix.png

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Re: Market Update by Solidecn.com

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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.

https://i.ibb.co/T1Z2hC5/nzdusd-tech.png

The expected trend for today: Bearish.

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BTCUSD - "digital gold" remains under pressure
In June, the coin showed the worst dynamics in 12 years, losing 38% of its value, and in Q2 the indicators dropped by 58% to the values of 2011. In the near future, the overall pressure on the cryptocurrency sector may increase, as serious economic difficulties that have arisen for a number of large companies focused on digital assets have joined the problem of global monetary policy tightening.

During Q2, global regulators repeatedly raised interest rates, in particular, the US Fed adjusted them by 125 basis points in total, bringing them to 1.75%. Such a rapid tightening caused investors to fear a recession and led to their withdrawal from risky assets, including digital ones. A serious decline in prices caused problems for a number of companies, only increasing the panic in the cryptocurrency market. Thus, due to the liquidity crisis, the activities of the large Singapore cryptocurrency hedge fund Three Arrows Capital, known for its "bullish" bets, were discontinued. The credit company Celsius Network and the crypto exchange CoinFLEX have suspended withdrawals for customers, citing "extreme market conditions." In an effort to reduce losses, the Huobi trading platform plans to cut about 30% of employees, and the Hong Kong OSL exchange – about 15%.

In general, the fundamental picture continues to be unfavorable and, according to a number of experts, within a few months BTC will be able to reach the "bottom" in the region of 10K dollars per coin.

https://i.ibb.co/LdLbMcJ/btc.png

Technically, the price is close to the 18750 mark (Murray [2/8]), the breakdown of which will give the prospect of further decline to the levels of 15625 (Murray [1/8]), 12500 (Murray [0/8]) and 10000. With a breakout of the level of 25000 (Murray [4/8], Fibo retracement of 23.6%), growth will be able to resume to 28125 (Murray [5/8]), 31250 (Murray [6/8]).

Technical indicators do not give a single signal: the Bollinger Bands consolidate before a serious movement, the MACD histogram decreases in the negative zone, and the Stochastic is directed upwards.   

Resistance levels: 21875, 25000, 28125, 31250 | Support levels: 18750, 15625, 12500, 10000

Re: Market Update by Solidecn.com

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EURUSD - The pair may fall.

If the assumption is correct, the EURUSD pair will fall to the levels of 1.03–1.02. In this scenario, critical stop loss level is 1.0608.

https://i.ibb.co/bJcGB8n/eurusd.png

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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 1.2330.

https://i.ibb.co/Mk1j7H1/gbpusd.png

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Re: Market Update by Solidecn.com

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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.

https://i.ibb.co/yW7VcDZ/gbpusd-tech.png

The expected trend for today: Bearish.

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USDCAD - The pair may grow.

If the assumption is correct, the USD/CAD pair will grow to the levels of 1.3410–1.3700. In this scenario, critical stop loss level is 1.2816.

https://i.ibb.co/xCLGrPS/usdcad.png

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USDCHF - the pair may grow

If the assumption is correct, the USD/CHF pair will grow to the levels of 1.0200–1.0350. In this scenario, critical stop loss level is 0.9490.

https://i.ibb.co/vL9ysH0/usdchf.png

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Re: Market Update by Solidecn.com

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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

https://i.ibb.co/Hq63Y59/nzdusd-tech.png

The expected trend for today: Bearish

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AUDUSD - The pair may fall.

If the assumption is correct, the AUD/USD pair will fall to the levels of 0.6446–0.6082. In this scenario, critical stop loss level is 0.6961.

https://i.ibb.co/s19z8w6/audusd.png

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XRP USD - Murray analysis

Currently, the price has come close to the middle line of the Bollinger Bands in the area of 0.33, at the breakout of which the growth will be able to continue to the levels of 0.3906, 0.4395. The key for the "bears" remains the 0.293 mark, consolidation of the price below which will give the prospect of further decline to the level of 0.1953 (the lower limit of the descending channel.

https://i.ibb.co/ZNYskSL/xrp.png

The downward trend in the market remains, however, the upward reversal of the Stochastic does not exclude the continuation of corrective growth, but this is unlikely to lead to a reversal of the current trend.

Resistance levels: 0.3300, 0.3906, 0.4395 | Support levels: 0.2930, 0.2441, 0.1953

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NZDUSD - The pair may fall.

If the assumption is correct, the NZD/USD pair will fall to the levels of 0.6060–0.5910. In this scenario, critical stop loss level is 0.6257.

https://i.ibb.co/DCnzNyT/nzdusd.png

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Amazon.com - The price may grow.

If the assumption is correct, the price of the asset will grow to the levels of 171.15–188.15. In this scenario, critical stop loss level is 102.20.

https://i.ibb.co/FY8c231/amz.png

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Brent Crude Oil: global recession risks increase pressure on the instrument
Brent Crude Oil prices are falling to 101.50 amid investors' fears about the global economy going into recession due to the ongoing military conflict in Ukraine and persistently high inflation in developed countries. Another negative factor for hydrocarbon prices is the discussion by the United States and G7 allies of setting a ceiling price for Russian oil at 40–60 dollars per barrel to reduce energy sales revenues to the Russian Federation's national budget as part of the sanctions policy.

Thus, we can assume that the fall of the trading instrument will continue in the medium term, and the target for sales will be the March low of 98.00.

https://i.ibb.co/bL9ptny/oil-1.png

The long-term trend in the oil market remains upward. The key support for the trend is at 98; after holding it, the growth will continue with the target at the June high. Otherwise, the asset may decline to 91.1 and 86.3.

The medium-term trend is downwards. This week, the target zone 2 (108.93–108.06) was broken, which suggests a further decline in prices towards zone 3 (100.23–99.36). The key resistance of the trend is shifting to 110.16–109.31, from where it is worth considering new short positions.

Resistance levels: 107.75, 119.10, 125.65 | Support levels: 101.50, 98., 91.1

https://i.ibb.co/Qp9TPdq/oil-2.png

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Re: Market Update by Solidecn.com

BTCUSD Technical Analysis

Bitcoin closed slightly above $21,835 this morning. Stochastic and RSI are in overbought zone. Resistance is at $22,515, with a hold of this level the price is expected to decline to $20,000 - $18,629.

https://i.ibb.co/xfnwdyY/btcusd-tech.png

Trading idea
Sell targeting $20,000 - $18,600 | SL: $22,515

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Re: Market Update by Solidecn.com

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XAUUSD - The pair is in correction; the probability of fall is maintained.

If the assumption is correct, the decrease in XAUUSD will continue to the area of 1681.1–1621.9. The level of 1811.8 is critical and stop-loss for this scenario.

https://i.ibb.co/qdPzJDD/gold.png

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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

https://i.ibb.co/HHzpsRK/nzdusd-tech.png

Trading Idea:
Sell targeting 0.6124 | SL: 0.626


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Re: Market Update by Solidecn.com

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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

https://i.ibb.co/SvY93Sv/usdjpy-tech.png

Trading idea
Sell targeting 134.7 - 134.26 | SL: 137

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Re: Market Update by Solidecn.com

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.

https://i.ibb.co/CBGWqzb/oil.png

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

Re: Market Update by Solidecn.com

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EURUSD - The price may grow.

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 1.007.

https://i.ibb.co/MGR2KBK/eurusd.png

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