GBPUSD - The pair may grow.

If the assumption is correct, the GBP/USD pair will grow to the levels of 1.2674–1.315. In this scenario, critical stop loss level is 1.187.

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Apple - The price may grow.

If the assumption is correct, the price of the asset will grow to the levels of 165.65–183.14. In this scenario, critical stop loss level is 133.60.

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USDJPY Technical Analysis
Bulls are trading the USD JPY above 137, which supports the price now. RSI and Stochastic have left the overbought zone, that lead the market to test 137 support after the break-out. The bullish trend is valid with the price fluctuation above the 50 MA and 137.74 deck. 

Trade idea
Buy at 137.3, Target: Open | SL: 134.26

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USDJPY - The pair may grow.

If the assumption is correct, the USDJPY pair will grow to the levels of 139.5–142. In this scenario, critical stop loss level is 134.69.

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EURUSD - the pair hit an all-time low

The EURUSD pair is actively losing value and yesterday reached a historical milestone, which coincides with a 20-year low at 1 the value of the euro caught with the value of the US dollar against the backdrop of a tense economic situation in the EU, where macroeconomic indicators are declining for the second quarter in a row. Today, statistics from Germany for July will be published, and, according to forecasts, the index of current economic conditions from ZEW may correct to -34.5 points from -27.6 points, and the economic sentiment index risks dropping to 2020 levels around –38.3 points, which puts pressure on the single currency.

The trading instrument is moving within the global downward channel, reaching its support line yesterday. Technical indicators maintain a global sell signal: indicator Alligator’s fast EMA oscillation range expands downwards, and the AO oscillator histogram has formed another down bar in the sell zone.

Resistance levels: 1.015, 1.037 | Support levels: 1, 0.99

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ETHUSD - Murray analysis

The ETHUSD pair is trading within a wide long-term descending channel, however, in the last three weeks the decline has slowed down, and the price has formed a sideways range of 1000 -1250. Currently, the quotes are close to its lower limit, the breakdown of which will allow the downward movement to continue to the levels of 750, 500 (the lower band of the descending channel). With a breakout of 1250, growth will be able to resume to the area of 1500, 1750.

The long-term downward trend in the asset remains, however, to strengthen it, quotes need to break through the current side channel. This may take some more time, which is confirmed by technical indicators illustrating the uncertainty of the market: the Bollinger Bands are horizontal, the MACD histogram is stable in the negative zone, and the Stochastic is directed downwards, but close to the oversold zone, which can become a catalyst for a reversal.   

Resistance levels: 1250, 1500, 1750 | Support levels: 1000, 750, 500

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NZDUSD - The pair may fall.

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 0.6257.

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EURUSD - the euro is held near the parity level with the US dollar
The European currency shows multidirectional trading dynamics, consolidating near the key level of 1.0000, which has not yet been actively tested. The day before, the instrument also traded near the parity level and even tried to fall to the level of 0.9990 for some time; however, the "bulls" quickly regained the lost positions. The euro is certainly receiving strong technical support near this psychological level, but the pressure on the single currency only intensifies as the region's economic outlook deteriorates. The last time the euro traded at parity against the US dollar was in December 2002.

Yesterday's macroeconomic statistics put additional pressure on the positions of the single currency, intensifying talks about a possible recession in the European economy: ZEW Survey on Economic Sentiment fell sharply in July from –28.0 to –51.1 points, while analysts expected a decline to only –32.8 points. In turn, ZEW Survey on Current Situation in Germany over the same period fell from –27.6 to –45.8 points, while the forecast was –34.5 points, and the Economic Sentiment index fell from –28.0 to –53.8 points, which also turned out to be significantly worse than market forecasts at the level of –38.3 points. Today, investors are focused on statistics on the dynamics of consumer prices in Germany in June, as well as May data on the dynamics of industrial production in the eurozone.

Bollinger Bands in D1 chart demonstrate active decrease. The price range is expanding, making way to new record lows for the "bears". MACD is going down preserving a stable sell signal (located below the signal line). Stochastic retains downward direction but is located in close proximity to its lows, which indicates the risks of oversold EUR in the ultra-short term.

Resistance levels: 1.005, 1.01, 1.015, 1.02 | Support levels: 1, 0.995, 0.99

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AUDUSD - Australian dollar develops a weak upward correction

The Australian dollar is showing an uncertain rise, building on the corrective momentum that was formed on Tuesday, July 12, when AUDUSD traded at record lows of June 2020. The instrument is testing the level of 0.677 for a breakout, receiving support from strong macroeconomic statistics from Australia and China. In turn, the growing demand for the US currency prevents the emergence of a more active "bullish" dynamics.

Trade Idea
Sell, TP 0.6710 | SL: 0.6874

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Adobe Systems - technical analysis

On the daily chart of the asset, the formation of a downtrend continues, which may continue after the breakdown of the global year's low at 350. On a four-hour chart, the price forms a local Flag pattern with the boundaries of 360 – 400, which increases the likelihood of a global downward movement after the breakdown of its support line.

Technical indicators reflect a possible continuation of the global decline: indicator Alligator's EMA oscillation range expands downwards, and the histogram of the AO oscillator forms downward bars in the sell zone.

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Crude Oil - the oil market continues to correct

Brent Crude Oil quotes are correcting, trading just above 98, amid serious concerns about falling energy demand due to a new outbreak of coronavirus in China and, as a result, severe restrictions on the movement of citizens.

The market is awaiting the outcome of US President Joe Biden's visit to Saudi Arabia. John Kirby, National Security Council strategic communications Coordinator at the White House, said yesterday that Biden intends to hold meetings with King Salman bin Abdulaziz Al Saud, as well as with Crown Prince Mohammed bin Salman Al Saud. This visit has a specific goal of persuading Saudi Arabia to increase oil production levels, thereby reducing its quotes on the world market. However, experts are sure that it will not be successful for the United States, since the day before it became known that at a recent online summit of the BRICS organization, which includes the Russian Federation and China, the issue of Saudi Arabia's membership in the organization was discussed.

On the global chart, the price is trading below the key level of 100.00. Technical indicators are holding a steady sell signal, which is still strengthening: fast EMAs of the Alligator indicator are moving away from the signal line, and the AO oscillator histogram, being in the sell zone, is forming new descending bars.

Support levels: 96.22, 88.63 | Resistance levels: 100.7, 106

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Crude Oil - The price may fall.

If the assumption is correct, Brent Crude Oil price will fall to the levels of 77.08–62.5. In this scenario, critical stop loss level is 109.83.

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