Solid ECN | Professional Market Analysis | *Video*

SOLIDECN

Experienced member
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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%).

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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.

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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​
 

SOLIDECN

Experienced member
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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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SOLIDECN

Experienced member
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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.

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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​
 

SOLIDECN

Experienced member
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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.

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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.​
 

SOLIDECN

Experienced member
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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.

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

SOLIDECN

Experienced member
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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.

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The expected trend for today: Bearish.​
 

SOLIDECN

Experienced member
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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.

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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​
 

SOLIDECN

Experienced member
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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.

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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

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SOLIDECN

Experienced member
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USDCAD Hit the first target​

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.

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The expected trend for today: Bearish.​
 

SOLIDECN

Experienced member
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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.

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The expected trend for today: Bearish.​
 

SOLIDECN

Experienced member
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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

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The expected trend for today: Bearish
 

SOLIDECN

Experienced member
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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.

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The expected trend for today: Bearish.​
 

SOLIDECN

Experienced member
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3M Co - technical analysis

The shares of 3M Co., an American diversified innovative manufacturing company, traded in a downtrend around 129. On the daily chart, the price is holding in a stable downwards channel with dynamic boundaries 108.00–138.00 and, reversed around at the resistance line, is heading towards support, having renewed the next year's low at 126.

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On the four-hour chart, it can be seen that this level coincides with the initial trend of 61.8% for the Fibonacci expansion, the breakdown of which will mean continued global sales with the target at 100.0% for the Fibonacci expansion in the support line of the channel 109. The likely decline is confirmed by the readings of technical indicators that have reversed long ago and keep a stable sell signal: fast EMAs on the Alligator indicator are significantly below the signal line, and the AO oscillator histogram forms bars with a downward trend in the sell zone.​
 

SOLIDECN

Experienced member
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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.

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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​
 

SOLIDECN

Experienced member
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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.

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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

Experienced member
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USDJPY: market uncertainty persists
The long-term uptrend in the pair will continue, despite the slowdown in price growth in the last few weeks. The key for the "bulls" is the resistance zone 136.70-137.50, the breakout of which will give the prospect of further upward dynamics to 139.06, 140.62. If the price consolidates below the middle line of the Bollinger Bands around 135, the decline will continue to the levels of 132.8 and 131.25.

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Resistance levels: 137.50, 140.62, 143.75 | Support levels: 135.00, 132.80, 131.25​
 

SOLIDECN

Experienced member
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Gold offers a good buy price.

The yellow metal is trading around $1,742 and above the support level at $1,720. The price bounced off this level 3 times during the last trading year. Considering RSI is in the oversold zone, we expect the gold price to increase in the upcoming weeks.

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Support: $1,720 - $1,710 | Resistance: $1,760 - $1,780​
 

SOLIDECN

Experienced member
5.png

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

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Trading Idea:​

Sell targeting 0.6124 | SL: 0.626​
 

SOLIDECN

Experienced member
5.png


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

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Trading idea
Sell targeting 134.7 - 134.26 | SL: 137​
 

SOLIDECN

Experienced member
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Cisco Systems - technical analysis​

The shares of Cisco Systems Inc., the largest manufacturer and supplier of network equipment for holdings and telecommunications companies, are correcting around 43. On the daily chart of the asset, the price is moving within a global downward channel with dynamic boundaries of 32–44, having reached the resistance line yesterday after an unsuccessful attempt to overcome the annual low of 41.

On the four-hour chart, the local movement within the channel is clamped into a Triangle pattern, the upper limit of which coincides with the global range resistance line at 44, which the quotes will try to break and reach the beginning of the price gap of May 18 around 47.8.

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Technical indicators remain in the state of a sell signal, although indicator Alligator’s EMA oscillation range has begun to narrow, and the AO oscillator histogram is forming upward bars in the sell zone.​
 
 
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