USDJPY → Weak dollar + intervention = bearish trend ↓FX:USDJPY breaks the 157.7 zone after a small consolidation. Powell's comments about more progressive deflation favor the market, the dollar is falling on this background and the end is not seen yet...
Fundamentally, the weakening dollar and the ongoing interventions of the Central Bank of Japan have quite a strong impact on the exchange rate, but it is worth being careful. Previously, this market reaction was quickly bought out by traders who still have little faith in the continued strength of the JPY.
Technically, if the dollar continues to liquidate, such a strong fall could bring the currency pair down to global lows.
There is a strong liquidity zone ahead. Possible activation of orders in the risk zone, which may provoke a pullback before a further fall or a strong impulse, which without a pullback will knock out all market participants and the price will fly downward
Resistance levels: 157.18, 157.7
Support levels: 154.5, 151.86
At the moment everything is obvious, fundamental and technical nuances are telling about further decline. We should pay attention to the nearest zone of liquidity and price reaction.
Regards R. Linda!
Zigzag
XRP → The moment before “to the moon” ↑BINANCE:XRPUSDT is the strongest of the market. As ETH & BTC fall, ripple is holding quite positively as traders are starting to believe in growth amid rumors...
Ripple CEO recently said that he expects a legal resolution to the situation between the SEC and Ripple “very soon”
Many are speculating that the SEC's closed-door meeting to finalize the case against Ripple could take place today - July 25.
Against this backdrop: Trading volumes are rising, price is hitting local highs, whales are accumulating XRP
Technically, it is worth paying attention to the 0.6378 - 0.5712 range. If breaking the resistance fails, the price may test liquidity below the support before subsequent growth.
Resistance levels: 0.6378, 0.7440
Support levels: 0.5712, 0.5100
If the trial finds its denouement, it will give a second life to the coin. A break of the range resistance - 0.6378 will open a new path....
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Regards R. Linda!
GOLD → There's a chance at the Bullrun. PCE ahead...FX:XAUUSD is testing local channel support and forming a rebound from the liquidity zone. Traders are waiting for PCE data. Favorable inflation data may provide strong support for gold.
Traders are waiting for the PCE, any hints of lower inflation may be viewed quite positively, which will generally increase the chance of interest rate cut in September. As we know, low interest rates make gold more attractive.
Technically, if we pay attention to the D1 chart, gold is testing a conglomeration of strong support: False break of MA-200 + trendline support, as well as bounce from 2350-2355 support level, which means the approximate area of intermediate bottom of the ranyke and forms a global range of 2485 - 2350. But, the fight for 2350 is not over yet.
Resistance levels: 2377, 2392
Support levels: 2370, 2350
Let me remind you that news is unpredictable. Favorable data will influence the possible bull run, but unpredictable ones may provoke sales and price decline to 2350.
But, at the moment of analysis, technical and fundamental nuances point to a bull market, there is a chance of growth to 2400-2430.
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Regards R. Linda!
DOGE → The bulls are overcoming resistance. Trend change?BINANCE:DOGEUSDT is breaking trend resistance and on W1 the bulls have kept the price above the risk zone. Prospects are emerging for a possible rally....
The 0.1-0.05 area is the bottom of the market. Strong accumulation is forming in this area. The price left it back in the spring, but the recent retest showed that the bulls are not ready to let the price beyond 0.106, which generally determines the medium-term prospects.
On D1, the price is breaking the trend resistance of the Wedge pattern, forming a small rally to 0.1437. If the bulls hold their positions and defenses above 0.126 - 0.1200, the market will retain its bullish phase, thus we can soon see a breakout of the local high with a subsequent rise to ATH
Resistance levels: 0.1437, 0.1657
Support levels: 0.126, 0.12
There is no fundamental analysis, but technically there are good prospects. Various services are showing a spike in whale activity in DOGE, which could signal as increased interest. I expect a positive outcome from the bulls with a subsequent rally to the zones of interest
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Regards R. Linda!
GBPUSD → A favorable PCE could resume the bullish trend ↑FX:GBPUSD is forming a counter-trend correction amid the dollar recovery. Ahead of PCE, data may determine the medium-term outlook for the FOREX market
Technically, the market is increasing bets that the PCE may show hints of lower inflation, which will generally increase the chances of a September interest rate cut in the US. This could be negative for the dollar and positive for the currency pair. But no one rules out an unpredictable outcome, against which the currency pair could decline to 1.277
Technically, I would pay attention to the resistance at 1.2894. A consolidation above this zone will confirm the phase of the bull market, against which the price may rise to 1.30 - 1.31.
Resistance levels: 1.2898
Support levels: 1.2850
Fundamentally, things are not so bad. Favorable data can resume the trend after the correction phase, but it is still worth paying attention to the actual PCE figures and only then you can build a medium-term strategy
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Regards R. Linda!
GOLD → Profit taking led to the rally. But it's not all bad... GOLD after the retest of 2430 fell under the selloff, there is no pressure on the price of metal, but the reason may be profit taking amid the selloff in stocks and in anticipation of economic data from the United States.
Traders are waiting for US GDP and Initial Jobless CLaims, which will be released at 12:30 GMT. The data may have a medium-term impact on the market, but the whole focus is on PCE, which will be released on Friday. Investors expect the Fed to deliver its long-awaited rate cut in September. In a low interest rate environment, gold's appeal increases.
If the data on Friday shows that inflation is slowing down, it will be a good sign for gold.
Technically, a correction is forming, with emphasis on 2370, or 2350. Strong support areas that can keep the market from falling.
Resistance levels: 2377, 2392
Support levels: 2370, 2355, 2350
The price stops in the zone of 2370-2377 in general it can give some prerequisites for a rebound. If gold can consolidate above 2377, the price may move into the recovery phase, if not, traders may test the liquidity in 2355-2350 before further growth.
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Regards R. Linda!
GOLD → False breakdown before the bullrun... ↑ FX:XAUUSD reacts perfectly to the 2390-2400 area, forming a false breakdown with subsequent growth to 2420, but I am now confused by the extremely low volatility.... The calm before the storm....
Gold is bullish on D1, while the dollar index is showing signs that the price may continue its decline in the medium term. Today at 13:45 GMT it is worth paying attention to the S&P PMI at 13:45 GMT and Hew Home Sales at 14:00. The data may revitalize the market, but we need to look at the actual numbers.
Technically, gold has a bullish market on H1, but right now I am extremely confused by the very low volatility, which often leads to momentum to one side or the other. Based on the overall situation there is a chance to see a continuation of growth if the bulls hold their defenses above 2400-2405.
Resistance levels: 2420, 2430, 2450
Support levels: 2405, 2400, 2392
The price is gradually updating the highs, forming clear support zones. A possible retest of the liquidity area before the subsequent bullrun to 2430-2450.
It is not excluded that the price can break the structure and give a strong impulse down to 2370, but at the moment of market analysis there are no preconditions for it
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Regards R. Linda!
EURUSD → Change of mood after a false breakout. $ is rising FX:EURUSD on D1 is trading in a strong and neutral sideways movement. SMAs just lay on the horizontal plane, but on H4-H1 a change of market character is forming on the background of growth of the dollar index
Overall, the global neutral trend allows trading without much emphasis on the trend as there is none. The price is moving between the range boundaries, which simplifies the technical analysis.
On H4 the market is changing its mood on the background of the dollar index growth, which in general can lead to the retest of the support zones and the liquidity located behind them.
At the moment the focus is on the lower boundary of the range 1.08-1.082. A retest is possible in the near term, and the liquidity behind the zone could influence a bullish correction before a subsequent drop.
Resistance levels: 1.085
Support levels: 1.0816, 1.08, 1.078
S&P PMI and New Home Sales are published today, it is worth paying attention to the news, as positive news for the US may strengthen the fall of the currency pair, while unpredictable news may affect the market in the opposite way
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Regards R. Linda!
GBPUSD → False breakdown led to the beginning of correctionFX:GBPUSD forms a false breakdown of resistance, which leads to a change in the nature of market movement. At this time, the dollar temporarily changes course and moves to the correction phase.
GBPUSD is globally bullish. After breaking through resistance on D1, the price moves into the correction phase, which was generally logical to expect.
Ahead is the key area on H4 - 1.29 from which a rebound is possible. A reversal pattern is forming locally, but the probability of a trend change is low. In the medium term I expect a correction to 0.5-0.7 fibo with further reversal, but the long-term outlook is bullish. The reason for this movement is the unstable fundamental environment due to the presidential race in the U.S. as well as the politically dependent opinion of the Fed, as well as the forex market movements are beginning to be influenced by Trump's speeches....
Resistance levels: 1.2978
Support levels: 1.290, 1.286, 1.284
Technically, we should wait for a bounce from 1.29 by 10-20% from the current movement with the aim to continue the correction towards the mentioned support zone. Thursday's news supported the dollar, today the general fundamental background remains (no news).
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Regards R. Linda!
ETHEREUM → 4K Target. Waiting for SEC with ETH-ETF ↑BINANCE:ETHUSDT is ending the sell-off phase. Buyers have held a strong support area, forming an intermediate bottom. The liquidity capture led to a rebound, which can move into the phase of the uptrend continuation.
Fundamentally, the main focus is on ETH-ETFs. Earlier traders were positive about the initial rumors of approval, now the important milestone is the admission of ETFs to trading, judging by the feedback and SEC sentiment, this could happen very soon (within 1-2 weeks)
Technically, strong buyers appear in the 2800-2900 zone (judging by candlestick patterns and volume growth), restraining the market from falling and gaining momentum with the purpose of further strengthening (local price movement has a consolidation character).
The trigger area for buyers is 3200. Accordingly, further final consolidation of the price above MA-200 and breakout of 3200 may become the reason for strengthening, the target of which may be 4000-4800.
Resistance levels: 3200, 3357
Support levels: MA-200, 2868
Fundamentally, the situation is positive, traders are waiting for the news from SEC. Technically, on local timeframes there are prerequisites for a bullish mood, on D1 a rebound from strong support is forming. Accordingly, the overall tandem is signaling a possible further rise to 4K.
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Regards R. Linda!
GOLD → Retest of the liquidity area in front of the bullrun ↑ FX:XAUUSD in the correction phase. The market is testing the support and liquidity zone within the counter-trend correction. The dollar may continue its downward phase, which would be a bullish leverage for the gold market
In the week ahead it is worth paying attention to the S&P PMI to be released on Wednesday, GDP and Initial Jobless Claims on Thursday and PCE on Friday.
Trump, as the presidential race progresses, has a growing chance of winning. If that happens, gold and cryptocurrencies will benefit on that backdrop. There is not much news today, so gold may test the liquidity area hiding behind 2390-2400. It is also worth paying attention to the new range of 2492 - 2390. Accordingly, if the bulls hold the defense above the lower boundary of this range, we will get a new trading plane.
Resistance levels: 2411, 2420, 2430
Support levels: 2392, 2386
When trading gold, I recommend to always pay attention to the behavior of the dollar index, as it plays the main role in the market. Accordingly, if the dollar will begin to decline to the support with the purpose of breakthrough, in this case we should expect further growth in the gold market
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Regards R. Linda!
GBPUSD → The correction is coming to an end. Next is 1.310? FX:GBPUSD is in a correction phase testing the liquidity area as well as a strong support level from D1. The correction is news related, but something happened over the weekend that could put selling pressure on the dollar.
Technically GBPUSD is bullish, as evidenced by the update of the highs and the counter-trend correction to the liquidity area.
Yesterday, Biden announced that he was withdrawing from the presidential race, fielding Kamala Harris in his place. Trump's odds are rising in this case, and he has previously hinted that he wants a weaker dollar. Against this background, the DXY may continue its bearish course, which may generally favor the forex market.
Technically, 1.28940 is worth paying attention to. A false breakdown could trigger further growth. But, if the bulls will not let the price to this zone, it will be enough to wait for the price to consolidate above 1.294.
Resistance levels: 1.294, 1.297
Support levels: 1.2894, 1.286
Technically the market is bullish, fundamentally everything is good. Most likely, interested buyers are still in the market, so the pressure for further growth may continue
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Regards R. Linda!
ZENUSDT → Bullish potential in the red market. Break of 10.0 ↑BINANCE:ZENUSDT demonstrates a rally and a retest of the range resistance in the form of a false breakdown, only that does not lead to a fall. The price is forming a pre-breakdown consolidation. With the breakout of 10.0, the growth may continue
On H4, a reversal pattern is forming within the framework of which, while the cryptocurrency market was falling, zen was testing resistance. A false breakout and liquidity capture is formed. This maneuver does not lead to a fall, and the market goes into a state of consolidation, the nature of which resembles a pre-breakdown.
There are no fundamentals, the market follows the flagships, which fall because of some problems. Bitcoin is dragging everyone down due to the sale of a large number of coins by Germany, and the debt repayment by Mt.Gox exchange, which has destabilized the situation in general.
Resistance levels: 9.79-10.0
Support levels: 9.35, 8.8, 8.14
In this case, it is acceptable to use a breakout strategy against resistance at 9.79-9.87. But, if the structure will be broken, the price, in order to increase the volume before the growth may head towards the support.
Regards R. Linda!
USDCHF → A retest of trend resistance. Probable rebound FX:USDCHF strengthened as the Swiss franc went into correction due to the actions of the central bank, which is trying to protect the currency from excessive strengthening.
Technically, the dollar is in the phase of correction, which may stop in the near future and the index may go back to the strengthening phase, but against this background the Swiss franc growth looks stronger, as this currency is considered as a hedge asset, which just in the crisis times was used by investors.
Technically, as long as the structure of the downtrend is not broken and a false break of resistance is formed, I would consider a bounce from the upper boundary of the channel to the zone of interest at 0.8885.
Resistance levels: 0.9010, 0.9050
Support levels: 0.892, 0.885
Bears can hold the resistance of the downtrend. The fundamental backdrop is still the same and in general may be maintained for some time, which may allow us to catch a downward movement to the mentioned target
Regards R. Linda!
GOLD → False breakdown. Will we return to the bullish trend?FX:XAUUSD is entering the correction phase after a false breakdown of trend resistance and the previous ATH. The fundamental background is changed by Thursday's news that supported the dollar.
Overall, the environment on D1 is still bullish. If the price finds a strong support in the near future, for example 2390-2400, this area may get the status of an intermediate bottom, thus forming a new trading range.
There is no news today, thus the fundamental background remains the same. Trading has been complicated lately by the presidential race in the USA. The statements of Powell, politically dependent Fed, Trump can be perceived by traders quite strongly. But the medium-term outlook is determined by the fact that politicians are generally set to lower the dollar, which is generally favorable for gold, which may soon return to the bullish trend phase (locally)
Resistance levels: 2420, 2429, 2450
Support levels: trend, 2402, 2900
Technically, the price may continue the correction to trend support, but due to the pool of liquidity in the area where the price may land within the correction, gold may get a reaction in the form of a bounce to the nearest resistance
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Regards R. Linda!
BBUSDT → The key value of the zone is 0.480BINANCE:BBUSDT does not fall after the false breakdown, but goes into the phase of consolidation. Buyers are resisting. Retest of the key resistance may lead to a breakout and rally.
Fundamentally active recovery is connected with bitcoin rally. The flagship is pulling the cryptocurrency market with it. Technically, the situation is developing in a bullish scenario. It is worth paying attention to the resistance at 0.48.
On D1-H4, the market confirms the bullish market structure and is currently in the correction phase. If buyers continue market consolidation near the resistance and gradually start pushing towards 0.48 resistance, then in this case we should expect a breakdown, price consolidation above the level with further growth towards the mentioned targets.
Resistance levels: 0.48, 0.575
Support levels: 0.45, 0.463
It is not excluded that sellers may hold the resistance, in this case the price may go down to 0.7-0.79 fibo before further growth. But, the focus at the moment is on the resistance 0.48, once it is broken, despite the specific scenario, only then the coin will start an active growth phase.
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Regards R. Linda!
BITCOIN → Fear in the crowd is a bullish sign ↑ Flag and SFPBINANCE:BTCUSD is experiencing times of high fear and negative sentiment among the crowd. From a psychological point of view, this could end in a bullish momentum. But there is always a but!
For now, big buyers are actively holding back a possible fall amid transfers of the previously hacked crypto exchange Mt.Gox to its debtors and BTC sell-offs by German authorities:
Germany will get rid of all its BTC in two days. (at the current pace of sales).
Yesterday, 16,038 BTC were transferred from the country's government wallet to various crypto exchanges and market makers.
Since June 19, 26,071 BTC have been sold.
There are only 23,788 BTC left on the wallet
In April, the average cost of BTC mining among the largest public miners was $53,000, technically, the level of average cost of BTC mining plays the role of an intermediate bottom.
Judging by the growth of volumes and price entry into the area of the lower boundary of the "flag" pattern, buyers appear on the market and at the moment stop the price fall, forming a sideways range of 58500-53500. Accordingly, a breakdown of one of the boundaries may trigger an impulse to one side or the other, based on the technical nuances there is a probability that there will be an attempt to break the resistance.
Resistance levels: 58500, 64000
Support levels: 53500, 53000
Fundamentally, the environment is difficult due to Germany and Mt.Gox, but investors are waiting for the approval of ETH-ETF, which may bring back the bullish mood to the market (indirect impact on BTC).
Technically, the emphasis is on the range. A break of 58500 will give bullish momentum, a break of 53500 may allow the price to decline to the 50500-51000 risk zone
Regards R. Linda!
GOLD → Consolidation before rising to 2500...FX:XAUUSD after breaking through trend resistance is forming a consolidation, just like the dollar. Sellers start selling on indicators and MM may set a trap before further growth.
Technically and fundamentally gold has a favorable environment. The price is in the buying zone and in the ATH zone. There is a lot of support (obstacles) from below, and there is emptiness from above and nothing prevents to go up. There is consolidation on H1 and all technical conditions are favorable for the continuation of growth.
BUT!
There is an interesting pattern forming on H1-M30, which can give a small correction as a trap for sellers before further growth. Now a lot of selling is forming on indicators (overbought, rsi, macd and so on), accordingly, MM may show a reversal.
The whole emphasis is on 2461, If the price fixes below, the gold may be driven to the liquidity zone: 2450, 2440, 2430 before further growth.
Resistance levels: 2475, 2484
Support levels: 2461, 2450
If the price consolidates below 2461, a retest of the support is possible before further growth. If a rebound is formed, consolidation above 2467-2475, we should wait for a retest of resistance with a breakout attempt.
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Regards R. Linda!
GOLD → $2500 is the psychological target. What happens next?FX:XAUUSD is flying upwards after ATH breakout. Powell's comments were positive for the market, which is generally reflected in the dollar and gold. The fundamental and technical background is favorable
Powell's comments about more progressive deflation are favorable for the market, the dollar is falling on this background and there is no end in sight yet. The Feds are considering the situation about prematurely lowering the interest rate without waiting for inflation to fall to 2%. The dollar index is moving into the sell-off phase, which allows gold to update ATH to 2482.
Technically, on H1 resistance is formed at 2482, breakout and consolidation of the price above that level will provoke another rally, within which the price may reach 2500-2525-2550. There is a lot of support, but from above there is emptiness and there are no obstacles. Heated investor interest may lead to a more global ATH.
Resistance levels: 2482, psychological 2500
Support levels: 2463, 2456, 2450
Formation of consolidation before continuation of growth is not excluded. In this case, the price may test the liquidity zone 2463, or imbalance zone located in the area of 2456-2450. But the trigger for the growth continuation will be the break of the indicated resistance.
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Regards R. Linda!
EURUSD → The bulls can take us to 1.100 ↑FX:EURUSD maintains a bullish structure. Ahead is the key resistance from which a pullback may follow before further growth.
On Saturday, there was high-profile news related to the attack on former US President Trump. The markets expected a more violent reaction from the opening, but in general only a small gap was created and it was dealt with rather quickly. Accordingly, the situation is stable. Fundamentally, everything is positive enough with the aim of continuing growth, but today at 16:30 GMT Powell speaks and it is worth to pay attention to his speech.
Technically, the key resistance at 1.0916 is ahead, from which a pullback may follow, as this strong area will not be broken at the first time.
Resistance levels: 1.0916
Support levels: 1.08522
There is a high probability of a rebound from resistance. As part of the correction, the nearest liquidity area may be tested before the subsequent retest of resistance, breakout and growth to 1.10
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Regards R. Linda!
PEPE → A condition that will lead to growth. Is the buyer back?BINANCE:PEPEUSDT is undergoing a deep correction phase. The price is resting on the strong support and the "discount" zone appears the buyer, holding the market. The focus on the upper boundary of the range...
! For convenience, I will indicate key zones without zeros.
Bulls do not let the price below 0.0761, forming a limit support area, in the neighborhood of which a strong buyer appears, it can be determined by the growth of volumes and the pattern of redemption with the subsequent retest without updating the minimum.
At the moment it is not excluded that the coin can continue falling, but based on the general situation there is a chance that PEPE can move into the recovery phase, but provided that the coin can pass the area of 0.0951-0.0991 with the price fixing above this zone, which will generally define an intermediate bottom for the market.
Resistance levels: 0.0952, 0.0991, 0.1084
Support levels: 0.0886, 0.0761
Technically, the situation is complicated because of bitcoin, which is consolidating in the discount zone, but in general there are bullish prerequisites. If the guide (BTC) goes up, it may favor altcoins.
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Regards R. Linda!
GOLD → ATH Testing. Fundamental background is favorable FX:XAUUSD continues to strengthen as the fundamental background improves. A rate cut is coming, as hinted by Powell, the dollar is poised to decline against this backdrop....
According to Powell, the Fed has "more evidence and confidence" that inflation is cooling, so they may cut rates before inflation reaches the 2% target. Traders generally believe in the continuation of the growth of the metal, technically this background is also maintained.
The price is approaching the ATH, but the liquidity behind this zone may push the price back, forming a small correction, for example to 2430-2420 before the price starts to return to 2450 before rising further.
Resistance levels: 2440, 2450
Support levels: 2430, 2420
Fundamentally and technically the background is favorable. It is worth looking for strong zones to open long trades, but it is worth paying attention to ATH, as a false breakdown could form a correction. The growth may continue rather quickly
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Regards R. Linda!
GBPUSD → The bulls are holding their ground. Target 1.29FX:GBPUSD shows bullish outlook ahead of strong news publication. GBPUSD continues to strengthen on the overall fundamental backdrop.
The market is reacting weakly to the resistance area as, against the backdrop of a relatively weak dollar buyers are taking initiative towards GBP. Strong news ahead. Powell speaks again today, tomorrow the UK GDP is published, as well as the US CPI. The news can both strengthen the growth and reverse it.
Technically, the currency pair looks quite bullish. The price consolidation above 1.28 will be a good point for the continuation of the rise to 1.29 and 1.30.
But, the structure will be broken when 1.2775 is broken, in this case we can expect a correction to 1.27 - 1.266.
Resistance levels: 1.28, 1.289
Support levels: 1.2775, 1.2708
Fundamentally and technically everything is positive, I continue to consider further strengthening under a number of conditions described above. The potential target is 1.29
Regards R. Linda!