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Daily Market Analysis by Solid ECN | *Video*

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AUDUSD, the pair may fall.
On the daily chart, the first wave of the higher level (1) of C developed, and a downward correction forms as the wave (2) of C, within which the wave C of (2) forms. Now, the wave of the lower level i of C has formed, a local correction has developed as the wave ii of C, and the wave iii of C is forming.

If the assumption is correct, the AUD USD pair will fall to the levels of 0.6742 ? 0.6446. In this scenario, critical stop loss level is 0.7235.

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#121 - June 15, 2022, 07:09:16 AM

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EUR USD, the market is waiting for the decision of the US Federal Reserve on the interest rate

Today data on inflation in France will be published. According to analysts' forecasts, the consumer price index for May will rise by 0.6%, which will increase the rate by 5.2% YoY after 4.8% a month earlier. Yesterday, it became known that the same indicator in Germany reached a record 7.9%, adding 1.1% over the month. Sharp inflation is putting pressure on key sectors, and today's EU industrial output data will likely reflect continued negative momentum. According to experts' expectations, the value will decrease by 2.0% for April and by 1.1% YoY, which will increase pressure on the European currency.

Quotes of the American currency have consolidated after reaching the year's high, around 105.000 in the USD Index, and the market is waiting for the evening decision of the US Federal Reserve on interest rates. The consensus forecast of analysts suggests an increase in the indicator by the already familiar 50 basis points but after inflation in the United States rose to 8.6%, some experts spoke out for a sharper increase in the value by 75 basis points, which may be a completely justified action by the regulator to convince investors of the seriousness of their intentions. Also, to determine the rate for the current period, the agency will publish a monetary policy forecast for the near future.

Daily Market Analysis by Solid ECN | *Video*  in Technical_eurusd

The trading instrument moves within a narrow downward channel, approaching the support line. Technical indicators strengthen the sell signal: indicator Alligator's fast EMA oscillation range expands downwards, and the AO oscillator histogram formed a down bar after entering the sell zone.

Resistance levels: 1.0498, 1.0776 | Support levels: 1.0353, 1.01

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#122 - June 15, 2022, 09:19:55 AM

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EUR USD, investors expect inflation data in the EU
The European currency is trading with a slight slowdown after yesterday's strong growth, caused by investors' reaction to the wage increase in the EU in the first quarter by 2.70% from 1.50%, but today's data will have a key impact on the dynamics of the instrument. In the middle of the day, Eurostat will publish May's CPI, which estimates inflation, and the monthly increase could be 0.8% against the 0.6% shown in April, and the growth will remain around 8.1% YoY. As for the core consumer price index, which does not consider food and fuel prices, analysts do not expect positive dynamics and expect the value to remain at the April level of 3.8%.

After three days of being near the year's highs, around 105 in the USD Index, Quotes of the American currency reversed downwards and rolled back to 104 against the backdrop of disappointing data on the US labor market. Initial Jobless Claims amounted to 229K, which exceeds the quoted market expectations of 215K, and the total number of citizens receiving payments from the state consolidated at 1.312M compared to 1.309M last week. Investors drew attention to a significant decrease in the index of manufacturing activity from the Philadelphia Fed in June to ?3.3 points from 2.6 points in May.

Daily Market Analysis by Solid ECN | *Video*  in Technical_eurusd

The trading instrument moves within a narrow downward channel, approaching the support line. Technical indicators maintain a global sell signal: indicator Alligator's EMA oscillation range downwards, and the AO oscillator histogram has formed another down bar in the sell zone.

Resistance levels: 1.0630, 1.0778 | Support levels: 1.0377, 1.0151

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#123 - June 17, 2022, 08:43:47 AM

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AUD USD - Technical analysis

H4
On the four-hour chart above the level of 0.6901 there is a "bullish" Engulfing Pattern, which signals a price reversal at the bottom, as well as a Bullish Belt Hold pattern, explaining that the buyers attempted to counterattack, but the "bears" seized the initiative, which became a driver for the decline in instrument quotes. At the moment, the most likely scenario is with an uptrend from the support level of 0.6841 to the resistance area of 0.7048, overcoming which will allow the "bulls" to move higher into the range of 0.7270?0.7581. An alternative scenario may be relevant if the buyers fail to hold the support level of 0.6841: then the price may fall down to the level of 0.6539.

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D1
On the daily chart, there is a formation of a Double Bottom price pattern. An additional signal for a reversal may be the formation of a large Bullish Candle above the support level of 0.6841, which is also a Bullish Belt Hold pattern. Next is the formation of another Bullish Belt Hold pattern, which is similar to the Piercing Pattern of the reversal at the bottom. In the current situation, it is possible to retest the level of 0.6841, from where the instrument may bounce to the resistance level of 0.7048, with its subsequent overcoming and the price recovering to the zone of 0.7270?0.7581.

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Support levels: 0.6841, 0.6693, 0.6539 | Resistance levels: 0.7048, 0.7270, 0.7581

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#124 - June 22, 2022, 07:31:07 AM

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AUD USD - 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 0.7067.

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#125 - June 23, 2022, 06:33:10 AM

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EURTRY: the strengthening of the euro may be temporary

Thus, the Central Bank of Turkey left the discount rate at 14.0% for the seventh month in a row, even despite the continuing increase in inflation in the country, which reached 78.62% and the change in the global trend towards tightening monetary parameters taken by the world financial institutions. At the same time, officials said that the price growth is caused by an increase in the cost of energy, geopolitical risks and non-economic reasons and hope for an improvement in the situation at the beginning of next year. The European Central Bank (ECB), on the contrary, began to take decisive steps in the fight against the unprecedented rise in consumer prices, which led to the strengthening of the position of the single currency. Officials raised rates for the first time in 11 years, and immediately by 50 basis points. The main interest rate is now 0.50%, the margin rate is 0.75%, and the deposit rate is 0.00%. ECB Head Christine Lagarde said that the adjustment of indicators is caused by the rapid pace of inflation, which affects more and more economic sectors, as well as forecasts of further preservation of indicators at high levels. The beginning of the rate hike cycle has strengthened the euro's position against its main competitors, but the positive dynamics may be short-lived, as the European economy continues to experience increased pressure from the Ukrainian crisis and interruptions in energy supplies.

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The price is testing the 17.96, consolidation below which will allow quotes to continue moving to the levels of 17.5781 (the middle line of the Bollinger Bands) and 17.18. The key for the "bulls" is the mark of 18.3593, with a breakout of which growth will be able to resume to the area of 18.75, 19.14. Technical indicators do not give a single signal: the Bollinger Bands are reversing horizontally, the Stochastic is preparing to leave the overbought zone and form a sell signal, and the MACD histogram is increasing in the positive zone.

Resistance levels: 18.35, 18.75, 19.14 | Support levels: 17.96, 17.57, 17.18
#126 - July 24, 2022, 02:18:22 PM

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https://youtu.be/aMmrOHa71qY

The price formed a strong bullish engulfing bar breaking $1.01368 resistance level.

On Friday the price returned down close to $1.01368 and tested this demand zone as a support and then returned back up and broke the $1.02669 resistance level.

Week ahead will show some price fall to the first support at $1.02669 and probably to $1.01368 as a weekly support level.

The $1.03920 is the zone that will confirm an uptrend for the EURUSD after the price broke outside from the downtrend.

#127 - November 12, 2022, 05:24:35 AM
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EURUSD

The EURUSD pair faced negative pressure yesterday to attack 1.0580 level but it keeps its stability above it, and begins today with new bullish bias motivated by stochastic positivity, waiting to head towards our main expected target at 1.0745. Therefore, the bullish trend scenario will remain active as long as 1.0580 level remains intact.

Daily Market Analysis by Solid ECN | *Video*  in Technical_eurusd

The expected trading range for today is between 1.0550 support and 1.0710 resistance.
#128 - December 23, 2022, 08:55:23 AM
« Last Edit: December 23, 2022, 08:57:45 AM by Solid ECN Securities »

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Gold Breaks the Support

Gold price traded with strong negativity yesterday to break the bullish channel?s support line and head towards potential visit to 1776.25 level, making the bearish bias suggested for today, supported by moving below the EMA50. Therefore, we are waiting for more expected decline in the upcoming sessions, noting that breaching 1800 will stop the negative pressure and lead the price to recover again, taking into consideration that the markets might witness mixed trades due to the general weak volumes, caused by the holidays season.

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The expected trading range for today is between 1775 support and 1810 resistance.
#129 - December 23, 2022, 11:19:51 AM

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USDCAD - The price is in a correction and may grow.

On the daily chart, the upward fifth wave of the higher level 5 and the wave (3) of 5 develop. Now, the third wave of the lower level 3 of (3) has formed, a downward correction has ended as the fourth wave 4 of (3), and the wave 5 of (5) is developing, within which the wave i of 5 has formed, and the local correction ii of 5 has ended.

If the assumption is correct, after the end of the correction, the USDCAD pair will grow to the area of 1.3978 ? 1.45. In this scenario, critical stop loss level is 1.3466.

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#130 - December 29, 2022, 07:53:15 AM

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EURUSD keeps its positive stability

The EURUSD pair fluctuates within sideways trades since yesterday, keeping its stability above 1.0580 level, to keep the bullish trend scenario valid for the upcoming period, supported by stochastic move at the oversold areas, waiting to visit 1.0745 as a main target.

Daily Market Analysis by Solid ECN | *Video*  in Technical_eurusd

We remind you that breaking 1.0580 will press on the price to test the most important support at 1.0515 before any new positive attempt. The expected trading range for today is between 1.0560 support and 1.0710 resistance.
#131 - December 29, 2022, 09:57:58 AM

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GBPUSD approaches the resistance

The GBPUSD pair provided temporary positive trades yesterday to approach the key resistance 1.2135, and bounced downwards quickly from there, to resume the correctional bearish track, waiting to test 1.1950 as a next main target. Therefore, we will keep our bearish overview unless breaching 1.2135 and holding with a daily close above it.

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The expected trading range for today is between 1.1940 support and 1.2100 resistance.
#132 - December 29, 2022, 11:46:41 AM

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XAUUSD - A fall is possible.

On the daily chart, a downward correction ended as the fourth wave of the higher level (4), within which the wave C of (4) formed as a momentum, and the fifth wave (5) develops. Now, the first entry wave of the lower level 1 of (5) has formed, within which the wave v of 1 has ended, and a local correction is developing as the second wave 2 of (5).

If the assumption is correct, the XAUUSD pair will fall to the area of 1726.2 ? 1699.25. In this scenario, critical stop loss level is 1833.20.

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#133 - December 30, 2022, 07:13:43 AM

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EURUSD - Trading near the resistance line of the rising corridor

Yesterday, November data on borrowings in the EU countries were presented, which was poor: the volume of loans to enterprises grew by 8.4% instead of the expected 8.6%, and to the private sector ? by 4.1% instead of 4.3%. Today, investors will pay attention to the dynamics of the Spanish consumer price index in December, and, according to analysts' forecasts, the index, harmonized with EU standards, may slow down from 6.7% to 6.0%.

Daily Market Analysis by Solid ECN | *Video*  in Technical_eurusd

On the daily chart, the quotes of the EUR/USD pair show corrective growth and are confidently holding near the resistance line of the ascending corridor. Technical indicators point to continued growth.

Support levels: 1.0574, 1.0396 | Resistance levels: 1.0691, 1.0849
#134 - December 30, 2022, 10:49:45 AM

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EURJPY faces strong negative pressures

The EURJPY pair surrendered to the negative pressures represented by the moving average 55 consolidation near 142.40 resistance in addition to stochastic exit from the overbought areas, to provide chances to get the negative momentum and notice its crawl towards 140.95, to record the first waited negative target.

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We expect to face more negative pressures, to form new negative attack and press on 140.25 level, while breaking it will extend trades negatively towards 139.80 followed by reaching the next main target at 138.20.

The expected trading range for today is between 141.70 and 140.25.
#135 - December 30, 2022, 01:57:41 PM

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