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Silver - Growth is possible.​

On the daily chart, a downward correction of the higher level developed as the second wave (2), within which the wave C of (2) formed and the development of the third wave (3) started. Now, the first entry wave of the lower level i of 1 of (3) is developing, within which the wave (iii) of i has ended, and a local correction is developing as the wave (iv) of i.

If the assumption is correct, the XAGUSD pair will grow to the area of 22.47 – 25.40. In this scenario, critical stop loss level is 17.97.

 

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USDTRY - High inflation puts pressure on lira positions​

Technically, the price is close to 18.75 (Murray [8/8]), the breakout of which will give the prospect of further growth in the area of 19.14 (Murray [+1/8]) and 19.53 (Murray [+2/8]). The key for the "bears" is the level of 18.35 (the middle line of the Bollinger Bands, Murray [7/8]), the breakdown of which can become a catalyst for downward dynamics to the levels of 17.96 (Murray [6/8]), 17.57 (Murray [5/8]).
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Resistance levels: 18.75, 19.14, 19.53 | Support levels: 18.35, 17.96, 17.57​

 

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EURUSD Technical Analysis​

The EURUSD pair touched 0.97 level and attempts to break it, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, reminding you that breaking this level will push the price to 0.9550 as a next main station, while the expected decline will remain valid unless the price rallied to breach 0.9790 and hold above it.

The expected trading range for today is between 0.9650 support and 0.9800 resistance.

The expected trend for today: Bearish​

 

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GBPUSD Technical Analysis​

The GBPUSD pair completed forming head and shoulders’ pattern that appears on the chart, thus, the chances are valid to provide more negative trades in the upcoming sessions, and the targets begin by surpassing the waited target at 1.1015 to reach 1.0845 as a next negative station.

Therefore, the bearish trend scenario will remain valid and active for the upcoming period, taking into consideration that breaching 1.1186 will stop the current negative pressure and lead the price to turn to rise.

The expected trading range for today is between 1.0990 support and 1.1150 resistance. The expected trend for today: Bearish​

 

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EURUSD - A fall is possible.​

On the daily chart, the downward wave of the higher level А develops, within which the fifth wave (5) of А forms. Now, the fifth wave of the lower level 5 of (5) is forming, within which the formation of the local correction as the wave iv of 5 of (5) has ended and the development of the wave v of 5 of (5) is going.

If the assumption is correct, the EURUSD pair will fall to the area of 0.9470–0.9300. In this scenario, critical stop loss level is 0.9997.

 

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GBPUSD - A fall is possible.​

On the daily chart, the fifth wave of the higher level (V) forms, within which the wave V of (V) develops. Now, the fifth wave of the lower level (5) of V is developing, within which the wave 3 of (5) has formed, a local correction has ended as the wave 4 of (5), and the development of the wave 5 of (5) has started.

If the assumption is correct, the GBPUSD pair will fall to the area of 1.02 – 1. In this scenario, critical stop loss level is 1.1501.

 

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NZDUSD Technical Outlook​

The NZDUSD pair provided more negative trades to touch our second target at 0.5564 and presses negatively on it, in attempt to confirm breaking it now, reinforcing the expectations of extending the bearish wave on the intraday and short term basis, waiting to test 0.5500 as a next target.

The EMA50 keeps pressing negatively on the price to support the continuation of the expected bearish trend scenario, noting that holding below 0.5610 is important to continue the suggested decline. The expected trading range for today is between 0.5480 support and 0.560 resistance

The expected trend for today: Bearish​

 

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USDCAD Technical Outlook​

The USDCAD pair succeeded to touch our waited target at 1.383 now, providing positive trades that support the chances of surpassing this level to head towards achieving more bullish bias in the upcoming sessions, noting that our next target extends to 1.39.

The bullish channel organizes the suggested bullish wave, which will remain valid conditioned by the price stability above 1.376. The expected trading range for today is between 1.376 support and 1.391 resistance.

The expected trend for today: Bullish​

 

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USDCAD Technical Outlook​

The USDCAD pair succeeded to touch our waited target at 1.383 now, providing positive trades that support the chances of surpassing this level to head towards achieving more bullish bias in the upcoming sessions, noting that our next target extends to 1.39.

The bullish channel organizes the suggested bullish wave, which will remain valid conditioned by the price stability above 1.376. The expected trading range for today is between 1.376 support and 1.391 resistance.

The expected trend for today: Bullish​

 

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Gold Technical Outlook​

Gold price continued to decline to surpass our first target at 1673 and reach the extended target at 1660, and we expect the continuation of the negative pressure to break the last level and open the way for more decline on the intraday basis, to head towards visiting 1645 followed by 1630 levels as next negative stations.

Therefore, the bearish trend scenario will remain active for the upcoming period, noting that breaching 1686.4 will stop the current negative pressure and lead the price to recover again. The expected trading range for today is between 1640 support and 1680 resistance.

The expected trend for today: Bearish​

 

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USDCHF Technical Outlook​

The long-term trend remains upward. Yesterday, the traders broke through the resistance level of 0.995, which opens up the target for buyers around the June high of 1.0040. If it is broken, the next target will be 1.0120. If the price returns below the resistance level of 0.9950, a correction is likely with the nearest target at 0.9840.

The medium-term trend is up. Last week, quotes overcame target zone 3 (0.9903–0.9890), and the target for purchases for this week was zone 4 (1.0049–1.0034). Today, the traders renewed the high around 1.002, and a correction is developing. If within its framework, market participants test the key trend support 0.9876–0.9862, then new long positions from today's high at 1.002 should be considered.

Resistance levels: 1.004, 1.012 | Support levels: 0.994, 0.984​

 

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USDCAD - Growth is possible.​

On the daily chart, the fifth upward wave of the higher level 5 develops, within which the wave (1) of 5 formed, the correctional wave (2) of 5 ended, and the wave (3) of 5 develops. Now, the third wave of the lower level 3 of (3) is developing, within which a local correction has ended as the fourth wave iv of 3, and the development of the wave v of 3 has started.

If the assumption is correct, the USDCAD pair will grow to the area of 1.41 – 1.43. In this scenario, critical stop loss level is 1.3507.

 

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NZDUSD presses on the support​

The NZDUSD pair resumes its negative trading to press on 0.5564 level again, waiting for confirmed break to open the way to head towards our next target at 0.55. The technical indicators provide negative signals that support the continuation of the expected decline, which will remain valid conditioned by the price stability below 0.5640.

The expected trading range for today is between 0.55 support and 0.5615 resistance, and the expected trend for today is Bearish.​

 

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EURUSD Ends the Temporary Rise​

The EURUSD pair bounced downwards clearly after the temporary rise that it witnessed yesterday, as the EMA50 (BOA middle bankd) formed solid resistance barrier against the price, to start pressing on 0.9670 level again, which keeps the bearish trend scenario active on the intraday basis, waiting to visit 0.9630 (Fibo 78.6) followed by 0.9550 levels as next main targets. Stochastic provides negative signal that supports the continuation of the expected decline, which will remain valid conditioned by the price stability below 0.9790.

The expected trading range for today is between 0.9600 support and 0.9760 resistance. The expected trend for today is Bearish.​

 

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USDCHF - Growth is possible.​

On the daily chart, a downward correction ended as the second wave of the higher level 2, and the formation of the upward third wave 3 started, within which the wave (1) of 3 develops. Now, the fifth wave of the lower level 5 of (1) is forming, and the wave iii of 3 is developing.

If the assumption is correct, the USDCHF pair will grow to the area of 1.02 – 1.03. In this scenario, critical stop loss level is 0.9716.

 

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USDJPY surpasses the target​

The USDJPY pair opens today’s trading with clear positivity to breach 145.9 level and attempts to hold above it, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis, waiting to visit 147 as a next main target. The EMA50 (BB Middle line) keeps supporting trading inside the bullish channel that appears on the chart, noting that breaking 145.9 and holding below it might press on the price to achieve some temporary bearish correction before any new attempt to rise.

The expected trading range for today is between 145.6 support and 147 resistances. The expected trend for today: Bullish​

 

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EURUSD builds bearish channel​

The EURUSD pair continues to fluctuate around 0.97 level, and finds difficulty to confirm breaking it, noticing that the price moves inside intraday bearish channel that supports the chances of continuing the expected bearish wave for the upcoming period, which targets 0.963 followed by 0.955 levels as next main stations.

In general, we will continue to suggest the bearish trend unless breaching 0.9790 level and holding above it, noting that stochastic loses its positive momentum now to support the chances of resuming the suggested decline.

The expected trading range for today is between 0.96 support and 0.976 resistance. The expected trend for today: Bearish​

 

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EURUSD builds bearish channel​

The EURUSD pair continues to fluctuate around 0.97 level, and finds difficulty to confirm breaking it, noticing that the price moves inside intraday bearish channel that supports the chances of continuing the expected bearish wave for the upcoming period, which targets 0.963 followed by 0.955 levels as next main stations.

In general, we will continue to suggest the bearish trend unless breaching 0.9790 level and holding above it, noting that stochastic loses its positive momentum now to support the chances of resuming the suggested decline.

The expected trading range for today is between 0.96 support and 0.976 resistance. The expected trend for today: Bearish.​

 

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NZDUSD Awaits New Declines​

The NZDUSD pair provided slight positive trades yesterday to test 0.56 barrier, noticing that stochastic begins to provide negative signals now, waiting to motivate the price to resume the bearish wave that its targets begin by breaking 0.5564 to open the way to visit 0.55.

The EMA50 (BB middle line) supports the expected decline, which will remain valid unless the price rallied to breach 0.564 followed by 0.5705 levels and hold above them. The expected trading range for today is between 0.553 support and 0.5640 resistance. The expected trend for today: Bearish.​

 

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USDCAD Within Positive Pattern​

The USDCAD pair’s recent trades are confined within bullish pennant pattern, thus, breaching 1.3855 will activate the positive effect of this pattern and push the price to resume the main bullish wave, to open the way to rally towards our next main target at 1.3900.

Therefore, the bullish trend scenario will remain valid and active for the upcoming period, supported by the EMA50 (BB Middle band), taking into consideration that the continuation of the bullish wave requires holding above 1.3700. The expected trading range for today is between 1.3760 support and 1.3900 resistance.

The expected trend for today: Bullish.​