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<b> MARKET</b> ANALYSIS <b> MARKET</b> ANALYSIS

MARKET ANALYSIS

Cutting-Edge Market Commentary for Informed Strategy Making


DAILY TECHNICAL ANALYSIS 30.06.2022


EURUSD


EURUSD moved until 1.0648 and formed a double top formation, broke its neckline, and reach the target of its formation. Since then, it formed a valid downward channel with two touches on the upper boundary and two touches on the lower boundary.

Note: Investors should be focussed to see, if the price continues to be in that channel or if the price breaks above or below this channel. If this happens it will change the whole picture of the analysis.

Critical levels are R1, R2 and S1 on the chart



USDJPY


USDJPY had an uptrend since market opening on Monday. Nevertheless, this morning just broke its trendline, if that break is not a fake out, we might see the price move forward downside.

Critical level is the 61.8 of Fibonacci retracement on the chart which is also an inside support.


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WTI

WTI manage to cancel its tentative trend line and break above S1 level with a full marubozu bullish candlestick. Therefore, WTI now has a correction to retest S1 level to RSI slightly below 50. If the price bounce back on the S1 level, we might see, the price back to the R1 and R2 area. If the price goes down S1, we might see the price return to its trend line.



BTCUSD

BTCUSD hit the lowest price in this year on 18/06 and drop down until 17647, managed to recover until 21719. But today showing that is lost its momentum again, with an RSI on oversold condition at 17.29, broke the 19798.51 level with a solid red candle which now became resistance level.

We might see the prices move lower in the near future and probably around the S1 area.



The information presented above is intended for informative and educational purposes, should not be considered as investment advice, or an offer or solicitation for a transaction in any financial instrument and thus should not be treated as such. Past performance is not a reliable indicator of future results.




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