MARKET DAILY ANALYSIS 01.07.2022

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S&P 500

An update on our previous analysis, S&P just broke its tentative trend line and S1 support. Now the S1 convert to R1, as you can see broke below that level with gap and now is retesting it. Investors must focus on the price movement now because we might see the price go lower.

NIO

NIO has an uptrend since 12 of May, trendline here is valid based on theory with 3 touches. Investor must focus on this crucial moment because the price is near the trendline. If the price respect its trend, we might see the price move upward around the 1.618 level of Fibonacci. If the price fails to continue and break below trendline and S1, most probably this short term trend is over and we might see price go lower.

AUDJPY

AUDJPY is in a downward range since 06/06/2022, price mange to touch again the upper boundary of channel and started moving to the downside. Price broke the S1 level with a solid red candle. Critical levels are R2 and lower boundary of channel. If the price manages to break below S2 then it might move towards the lower boundary.

NZDUSD

NZDUSD was trading between 0.6328 and 0.62463 since 22/06/2022. Price found resistance on R2 and retreated until R1, eventually managed to break below R1 and retest it. On that retest of level R1 it has formed a tentative trendline and price moved lower to the 161.8 level. Investors must focus on that level. Price might find support on that level and return to trendline or might surpass that level and go for the next low.