MARKET ANALYSIS

DAILY TECHNICAL ANALYSIS 04/07/2022

AMD has a downtrend since 03/06/2022, has formed a tentative trendline since 28/06/2022. AMD managed to break below R1 and found support at 161.8 of Fibonacci level. Nevertheless, if price don’t break above its trendline might have a retrace until trendline or continue to move towards to the next level.

XAUUSD

Gold for the last month was fluctuating between 1846.784 and 1816.441. Eventually managed to break with a sudden move below that range at the end of the month. Now is just below of that range with an RSI slightly above 50. Investors must focus to see if the price will go back into that range or fail and continue furthermore to the downside.

AAPL

Apple has a downtrend since last April, has a valid trendline since then without any sing to cancel it. In a short-term point of view the price is trapped in a trading range, R1 and S2 levels on the chart. We might see if it will retest its trendline and break below the range or will ignore the current trend and stay trap in this range.

EUR/JPY

EURJPY price broke below R1 and has formed a downtrend trendline. Now it is on a critical level, If the price break above R1 and return to its previous levels we might see price fluctuate between R1 and R1 levels. If the price fails to surpass the R1 level that means the downtrend is still active and we might see the price move further to the downside.