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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 08/07/2022





AUDJPY

An update on the previous analysis, AUDJPY managed to break above its range. Price now seems that is retesting that area S2 level. If the price bounces back, we might see a further movement to the upside. If the price returns in range, we might see the price fluctuate between those levels again.


EURUSD


Euro started to weaken against US dollar since first of the year. Today we observe more rare prices such as 1.0095. In a short-term analysis, price managed to form several ranges and sudden breakouts and now is at 161.8 at the Fibonacci level. If the price doesn’t find support at this level, we might see the price go further downside to the next levels.


EURGBP

EURGBP was trading between R1 AND R2 levels and managed to break below R1 and form a tentative trendline. Now the price has a correction and might return back to trendline with an RSI slightly below 50. If the price manages to go near the trendline and find resistance we might see the price go even further to the downside. If the price manages to break above trendline we might see a movement until R1.

BTCUSD

Bitcoin managed to break above its range, made a perfect retest and made new highs. Price now seems that lost its momentum and started a correction phase. If the price bounce back on S1 level or trendline we might see price again back to 22516. If the price fails to bounce back on the trendline we might see the BTC price return back below 20000.




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