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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 18/07/2022


EURGBP

EURGBP has too many attempts to break the 0.84853 level with rising momentum.

This is an early indication that the level may be broken.

However, on Friday morning it managed to break this level and form an uptrend trendline.

Now the price is at a critical level, which retests this level and the trend line again.

If the price bounces to S1, we may see the price move further up around R1

If the price fails to bounce and break below S1, we may see the price move further down, holding the previous lows.

AUDJPY

AUDJPY has a valid upward trendline since 12/07/2022.
We might see a healthy correction back to the trendline and a further movement to the upside around 161.8 level.

If the price breaks below the trendline we might see a fluctuation around S1 and 91.95.

ETHUSD

Ethereum had fluctuate between 996.27 and 1279.35 levels from a medium-term view.

On Saturday manged to break above its range with a big upward movement.

RSI keep on the bullish territory almost from Saturday, now it is in an overbought condition at 78.14.


We might see a correction until S1 or the price will continue to reach the next levels around 261.8.


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