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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 22/08/2022

AUDUSD

AUDUSD has been trading sideways since July. The price formed a bearish trend last week, since then it managed to find support at the lowest support level of the range and break its trend line with a rising RSI.

If the price manages to stay above the 0.68713 level, we may see the price return to the upper resistance level around 0.71416.



DJ30

The Dow Jones has been trending up since July which is respectable to its 3-touch trend line.

Yesterday price failed to sustain this trend and broke below the trend line with a significant gap.

If the break was valid, we might see a corrective wave up to around  61.8 level on the chart.


BTCUSD

An update to the BTCUSD, Price broke R1 with a large solid red candle, but found support in the medium-term trend line.

If the price bounces off the trendline, we may see the price move around the R1 and R2 levels.

If the price breaks below the trend line, we may see the price go further to the downside.




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