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Altria Group - The price may fall.

If the assumption is correct, after the end of the correction B of (2), the price of the asset will fall to the levels of 37.22 – 35.08. In this scenario, critical stop loss level is 48.97.


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McDonald - The price may grow.

If the assumption is correct, the price of the asset will grow to the levels of 280 – 295. In this scenario, critical stop loss level is 231.85.

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USD CAD - Technical analysis

H4
On the four-hour chart, in the range of 1.2873–1.3082, there is a long-term consolidation of the asset. A confirmation of the development of the "bullish" impetus is the formation of the Morning Star model at the support level of 1.2873, and the formation of the Hammer candlestick analysis reversal pattern at 1.2933 may serve as the next signal for a possible early start of an upward movement. The combination of these models suggests that buyers are actively strengthening their positions, preventing sellers from dropping the price below the important level of 1.2873. In this situation, a scenario with an uptrend to the resistance level of 1.3082 seems likely, and consolidation above it will allow the "bulls" to move into the range of 1.3419–1.3704. An alternative scenario is possible if the "bears" overcome the level of 1.2873: then the price may drop to the zone of 1.2472–1.2074. D1
On the daily chart, a potential trend continuation price pattern Bull Flag is forming. This was initiated by the formation of the Three Advancing White Soldiers candlestick pattern at 1.2472. At the moment, the uptrend continuation model Rising Three Methods at the level of 1.2933 has been indicated on the chart. Most likely, the asset will head higher to the resistance zone 1.3082–1.3704.

Support levels: 1.2873, 1.2472, 1.2074 | Resistance levels: 1.3082, 1.3419, 1.3704


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USD CHF -The US dollar remains under pressure
The US dollar shows a weak corrective growth, trying to recover from a moderate decline for almost the entire week. USD CHF is testing 0.96 for a breakout, remaining close to the local lows of June 3. The pressure on the positions of the US currency remains against the backdrop of the publication of weak macroeconomic statistics from the US the day before, which reflected a quite expected drop in business activity in the Manufacturing and Services sector in June, which turned out to be noticeably worse than analysts' expectations. At the same time, the Initial Jobless Claims for the week ended June 17 showed a slight decrease from 231K to 229K, which was only slightly higher than the expected 227K.

According to a study by The Wall Street Journal, 44% of experts assess the rapid decline of the US economy over the next year as the most likely scenario against the backdrop of current inflation, which has reached a 40-year high. In January, a similar poll showed a result of 18%. Among the main reasons for a possible recession are problems in supply chains, the rapid rise in prices for raw materials, as well as geopolitical tensions caused by the escalation of the military conflict in Ukraine. The negative scenario was also confirmed by Cleveland Fed President Loretta Mester, who noted that the return of the Consumer Price Index to the target level of 2.0% would be a slow process.

Today, investors will focus on statistics from the US on the dynamics of New Home Sales in May, as well as the Michigan Consumer Sentiment Index for June. No noteworthy statistics are expected in Switzerland today, but market participants are closely following the ongoing EU summit, which, among other things, discusses new measures of pressure on Russia in connection with a special military operation in Ukraine. On the D1 chart Bollinger Bands are reversing into the descending plane. The price range is expanding, while remaining spacious enough for the current activity level in the market. MACD is going down preserving a stable sell signal (located below the signal line). Stochastic, being in the oversold area, is trying to reverse upwards, which can be interpreted as a signal to corrective growth of USD in the ultra-short term.

Resistance levels: 0.9618, 0.97, 0.9762, 0.9847 | Support levels: 0.954, 0.9459, 0.94, 0.93


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EURUSD - The pair may fall.
If the assumption is correct, the EURUSD pair will fall to the levels of 1.0300–1.0200. In this scenario, critical stop loss level is 1.0608.


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EURUSD Surpasses the resistance
The EURUSD pair closed last Friday above 1.0550 level, to activate the bullish trend scenario on the intraday basis, organized inside the bullish channel that appears on the chart, waiting for positive trades in the upcoming sessions that target 1.0670 areas mainly.

Therefore, the bullish bias will be suggested for today, noting that breaking 1.0550 followed by 1.0525 levels will stop the positive scenario and press on the price to turn to decline.

The expected trading range for today is between 1.0500 support and 1.0640 resistance.

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GBPUSD - The pair may fall.

If the assumption is correct, the GBP/USD pair will fall to the levels of 1.1750–1.1550. In this scenario, critical stop loss level is 1.2412.


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Apple - The price may grow.

If the assumption is correct, the price of the asset will grow to the levels of 165.65–183.14. In this scenario, critical stop loss level is 129.12.

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EURUSD Surpasses the resistance
The EURUSD pair closed last Friday above 1.0550 level, to activate the bullish trend scenario on the intraday basis, organized inside the bullish channel that appears on the chart, waiting for positive trades in the upcoming sessions that target 1.0670 areas mainly.

Therefore, the bullish bias will be suggested for today, noting that breaking 1.0550 followed by 1.0525 levels will stop the positive scenario and press on the price to turn to decline. The expected trading range for today is between 1.0500 support and 1.0640 resistance.

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The EURGBP tests the resistance

The EURGBP pair formed correctional bullish rally to test the major resistance at 0.8720 followed by bouncing negatively towards 0.8580, to confirm keeping the domination of the bearish bias for the upcoming trading.

We notice the price attempt to crawl below the moving average 55, also, stochastic begins to provide the negative momentum to assist to renew the negative attempts, to expect reaching 0.8510 followed by targeting 38.2% Fibonacci correction level near 0.8410.

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EURJPY gets new negative momentum

The EURJPY pair kept its negative stability below 144.25 resistance, to reinforce the chances of forming correctional bearish trades in the near term and medium term period, while stochastic exit from the overbought areas allows us to gather the negative momentum to ease the mission breaking 141.5 obstacle and attempt to reach the first main target at 140. The expected trading range for today is between 143.1 and 140.9.

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XAG USD - The pair may fall.

If the assumption is correct, the XAG USD pair will fall to the levels of 18.4–15.6. In this scenario, critical stop loss level is 22.

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USD JPY -The pair may grow.

If the assumption is correct, the USD JPY pair will grow to the levels of 138.5–142. In this scenario, critical stop loss level is 131.4.


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PayPal - The price may fall.

If the assumption is correct, after the end of the correction, the price of the asset will fall to the levels of 50–25. In this scenario, critical stop loss level is 189.95.
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The USDCHF pair reached few pips away from our waited target at 0.9525, and continues to move inside the intraday bearish channel that appears on the chart, which supports the chances of surpassing the mentioned level and open the way to achieve negative targets that extend to 0.9400.

Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 0.9630 and hold above it. The expected trading range for today is between 0.9500 support and 0.9600 resistance.

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AUD USD - The pair may fall.

On the daily chart, the first wave of the higher level (1) of C developed, and a downward correction forms as the wave (2) of C, within which the wave C of (2) forms. Now, the wave of the lower level i of C has formed, a local correction has developed as the wave ii of C, and the wave iii of C is forming, within which the wave (iii) of iii is developing.

If the assumption is correct, the AUD USD pair will fall to the levels of 0.6446–0.6082. In this scenario, critical stop loss level is 0.7048.

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NZDUSD - The pair may fall
On the daily chart, the upward wave of the higher level (А) of B formed, and a downward correction develops as the wave (B) of B, within which the wave C of (B) forms. Now, the third wave of the lower level iii of C has formed, the correctional wave iv of C has developed, and the fifth wave v of C is forming, within which the wave (iii) of v is developing.

If the assumption is correct, the NZDUSD pair will fall to the levels of 0.6060 – 0.5910. In this scenario, critical stop loss level is 0.6330.

Attached Image (click to enlarge)

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The EURJPY settles below the high
No change to the EURJPY pair’s correctional bearish track, fluctuating below 144.25 recorded high, to notice crawling towards 142.80 to reinforce the chances of resuming the previously suggested correctional bearish attack. We remind you that breaking the initial support at 142.20 will force it to suffer more losses that reach 140.90 followed by 140. The expected trading range for today is between 143.70 and 142.20

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USDCAD, H4
On the four-hour chart, at the support level of 1.2838, a Morning Star candlestick analysis pattern is forming, signaling a possible reversal of quotes towards resistance at 1.3039, and now there is a Rising Three Methods pattern. In the current situation, a possible scenario is the uptrend of quotations to 1.3039, consolidation above which will allow the "bulls" to head higher to the range of 1.3200–1.3411. An alternative scenario is likely if the "bears" overcome the key support level for buyers at 1.2838; then the price may go lower, to the area of 1.2640–1.2404. USDCAD, D1
On the daily chart, a Bull Flag price pattern is forming, which is currently probably in the process of completing the formation of the Flag itself, from which an impulse upward movement should follow. The downward consolidation of the asset is accompanied by the construction of the Falling Three Methods trend continuation pattern at the level of 1.2979. In addition, the previous candle below 1.2898 formed a Long-Legged Doji pattern, which is a sign of pressure from both "bears" and "bulls", but its appearance at the top still indicates the supremacy of the sellers. A likely reversal point in this situation is the support level at 1.2838, from where the price can recover with an impulse movement up to 1.3039, the overcoming of which will allow buyers to move higher to the resistance zone of 1.3200–1.3411.

Support levels: 1.2838, 1.2640, 1.2404 | Resistance levels: 1.3039, 1.3200, 1.3411.

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EURUSD Confirms the Break
The EURUSD pair ended yesterday below 1.0550 level, which puts the price under more expected negative pressure in the upcoming period, on its way to head towards 1.0440 followed by 1.0355 as main negative targets.

Moving below the EMA50 supports the expected decline, which will remain valid unless breaching 1.0550 and holding above it again. The expected trading range for today is between 1.0450 support and 1.0590 resistance.

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