Free Market Updates by Solidecn.com

NZDUSD Technical Analysis
The pair is trading in the descending channel for the last 3 weeks. The downtrend scenario is valid as long as the bears can keep the price within the channel line and below the 50 moving average.

Support: 0.6124 | Resistance: 0.6195 - 0.6251

Trading Idea
Sell targeting 0.6124 | SL: 0.626
----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

The currency pair is trading sideways below 137. Bears are struggling with breaking the 50 MA which supports the continuation of the bullish trend. Considering the MACD divergence breaking the 134.74 will add pressure on the price to decline toward 131.49 before any new attempt to rise.

Support: 134.74 - 131.49 | Resistance: 137

Trading idea:
Sell targeting 134.7 - 134.26 | SL: 137
----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

USDJPY Technical Analysis

The currency pair is trading sideways below 137. Bears are struggling with breaking the 50 MA which supports the continuation of the bullish trend. Considering the MACD divergence breaking the 134.74 will add pressure on the price to decline toward 131.49 before any new attempt to rise.

Support: 134.74 - 131.49 | Resistance: 137

Trading idea:
Sell targeting 134.7 - 134.26 | SL: 137 ----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

USDCAD Technical Analysis

The pair bounced from the June high (1.3083) and couldn't get much lower than the early July high (1.2966 - 1.2953). Stochastic is exiting the oversold zone giving the continuation of the bullish trend. In the scenario, the pair will target 1.3083 and above.

Support: 1.2953 - 1.2819 | Resistance: 1.3083

Trading idea
Buy targeting 1.30835 | SL: 1.2953
----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

BTCUSD Technical Analysis

Bitcoin closed slightly above $21,835 this morning. Stochastic and RSI are in overbought zone. Resistance is at $22,515, with a hold of this level the price is expected to decline to $20,000 - $18,629.

Trading idea
Sell targeting $20,000 - $18,600 | SL: $22,515

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

EURUSD - The price may grow.

If the assumption is correct, the EURUSD pair will grow to the levels of 1.0612–1.0787. In this scenario, critical stop loss level is 1.007.
----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

GBPUSD - The pair may grow.

If the assumption is correct, the GBP/USD pair will grow to the levels of 1.2674–1.315. In this scenario, critical stop loss level is 1.187.
----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

XAUUSD - gold stays at record lows
Gold positions came under pressure on Friday amid the publication of a stronger report on the US labor market: the Unemployment Rate remained at 3.6%, while Employment Change rose by 372 thousand, well ahead of the projected 268 thousand, which allows investors to hope for continued tightening of monetary policy by the US Federal Reserve. According to the CME FedWatch indicator, more than 92% of traders are confident in the "hawkish" rhetoric at the next meeting of the regulator, as well as in the adjustment of the value by 75 basis points at the end of this month.
Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is expanding, making way to new record lows for the "bears". MACD is going down, keeping a fairly stable sell signal (located below the signal line). Stochastic has reached its lows and is trying to reverse upwards, indicating risks of oversold instrument in the ultra-short term.

Resistance levels: 1752.87, 1775, 1784.31, 1800 | Support levels: 1730, 1720, 1700

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

Cisco Systems - technical analysis
The shares of Cisco Systems Inc., the largest manufacturer and supplier of network equipment for holdings and telecommunications companies, are correcting around 43. On the daily chart of the asset, the price is moving within a global downward channel with dynamic boundaries of 32–44, having reached the resistance line yesterday after an unsuccessful attempt to overcome the annual low of 41.

On the four-hour chart, the local movement within the channel is clamped into a Triangle pattern, the upper limit of which coincides with the global range resistance line at 44, which the quotes will try to break and reach the beginning of the price gap of May 18 around 47.8. Technical indicators remain in the state of a sell signal, although indicator Alligator’s EMA oscillation range has begun to narrow, and the AO oscillator histogram is forming upward bars in the sell zone.

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

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 133.60.

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

USDCAD - Technical analysis

H4
On the 4-hour chart, there is a downtrend in a short-term "bearish" trend, which is confirmed by a series of Three Black Crows patterns at the level of 1.3036. Currently, an Engulfing pattern has formed at 1.2932, which includes a Shooting Star candlestick. The combination of these figures signals the systematic pressure of sellers. The most likely scenario is a decline to the support level of 1.2932, overcoming which will allow the "bears" to strengthen the downtrend up to the level of 1.2534, while fixing the price above the resistance level of 1.3036 will allow the "bulls" to continue moving towards the area of 1.3118–1.3323.
D1
A Double Top price pattern has formed on the daily chart. In addition, an Evening Star reversal pattern formed at the resistance level of 1.3036, after which a Shooting Star pattern appeared, which strengthens the "bearish" mood in the market. In the current situation, the scenario with the decline of the asset to the support zone of 1.2932–1.2534 seems more likely. If the "bulls" still manage to hold the key support level of 1.2857, where the Neck line of the Double Top price pattern passes, buyers will have the opportunity to restore quotes back to the range of 1.3036–1.3323.
Support levels: 1.2932, 1.2857, 1.2737, 1.2534 | Resistance levels: 1.3036, 1.3118, 1.3323

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

BTC USD - monetary pressure on the token may continue

The cryptocurrency sector remains under pressure due to the tightening of the US Federal Reserve's monetary policy and the industry's general problems associated with a significant decrease in the capitalization of market leaders. Investors reacted negatively to the June data of the US labor market, believing that they would remove the last concerns of US Federal Reserve officials and force them to increase the rate again by 75 percentage points, which will lead to additional strengthening of the dollar. In public speeches, representatives of the crypto-currency community are trying to calm each other, stating that the current "crypto winter" will play in favor of the market but this looks like an attempt to find at least something good in the current difficult situation for the sector.
The potential for a further decline in digital assets will remain. The trading instrument is testing the middle line of Bollinger Bands 20500 but the key "bearish" is 18750, the breakdown of which allows further decline to 15625 and 12500 and 10000.00. The breakout of 21875 (the upper line of Bollinger bands) allows growth to 25000(Fibonacci correction 23.6%), 28125.

Resistance levels: 21875, 25000, 28125, 31250 | Support levels: 18750, 15625, 12500, 10000

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

Microsoft - The price may grow.

If the assumption is correct, the price of the asset will grow to the levels of 316.2–350.4. In this scenario, critical stop loss level is 241.
----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

Verizon Communications - technical analysis

On the daily chart of the asset, the quotes are trading below the global channel 51–56 and completing the reverse test of the range support line passed. On the four-hour chart, it is clearly seen that corrective growth is developing in the form of a Triangle pattern. Inside the figure, the price has reached the support line at 50 and is preparing to reverse upward, which, in turn, will signal the end of the correction and the continuation of the global decline with the target around 45.5. Nevertheless, the readings of technical indicators reflect the continuation of local growth: fast EMAs on the Alligator indicator are above the signal line, and the AO oscillator histogram is trading in the buying zone.

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

Nasdaq 100 - the US stock market continues to decline

At the end of last week, it became known that the head of the electric car company Tesla Inc. Elon Musk is pulling out of a 44 billion dollar deal to buy Twitter Inc. after the latter failed to provide previously requested reports on the number of fake accounts on the platform. In addition, the management of Twitter Inc. announced plans to cut up to 30% of its HR staff due to growing business problems, and company Chairman Bret Taylor said management plans to sue to enforce the merger agreement. Against this background, shares of Twitter Inc. decrease by 4.2%.

Additional pressure on the US stock market is also exerted by the situation in the domestic bond market, the yield of which again began to rise sharply: the rate on the popular 10-year US Treasuries rose to 3.086% from 2.810% at the end of last week, and on the conservative 20-year securities the yield rose up to 3.516% from 3.326%; while the yield on global 30-year debt securities rose to 3.252% from 3.049%. Index quotes continue to form a global downward channel, declining along the support line. Technical indicators are in a sell signal state: fast EMAs on the Alligator indicator are holding below the signal line despite the sharp narrowing of the range, and the AO oscillator histogram is still trading in the sell zone.

Support levels: 11460, 11100 | Resistance levels: 11800, 12200

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

USDJPY Technical Analysis
Bulls are trading the USD JPY above 137, which supports the price now. RSI and Stochastic have left the overbought zone, that lead the market to test 137 support after the break-out. The bullish trend is valid with the price fluctuation above the 50 MA and 137.74 deck.

Trade idea
Buy at 137.3, Target: Open | SL: 134.26
----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

USDJPY - The pair may grow.

If the assumption is correct, the USDJPY pair will grow to the levels of 139.5–142. In this scenario, critical stop loss level is 134.69.

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

Silver - A fall is possible.

If the assumption is correct, the pair XAGUSD will fall to the levels of 18.4–15.77. In this scenario, critical stop loss level is 20.2.
----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

PayPal - The price may fall.
If the assumption is correct, after the end of the local correction as the wave (B) of B, the price of the asset will fall to the levels of 50–20. In this scenario, critical stop loss level is 158.6.

----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin

Bank of America - The price is in a correction, a fall is possible.

If the assumption is correct, after the end of the correction, the price of the asset will fall to the levels of 26.32–20.82. In this scenario, critical stop loss level is 39.27.
----------------------------------------------------------------------------------------
Solid ECN Securities

Account table > 1:1000 Leverage > Micro > ECN > Standard > Swap-free
Promotions > %30 Deposit bonus > Negative Balance Protection

solidecn.com
-----------------------------------------------------------------------------------------
instagram | facebook | twitter | linkedin