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Nvidia technical analysis

On the daily chart of the asset, a global downward channel is developing with dynamic boundaries of 130–230. Currently, the price has reached its support line, breaking the 100% underlying Fibonacci extension trend level at 160 and holding below. The 4-hour chart clearly shows that the downtrend could continue to the full 161.8% Fibonacci extension trend at 83. Before that, the trading instrument will need to break the year’s low of 140. Technical indicators hold a sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram is forming new bars with a downtrend.

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EURUSD - the pair hit an all-time low

The EURUSD pair is actively losing value and yesterday reached a historical milestone, which coincides with a 20-year low at 1 the value of the euro caught with the value of the US dollar against the backdrop of a tense economic situation in the EU, where macroeconomic indicators are declining for the second quarter in a row. Today, statistics from Germany for July will be published, and, according to forecasts, the index of current economic conditions from ZEW may correct to -34.5 points from -27.6 points, and the economic sentiment index risks dropping to 2020 levels around –38.3 points, which puts pressure on the single currency. The trading instrument is moving within the global downward channel, reaching its support line yesterday. Technical indicators maintain a global sell signal: indicator Alligator’s fast EMA oscillation range expands downwards, and the AO oscillator histogram has formed another down bar in the sell zone.

Resistance levels: 1.015, 1.037 | Support levels: 1, 0.99

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AUDUSD - US dollar reaches 20-year high

The Australian currency shows neutral dynamics against its main competitors; however, it is significantly declining against the US dollar amid its sharp strengthening. Now the pair AUDUSD is correcting around 0.6724.

Despite general stability, the situation in the Australian economy may be at risk, as confirmed by the latest macroeconomic reports: the July index of consumer sentiment from Westpac remained in the negative zone at –3.0%, having been below zero for eight consecutive months, and the business confidence index from the National Bank of Australia in June fell to 1.0 points from 6.0 points a month earlier, which is the lowest value since January of this year and indicates a significant distrust in the country's economy in the business community. On the global chart, the price is trying to get out of the Expanding formation pattern, dropping below its support line. Technical indicators do not weaken the sell signal: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram is trading in the sell zone.

Support levels: 0.67, 0.654 | Resistance levels: 0.6768, 0.687

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S&P 500 - waiting for US inflation statistics

The US stock market continues to decline, and yesterday's drop in indices was one of the most dynamic in recent times. First of all, investors' concerns are related to the growth of the consumer price index in the USA, data on which will be presented tomorrow. If the indicator exceeds 9.0%, an emergency increase in the interest rate by 100 basis points from the American financial regulator is not excluded, which could bring down stock markets at the moment, especially the high-tech sector, which traditionally depends on the cost of borrowing. The index quotes are traded in a global descending channel, being in the middle of the range. Technical indicators continue to hold a stable sell signal: fast EMAs on the alligator indicator are below the signal line, and the histogram of the AO oscillator, holding in the sales zone, forms ascending bars.

Support levels: 3781, 3500 - Resistance levels: 3900, 4151

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AUDUSD - The pair may fall

If the assumption is correct, the AUDUSD pair will fall to the levels of 0.6446–0.6082. In this scenario, critical stop loss level is 0.6885.

NZDUSD - The pair may fall.

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 0.6257.

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The shares of Meta Platforms, which owns the world's largest social network Facebook, are moving within a downtrend around 163. On the daily chart of the asset, a global Triangle pattern is forming with local extremes at 18 and 150, and a sharp narrowing of the formation range may indicate that the price is entering its last third, where a signal to exit it will develop. On the four-hour chart of the asset, the quotes are completing the formation of another ascending wave, after which they can break through the lower border of the pattern around 155 since the probability of a downside implementation is much higher. Technical indicators confirm the possibility of a decline, reversing downwards: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram forms upward bars in the sell zone.

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IBM - The price may grow.

If the assumption is correct, the price of the asset will grow to the levels of 153.45–160. In this scenario, critical stop loss level is 132.61.
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EURUSD - the euro is held near the parity level with the US dollar
The European currency shows multidirectional trading dynamics, consolidating near the key level of 1.0000, which has not yet been actively tested. The day before, the instrument also traded near the parity level and even tried to fall to the level of 0.9990 for some time; however, the "bulls" quickly regained the lost positions. The euro is certainly receiving strong technical support near this psychological level, but the pressure on the single currency only intensifies as the region's economic outlook deteriorates. The last time the euro traded at parity against the US dollar was in December 2002. Bollinger Bands in D1 chart demonstrate active decrease. The price range is expanding, making way to new record lows for the "bears". MACD is going down preserving a stable sell signal (located below the signal line). Stochastic retains downward direction but is located in close proximity to its lows, which indicates the risks of oversold EUR in the ultra-short term.

Resistance levels: 1.005, 1.01, 1.015, 1.02 | Support levels: 1, 0.995, 0.99
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USDJPY - Currency pair continues to rise
The downward dynamics of the national currency are developing despite the measures to purchase assets for record amounts taken by the Bank of Japan. However, there is still hope for early stabilization of the yen: the elections to the country's parliament ended yesterday, in which the party of the current Prime Minister Fumio Kishida won. The government's approval rating rose to a record high of 63.2%, which means that aggressive monetary policy is likely to continue. Also, investors are encouraged by positive macroeconomic indicators: the corporate goods price index in June rose by 0.7%, which is higher than the 0.5% expected by analysts, and by 9.2% YoY, which exceeds the forecast of 8.8% and only 0.1% lower than last month. The trading instrument is moving within the global uptrend, holding slightly below the year's high at 137.40. Technical indicators maintain a stable buy signal: indicator Alligator's EMA oscillation range remains wide, and the AO oscillator histogram forms new bars high in the buy zone.

Resistance levels: 137.44, 140 | Support levels: 134.9, 131.45

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XRPUSD - positive court news supports XRP

Today, the price is attempting to rise against the backdrop of positive judicial news for Ripple. Earlier, the court rejected the requirement of the US Securities and Exchange Commission (SEC) to recognize the comments of the former head of this regulator, William Hinman. During his tenure, Hinman stated that the SEC does not consider Bitcoin and Ethereum as securities, and therefore XRP, since it is not very different from ETH. If this can be proved to the court, then Ripple is likely to win the dispute with the American regulator. However, positive court news is unlikely to lead to a significant increase in the pair, since the cryptocurrency market is now dominated by negative monetary factors. The US Fed continues its cycle of raising rates and may increase them by another 75 percentage points this month, as it still fails to curb inflation. In the event that June data released today confirms an 8.8% increase in prices, the regulator’s actions may become even sharper, which will lead to a new outflow of investors from the digital asset market.

The price is close to 0.293, consolidation below which will give the prospect of further decline to the levels of 0.2441 and 0.1953. A breakout of 0.3650 can cause growth to 0.4395 (Fibo retracement 23.6%) and 0.4883. Technical indicators do not give a single signal: the Bollinger Bands are horizontal and are consolidating, as it happens before a serious price movement, the MACD histogram is stable in the negative zone, and the Stochastic is directed downwards, but approaching the oversold zone, which is fraught with a reversal.

Resistance levels: 0.3650, 0.4395, 0.4883 | Support levels: 0.2930, 0.2441, 0.1953

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USDCAD - The pair may grow.

If the assumption is correct, the USDCAD pair will grow to the levels of 1.341 – 1.37. In this scenario, critical stop loss level is 1.2816.

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USDCHF - The pair may grow.

On the daily chart, the third wave of the higher level 3 of (3) develops, within which the wave iii of 3 formed, and a correction formed as the fourth wave iv of 3. Now, the formation of the fifth wave v of 3 has started, within which the first wave of the lower level (i) of v has formed.

If the assumption is correct, after the end of the local correction (ii) of v, the USD/CHF pair will grow to the levels of 1.02 – 1.035. In this scenario, critical stop loss level is 0.949.


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Adobe Systems - technical analysis

On the daily chart of the asset, the formation of a downtrend continues, which may continue after the breakdown of the global year's low at 350. On a four-hour chart, the price forms a local Flag pattern with the boundaries of 360 – 400, which increases the likelihood of a global downward movement after the breakdown of its support line. Technical indicators reflect a possible continuation of the global decline: indicator Alligator's EMA oscillation range expands downwards, and the histogram of the AO oscillator forms downward bars in the sell zone.


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AUDUSD - Australian dollar develops a weak upward correction

The Australian dollar is showing an uncertain rise, building on the corrective momentum that was formed on Tuesday, July 12, when AUDUSD traded at record lows of June 2020. The instrument is testing the level of 0.677 for a breakout, receiving support from strong macroeconomic statistics from Australia and China. In turn, the growing demand for the US currency prevents the emergence of a more active "bullish" dynamics.

Trade Idea
Sell, TP 0.6710 | SL: 0.6874

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Home Depot - Technical analysis

The stocks of Home Depot, the world's largest home improvement company, are trending down at 287. On the daily chart of the asset, a global downtrend is forming, within which the price decreases within the local channel with dynamic boundaries of 265 – 293. On a four-hour chart, the quotes reached the resistance line of the global downtrend around 293. Despite the strength of this level, there is a possibility of its breakdown, which is confirmed by technical indicators that are preparing to form a reversal and give a signal to start buying: indicator Alligator's EMA oscillation range narrowed almost completely, and the AO oscillator histogram approached the transition level, forming upward bars.

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Gold is ready for a local reversal

There are only three most liquid equivalent assets in the global economy: the US dollar, oil, and gold. When one of them rises sharply, the other two always fall, which is what is happening now: the oil price has fallen below 100, and gold quotes are approaching 1700. This situation cannot last long: the issue of the US currency causes an increase in inflation, which has already exceeded 9.0%, which means that the purchasing power of the population has decreased again, and this will lead to a drop in demand for the dollar, which will provoke an increase in oil and gold. On the daily chart of the asset, the price is moving within the global downward channel. Technical indicators maintain a sell signal, not excluding a slight correction: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram has formed the first rising bar in the sell zone.

Resistance levels: 1745, 1786 | Support levels: 1707, 1685


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Crude Oil - the oil market continues to correct

Brent Crude Oil quotes are correcting, trading just above 98, amid serious concerns about falling energy demand due to a new outbreak of coronavirus in China and, as a result, severe restrictions on the movement of citizens.

The market is awaiting the outcome of US President Joe Biden's visit to Saudi Arabia. John Kirby, National Security Council strategic communications Coordinator at the White House, said yesterday that Biden intends to hold meetings with King Salman bin Abdulaziz Al Saud, as well as with Crown Prince Mohammed bin Salman Al Saud. This visit has a specific goal of persuading Saudi Arabia to increase oil production levels, thereby reducing its quotes on the world market. However, experts are sure that it will not be successful for the United States, since the day before it became known that at a recent online summit of the BRICS organization, which includes the Russian Federation and China, the issue of Saudi Arabia's membership in the organization was discussed. On the global chart, the price is trading below the key level of 100.00. Technical indicators are holding a steady sell signal, which is still strengthening: fast EMAs of the Alligator indicator are moving away from the signal line, and the AO oscillator histogram, being in the sell zone, is forming new descending bars.

Support levels: 96.22, 88.63 | Resistance levels: 100.7, 106

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ADAUSD - Technical analysis

The ADAUSD pair is moving within a long-term downtrend, and this week it was able to break below the level of 0.43, which it had unsuccessfully tested several times for a month and a half. In the future, the price decline may continue to 0.3906 and 0.3418. If the middle line of Bollinger bands is broken upwards, the quotes may rise to 0.4882 and 0.5371.

Further negative dynamics seem more likely, as technical indicators confirm the continuation of the downward trend: Bollinger bands are directed downwards, the MACD histogram is increasing in the negative zone, and Stochastic has entered the oversold zone and is directed horizontally.

Resistance levels: 0.4600, 0.4882, 0.5371 | Support levels: 0.3906, 0.3418, 0.2929

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Crude Oil - The price may fall.

If the assumption is correct, Brent Crude Oil price will fall to the levels of 77.08–62.5. In this scenario, critical stop loss level is 109.83.