This is a market that continues to be choppy, but favors the downside.

• The EUR/USD currency pair fell a bit on Friday as we continue to see a lot of concern around the world.
• Keep in mind that we’ve been in a downtrend for quite some time, and it does make sense that we will see the euro suffer as a result, based upon simple momentum.
• Furthermore, you need to keep an eye on the fact that the interest rates in America continue to be much higher than in the European Union, which makes sense considering just how much negativity there is surrounding the European Union.

Fed Likely to Strengthen USD

While inflation is a bit of a problem throughout parts of the EU, the reality is that the Federal Reserve is going to remain very tight and therefore it’s likely that we will continue to see the US dollar strengthen. Ultimately, this is a situation that should continue going forward, especially as we see so much in the way of concern about energy in the European Union going forward. Quite frankly, the market is likely to see this as a “fade the rally” type of situation. It will continue to eventually try to get down to the parity level again, and I think it’s probably only a matter of time before we break below.

The 50-day EMA is a significant resistance barrier, but more important than that is going to be the 1.04 level. Breaking above that level would be a bullish sign, but it’s not until we break above the 1.06 level that I would consider this market broken out to the upside for a bigger move. While I cannot necessarily envision that happening, it’s a matter of following price at that point. If we do break above there, then the market is likely to continue to see the euro bounce quite higher.

The markets are trying to figure out whether or not the Federal Reserve is going to remain tight, which they very well should. However, if inflation starts to drop even further, then it’s possible that we could see the euro be a short-term beneficiary. If we break down below the parity level, it’s likely that the market could go down to the 0.98 level, perhaps even the 0.96 area. Ultimately, this is a market that continues to be choppy, but favors the downside.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

None of the buying or selling transactions were activated yesterday, Wednesday

Best selling entry points

• Entering a short position with a pending order from levels of 18.33
• Set a stop-loss point to close the lowest support levels at 18.55.
• Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.
• Close half of the contracts with a profit equal to 55 pips and leave the rest of the contracts until the strong resistance levels at 17.70.

Best entry points buy

• Entering a buy position with a pending order from levels of 17.85
• The best points for setting stop-loss are closing the highest levels of 17.54.
• Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.
• Close half of the contracts with a profit equal to 55 pips and leave the rest of the contracts until the support levels 18.31

Analysis of the Turkish Lira

The Turkish lira fell against the dollar during trading yesterday, Wednesday, after the country’s inflation data released yesterday, the number rose by 2.37%. It recorded 79.6% during the month of July. The interventions of the Central Bank of Turkey are clear, as the dollar crossed the levels of 18 lira for a while before falling again to levels of 17.90, the same levels that the pair has been trading at about two weeks ago. Despite the intervention of the Central Bank of Turkey, the impact of these interventions is limited. This is especially with the reduction of solutions available to the bank’s board of directors in light of adhering to an incentive policy that refuses to raise the interest rate to keep pace with other central banks around the world. This increases the pressure on the price of the lira.

Turkish Lira Technical Forecast

The Turkish lira fell against the US dollar, as it recorded a new high at 18.07 levels, the highest level for the dollar against the lira this year. In general, the pair’s movement continued with the same trading pattern as the pair since last week. Where the lira traded around the highest recorded during the current year. The pair is trading above the 50, 100 and 200 moving averages, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating the long-term bullish trend. The pair is also based on the rising trend line on the four-hour time frame shown on the chart, at the same time the pair is trading the highest support levels that are concentrated at 17.90 and 17.85 levels, respectively. The lira is trading below the resistance levels at 18.00 and 18.07, respectively. We expect to re-record new highs, especially with every dip in the pair, which represents a buying opportunity. Please adhere to the numbers in the recommendation with the need to maintain capital management.

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There are much easier ways to make money in crypto, and certainly much safer ones than Ripple is currently offering.

Ripple struggled again on Tuesday, losing over 4%. At this point, Ripple is threatening the $0.33 level, and it looks likely to break down to test the $0.30 level in the next couple of sessions. Ripple continues to struggle right along with the rest of crypto, which is currently in a huge state of disaster. After all, there have been a lot of questions about fraud and viability, so money in general has run away from crypto over these last several months.

When you look at the crypto market, it’s clear to see that we are heading into a situation much like 1999 for technology stocks. We are about to see a lot of coins and markets disappear, but that is not necessarily a bad thing. After all, the quicker we get through getting rid of unprofitable ventures, the quicker we are going to see some type of massive bullish run, not only for pricing in the markets but for the use case scenario.

Ripple is a bit of an outlier in the sense that there are banks that use it for cross-border transactions already. However, it should also be noted that the SEC is still currently fighting Ripple in the courts, trying to determine whether it is a security or not. That being said, if the SEC ends up winning the court case, the CEO of Ripple has suggested that they would leave and abandon the United States altogether. In other words, it would be a banking token that is ignoring the most profitable and lucrative economy in the world. That is not a bullish argument, although it does not necessarily mean that Ripple has to completely disappear either.

With a backdrop like that, if Ripple starts to rally, you can guarantee that quite a bit of other markets is doing the same. This is because not only does Ripple suffer at the hands of risk appetite like the rest of crypto, it is also one that has that specter of a lawsuit hanging over it. Nonetheless, the market could really take off to the upside if and when it gets a decision, assuming that it is not fatal doing business in the United States. There are much easier ways to make money in crypto, and certainly much safer ones than Ripple is currently offering.

The outlook for the pair is bearish, with the next key support being at 15,000.

Bearish View

• Sell the BTC/USD pair and set a take-profit at 15,000.
• Add a stop-loss at 20,000.
• Timeline: 1-2 days.

Bullish View

• Set a buy-stop at 20,500 and a take-profit at 22,000.
• Add a stop-loss at 18,000.

The BTC/USD pair crash continued during the weekend as sentiment in the cryptocurrency industry waned. Bitcoin declined to a low of $17,700, which was the lowest level since 2020. This price was significantly lower than the all-time high of almost $70,000.

Bitcoin Sell-Off Accelerates

Bitcoin and other cryptocurrencies continued their sell-off as investors continued worrying about the new Fed policies and the soaring inflation. The market sentiment is equally negative across most asset classes.

The ongoing BTC crash coincides in a period when American stocks have been in a sharp decline. For example, the S&P 500 index officially moved to a bear market last week.

These assets declined as worries of a more hawkish Fed continued. In its interest rate decision last week, the Fed decided to hike interest rates by 0.75% for the first time in almost three decades. It also hinted that it will deliver another 0.75% or 0.50% in the coming month.

This hawkishness is happening at a time when investors are anticipating a recession as the American economy weakens. For example, data published last week revealed that the country’s building permits and housing starts declined sharply in May.

Meanwhile, the BTC/USD pair is falling as participants in the industry see red. Last week, it was reported that MicroStrategy was staring at a margin call as the value of Bitcoin holdings plummets. Last week, Celsius hired restructuring experts after a crisis in its operations emerged. There are fears that the crypto lender will soon go burst.

Three Arrows is another crypto company that has been in trouble. Once a $10 billion hedge fund, the company has seen the value of its holdings plummet in the past few months. There are worries that it won’t survive. Worse, other major players in the industry are going through similar issues.

BTC/USD Forecast

The BTC/USD continued its downward momentum as demand for the coin evaporated. This sell-off gained steam after the pair moved below the important support at 20,000. It also managed to move below 2017 high of 19,700.

Bitcoin remains below all moving averages, as shown in the daily chart below. At the same time, oscillators like the Relative Strength Index (RSI) and the Stochastic have moved below the oversold level.

Therefore, the outlook for the pair is bearish, with the next key support being at 15,000. A move above the key resistance at 20,000 will signal more upside.

Ultimately, the question now is whether or not we can go lower and break below the 3800 level?

The S&P 500 has initially tried to rally a bit during the trading session on Thursday but get back gain as we are starting to focus on the CPI numbers coming out on Friday. Ultimately, the CPI numbers will give us an idea as to what the Federal Reserve is about to do, and of course, tightening monetary policy is like kryptonite for Wall Street. After all, the last 13 or 14 years have all run on liquidity and nothing else.

We have pulled back from a major area of confluence, as the 50 Day EMA sits there, and it was the same area where we had seen previous support. This is now resistance, based upon “market memory.” Ultimately, this is a market that has been in a downtrend and I just do not see that changing anytime soon. Ultimately, this is a market that probably goes looking towards the bottom again, but we will have to wait and see whether or not we have enough momentum to actually break through. All things being equal, this is a market that has nothing positive about it, so therefore I think it’s only a matter of time before we see sellers push even harder.

On the other hand, if we were to turn around a break above the 50 Day EMA, then we will challenge the 4200 level. Above the 4200 level then opens up the possibility of challenging the 4300 level. That’s an area that has been massive resistance previously, and now the 200 Day EMA sits right there as well. Ultimately, this is a market that I think will be looking for signs of exhaustion to jump all over. Because of this, I am more than willing to fade any short-term rally at this point, especially if the CPI numbers come out hotter than anticipated.

If the CPI never misses horribly to the downside, that might be enough to get a bit of a relief rally going, but I just don’t see that being the case, and even if it does, I think it only offers us shorting opportunities at higher levels. Quite frankly, that would be my favorite trade setup, but I just don’t see it happening. Ultimately, the question now is whether or not we can go lower and break below the 3800 level?

Today’s recommendation on the lira against the dollar

– Risk 0.50%.

Yesterday’s sell recommendation was activated and it is still trading

Best entry points buy

Entering a long position with a pending order from 15.29 . levels

– Set a stop loss point to close the lowest support levels 15.15.

– Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.

– Close half of the contracts with a profit equal to 75 pips and leave the rest of the contracts until the strong resistance levels at 15.05.

Best selling entry points

Entering a short position with a pending order from 16.00 . levels

– The best points for setting the stop loss are closing the highest levels of 16.11.

– Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.

Close half of the contracts with a profit equal to 75 pips and leave the rest of the contracts until the support levels 15.58

The Turkish lira continued its free fall against the dollar, as it fell for the third day in a row. Reports issued at the end of last week showed that the lira is declining under the supervision of the Turkish Central Bank, which no longer has many tools to limit the lira’s decline, especially with the continuous rise of the US dollar after reaching its highest level in twenty years during last week’s trading. In the meantime, many of the decisions adopted by Turkish President Recep Tayyip Erdogan did not succeed in stabilizing the price of the lira against the dollar, especially with the Turkish president’s insistence on reducing the interest rate despite the international central banks keeping pace with the Federal Reserve in raising the interest rate. It is noteworthy that a report published via Reuters showed the distress that the Turkish Central Bank is experiencing in the volume of hard currency reserves, which leads to the exclusion of the Central Bank’s direct intervention by pumping more dollars into the markets.

On the technical front, the Turkish lira fell against the dollar during today’s early trading, as the pair continued to rise above the moving averages 50, 100 and 200, respectively, on the four-hour time frame as well as on the 60-minute time frame. At the same time. The pair is also trading the highest support levels, which are concentrated at 16.30 and 15.10 levels, respectively. On the other hand, the lira is trading below the resistance levels at 16.00 and 16.40. At the moment, the pair has crossed 15.29 levels, which represents the 61 Fibonacci level of the descending wave that recorded its top on 12-12-2021 and recorded its bottom on 12-23-2021. If the pound’s current decline continues, the way is open to reach 16.63 levels, which it recorded at the end of last year, as it is the first major resistance level. Please adhere to the numbers in the recommendation with the need to maintain capital management.

I have no interest in buying Ethereum in the short term, but longer term it may end up being a nice investing opportunity.

Ethereum fell significantly on Friday to show further weakness. At this point, the market is likely to continue to see downward pressure, as the $2750 level will be supported. If we break down below there, then the market is likely to continue going much lower, perhaps reaching the $2500 level.

Just above, the $3000 level is further backed up by the 50-day EMA, and the 200-day EMA. Because of this, it will be interesting to see how this plays out due to the fact that the crypto markets in general have struggled, and the US dollar has been very strong. The Ethereum markets are pretty far out on the risk spectrum, so institutional money will be running away from it. As long as there are major concerns around the world, it is difficult to imagine a scenario where the crypto markets take off to the upside, and I do think that there is further pain ahead. Short-term rallies will more than likely offer selling opportunities, as we continue to see a real lack of interest.

Further causing problems is the fact that Ethereum continues to struggle moving forward. The Ethereum improvements seem to never be coming, and if that is going to be the case it is likely that we will continue to be a bit hesitant to get involved. The $2500 level underneath has been significant support previously, so I do think that it is probably only a matter of time before buyers would come back into the picture. That being said, I think that a lot of traders are looking at this through the prism of weakness, so I think it is only a matter of time before we get short again. The markets will continue to see a lot of noisy behavior but given enough time I think we have got a situation where rallies continue to offer opportunities to the short side. If we break down below the $2500 level, the market then goes looking to the $2000 level. Ultimately, I have no interest in buying Ethereum in the short term, but longer term it may end up being a nice investing opportunity. I do not see it happening anytime soon though, so keep in mind that we will continue to be noisy and you need to be cautious about your position size.

The downward trend of the EUR/USD currency pair is continuing. This path pushed the most popular currency pair in the forex market to the 1.0514 support level, the lowest in five years, and settled around the 1.0555 level at the time of writing the analysis.

The decline continued amid investor concerns about growth and threats to energy supplies from Russia. The single European currency, the euro, tumbled past the lowest level it reached in the first weeks of the coronavirus pandemic in March 2020, after Russia said it would cut gas to Poland and Bulgaria. There is now a possibility that the euro will close in April without its 20-year bullish trend, which could put parity with the dollar on the horizon.

In contrast, gains in the dollar accelerated and Russia’s arming of energy exports add to headwinds for the European currency, including the European Central Bank’s relatively more cautious stance on monetary tightening than the US Federal Reserve.

Traders, who requested anonymity because they are not authorized to comment on the forex foreign exchange market publicly, said that the currency’s decline since the New York close saw significant momentum in sell orders below the target low.

The European Union has rejected its demands to pay for Russian gas in rubles, but deadlines are now running out and governments need to decide whether to accept Russian President Vladimir Putin’s terms or lose vital supplies. Concerns about global growth caused by the worsening virus outbreak in China also boosted the dollar at the expense of the single European currency.

On the future performance of the euro-dollar: Some analysts are of the opinion that a depreciation of the euro-dollar exchange rate could move it close to it, or achieve 1:1.

The Eurozone energy shock intensified in the last hours after news emerged that Russia would suspend gas supplies to Poland and Bulgaria. The reason Russia cited was the two countries’ failure to comply with their demand to pay for gas in rubles. For its part, Poland says it was prepared for this possibility, but indicates that Russia is increasingly ready to arm its energy exports. According to the performance, the exchange rate of the euro against the dollar fell from its highest levels near 1.15 before the outbreak of the war in February to 1.0515 today, as analysts say that the war poses significant threats to the growth of the euro area and the European Union.

Jeremy Bolton, market analyst at Reuters, says the chance of EUR/USD falling below parity is greater now than it was during the eurozone debt crisis in the early 2000s. Bolton added, “Demand for the dollar resulting from significant tightening in US monetary policy is likely to lead to a larger decline than in 2015 when bets on the end of the single European currency drove traders into a record sell-off and the pair fell to 1.0457.”

The analyst notes that the current betting shows traders are “gambling high” — confirming the view that the parity decline is not crowded. And when sites get crowded, it’s actually a headwind for movement, but when the market is relatively uncrowded, the “clear air” ahead of you allows the trend to extend. “In 2015, the policies of the European Central Bank were designed to save the euro. The current policies are weighing on them and there is the potential for a bigger disagreement with the Fed, not only to raise interest rates in a big way but also to reduce the balance sheet. This could push the EUR/USD pair much lower.”

According to the technical analysis of the pair: So far, the general trend of the EUR/USD currency pair is still bearish. As mentioned before, the continuation of the weakness factors supports the current trend, the most prominent of which is the continuation of the Russian war and its repercussions. It is also in addition to the position of central banks towards tightening their policy, and the US Federal Reserve is leading this. Forex traders do not care about technical indicators reaching oversold levels and the persistence of weakness factors that open the way for a level test.

The bearish trend is stronger and the closest to it is currently 1.0500 and 1.0380, respectively.

On the upside, and according to the performance on the daily chart, the EUR/USD pair needs to break the psychological resistance currently 1.1000. Otherwise, the trend will remain bearish, and I still prefer to sell the EUR/USD from every ascending level. The euro-dollar pair is awaiting the announcement of German inflation figures, then US economic growth figures and weekly jobless claims.

Building a position slowly will probably work out best, as we continue to see a lot of volatility and fear not only in the Monero market, but pretty much anything that is further out on the risk spectrum.

The Monero market fell hard on Tuesday to show further weakness. The $240 level continues to be an area of interest, as it was previous resistance. Now it is offering support, and it is worth noting that the Monday candlestick was a bit of a hammer. Now that we are testing the bottom of it, it looks like we could threaten a serious breakdown. Having said that, we also have just recently had the so-called “golden cross”, which is when the 50-day EMA crosses above the 200-day EMA.

The market could very well break down below the $240 level, which would not be a huge surprise considering that Monero is a minor coin. Furthermore, as long as Bitcoin and Ethereum struggle, it is difficult for smaller markets like this to have any real traction. I think at this point in time it is likely that we will continue to see a lot of noisy behavior, so you are going to have to be very cautious about your position sizing. I think given enough time we will probably have some type of resolution, but right now crypto does not look very good. With that in mind, I do not expect Monero to be any different than the others.

On the upside, the $280 level has been a bit of resistance, which is a significant resistance barrier going back multiple years. I think dips at this point could be supported at the $215 level, right along with the 50-day EMA and the 200-day EMA indicators that are sitting there. With this being the case, you need to wait to see whether or not we get a bit of a bounce in order to get involved again. I do not necessarily think you should short this market here, just that it does not necessarily look like it is going to take off all of the sudden either.

A bit of patience would have a lot to do with being successful in this scenario, which is something that you need to pay close attention to. Building a position slowly will probably work out best, as we continue to see a lot of volatility and fear not only in the Monero market, but pretty much anything that is further out on the risk spectrum.

Today’s recommendation on the lira against the dollar

– Risk 0.50%.

– The buy order of yesterday’s recommendation was activated, and the stop loss point was moved as the price moved in the direction of profit

Best buy entry points

Entering a long position with a pending order from 14.62 levels

– Set a stop loss point to close the lowest support levels 14.46.

– Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.

Close half of the contracts with a profit equal to 75 pips and leave the rest of the contracts until the strong resistance levels at 14.85.

Best selling entry points

Entering a short position with a pending order from 14.86 . levels

– The best points for setting the stop loss are closing the highest levels of 14.98.

– Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.

Close half of the contracts with a profit equal to 75 pips and leave the rest of the contracts until the support levels 14.40

Turkish lira declines after early data, the consumer confidence index fell to its lowest level in 12 years. This is with the rise in inflation significantly in the country, as it exceeded its highest levels in 20 years, after recording levels exceeding 61 percent. The weakness of the Turkish lira, which lost nearly 44 percent of its value over the past year, also contributed. pressure on consumer confidence. In general, the weak data contributed to the decline in living standards, making foreign imports more expensive for citizens. Financial expectations over the next year also fell to 63.9 points. The economic numbers and the data that continue to reflect the not good conditions in Turkey.

On the technical front, the Turkish lira declined slightly against the dollar during today’s trading, as the US dollar pair against the Turkish lira maintained its trading within a narrow trading range, which is evident on the chart. The pair is currently trying to surpass the descending trend line on the 240-minute time frame, shown on the chart. The pair also varied around the 50, 100 and 200 moving averages, respectively, on the four-hour time frame, while trading above the same averages on the 60-minute time frame. The pair is trading the highest support levels that are concentrated at 14.60 and 14.45 levels, respectively. On the other hand, the lira is trading below the resistance levels at 14.68 and 14.75, respectively. We expect the lira to decline as long as the pair does not break the bottom recorded during last week. In the event of breaching 14.68 levels and closing the highest levels of the descending trend line, this will lead to an increase in the losses of the Turkish lira. Please adhere to the numbers in the recommendation with the need to maintain capital management.