Today’s recommendation on the lira against the dollar

• Risk 0.50%.
• None of yesterday’s buy or sell transactions were activated

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 long position with a pending order from 17.98 levels

• The best points for setting stop-loss are closing the highest levels of 17.74.
• 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

Turkish Lira Analysis

The Turkish Lira witnessed some decline during early trading this morning, although the pair remained within a limited trading range. Early this morning data showed an improvement in consumer confidence in Turkey, according to data from the country’s statistics authority. The consumer confidence index rose to 72.2 points in August, compared to 68 points last month. The index hit its highest level in five months. The good data is not expected to be reflected in a large way on the price of the lira, especially after the statements of Recep Tayyip Erdogan yesterday, in which he adhered to a stimulus monetary policy aimed at lowering the interest rate. The forecasts of the Turkish Central Bank, which were published earlier this month, showed that the dollar may rise to levels of 20 lira by the end of this year.

USD/TRY Technical Outlook

The USD/TRY traded near its highest levels during 2022, the pair continued to trade within a narrow trading range, which is shown on the chart. The pair is also trading above the moving averages 50, 100 and 200, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating the long-term bullish trend. The pair traded the highest support levels, which are concentrated at 18.08 and 17.98 levels, respectively. While the lira is trading below the resistance levels at 18.16 and 18.33, respectively. The chance of the lira rising against the dollar is still weak, as the pair is heading in a general bullish direction in general. As each decline of the pair represents a good buying opportunity, please adhere to the numbers in the recommendation, with the need to maintain capital management.

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After attaining short term highs late last week, the USD/BRL has reversed lower and yesterday’s depths have it within sight of important support.

The USD/BRL closed near the 5.1037 level yesterday and a low of nearly 5.0700 was achieved. The depth of value tested yesterday touched values last seen on the 12^th and 15^th of August. Intriguingly after testing the lower marks in the second week of August, the USD/BRL currency pair then began to climb higher reaching a short term result of nearly 5.2190 on the 19^th.

The moves of the USD/BRL have mirrored the results of many major currency pairs, but traders should remember that transactional volumes remains choppy at times and volatile spikes can develop which seem to follow no correlation to global Forex momentarily. The opening for the USD/BRL today as always should be monitored, because current values are within sight of rather important technical support, which if tested could prove to be a dynamic lynchpin and cause price action turbulence.

Support near the 5.1000 USD/BRL should be monitored for Implications

If the 5.1000 support level is penetrated lower and the price is sustained beneath, this could cause speculators to believe the USD/BRL has the capability to test values seen the 10^th of August through the 16^th.  However, while trading near lows of around 5.0340 to 5.0950 the USD/BRL also saw strong moves higher which tested the fortitude of speculators. Risk management remains essential while wagering on the USD/BRL because tranquil days can turn into sudden storms.

• The price range of 5.0975 to 5.1140 should be watched as the USD/BRL opens because the pair often produces gaps which can prove troubling for speculators without risk tactics in place.
• Short term traders should be ready for choppy conditions as the USD/BRL tests lows and global Forex conditions remain within a nervous behavioral sentiment cloud.

Reversals are certain to occur in the USD/BRL as the Trading Range is Tested Short Term

Traders may be tempted to look for upside in the USD/BRL if the 5.0950 to 5.1025 support levels hold for short term wagers looking for quick hitting results.  Traders of the USD/BRL in the near time should be ready for a test of the current range and not be overly ambitious, meaning they should be willing to cash out winning trades if they develop and then wait for other technical ratios to develop.

The USD/BRL will certainly react to policy speeches which come from the Jackson Hole meetings over the next few days in Wyoming. Strong hawkish Federal Reserve policy will likely serve as counterweight for the USD/BRL as it tests support levels. If U.S central bank policy speeches in the next few days suggest more interest rate hikes beyond what is expected in September, the USD/BRL could find reason to be bought again and produce a test of resistance levels.

Brazilian Real Short Term Outlook:

Current Resistance:  5.1149

Current Support:  5.0929

High Target: 5.1726

Low Target:  5.0445

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Our expectations indicate more ascent for natural gas during its upcoming trading.

Spot natural gas prices (CFDS ON NATURAL GAS) continued to rise in recent trading at intraday levels, to achieve daily gains until the moment of writing this report, by 2.38%. It settled at the price of $ 10.028 per million British thermal units, after rising sharply during yesterday’s trading by reaching 5.04%.

Natural gas stole the spotlight on Monday as prices in the United States rose to a 14-year high, with analysts attributing the gas price move to Russia’s decision to halt flows to Europe along the Nord Stream 1 pipeline.

Gazprom announced late last week that the Nord Stream 1 pipeline will be suspended for three days of maintenance, and the real concern for the market is whether flows will resume after this period.

• In the United States, August-September has historically been the strongest season of the year for natural gas, with a combination of potential supply disruptions from hurricanes and the anticipation of the upcoming home heating season.
• Issues related to the supply of Russian natural gas to Europe have also been a factor.

The current tight supply of demand is underlined by US crude stocks in the Strategic Petroleum Reserve (SPR), which are at their lowest level in more than 35 years.

Natural Gas Technical Outlook

Technically, natural gas, with its recent rise, succeeded in breaching the pivotal resistance level 9.600, to settle above it until the moment of writing this report. It is amid complete control of the main bullish trend in the medium and short term along major and minor slope lines, as shown in the attached chart for a (daily) period. The continuation of the positive pressure with its trading above its simple moving average for the previous 50 days. The influx of positive signals on the relative strength indicators is despite reaching overbought areas.

Therefore, our expectations indicate more ascent for natural gas during its upcoming trading, especially as long as its stability is above 9.600, to target the first resistance levels at 10.70.

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Spot natural gas prices continued to rise in recent trading at intraday levels, to achieve new daily gains until the moment of writing this report, by 0.68%. It settled at the price of $9.460 per million British thermal units, after rising sharply during yesterday’s trading. By 5.91%.

Natural gas futures ended yesterday’s session at their highest levels since 2008, buoyed by supply shortages in the US and Europe, as European gas prices remained elevated after the weekend amid maintenance activity in Norway, while flows through the Nord Stream 1 pipeline remain significantly restricted. big.

Natural Gas Prices

Prices in the US also remain high amid rising temperatures, and although the temperatures are cooling down, hurricane season is still lurking.

Analysts expect the US Energy Information Administration on Thursday to report an increase of 34 billion cubic feet in US gas inventories for the week ending August 12, according to a survey by S&P Global Commodity Insights, which indicated that a rise in that volume would be much lower. of an average five-year storage of 47 billion cubic feet.

So far this year the price of gas in the first month has risen by about 150%, as higher prices in Europe and Asia maintain strong demand for US LNG exports. Global gas prices have risen this year after supply disruptions linked to Russia’s invasion of Ukraine on February 24.

Technical Outlook for Natural Gas

Technically, natural gas is now preparing to attack the pivotal resistance level 9.600, amid the dominance of the main bullish trend in the medium and short term along a slope line. This is shown in the attached chart for a (daily) period, with the continued influx of positive signals on the relative strength indicators, despite reaching areas. The price is very saturated with buying operations, and the price is also benefiting from the continuation of the positive pressure to trade above its simple moving average for the previous 50 days.

Therefore, our expectations indicate that natural gas will continue to rise during its upcoming trading, but on the condition that it first breach the obstacle of the resistance level 9.600, and then target the resistance level of 10.70.

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Today’s recommendation on the lira against the dollar

Risk 0.50%.

The buy trade of the recommendation was activated on Thursday, and a profit was made with closing half of the contracts with the introduction of the stop loss

Best selling entry points

• Entering a short position with a pending order from levels 17.45
• Set a stop loss point to close the lowest support levels 17.65.
• 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 16.40.

Best entry points buy

• Entering a buy position with a direct order from 16.81 . levels
• The best points for setting the stop loss are closing the highest levels of 16.44.
• 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 17.11

The Turkish lira fell during early trading today, as investors followed early reports issued by the country’s statistics institute that showed inflation rose 78.62% on an annual basis during the month of June, which exceeds analysts’ expectations. On a monthly basis, inflation rose less than expected as it rose by 4.95%, compared to the previous 2.98%. Inflation in Turkey continues to rise, reaching its highest level in 24 years, specifically since 1998, which is slightly higher than expectations and the highest level since 1998. The rise was led by the transportation sector, which rose by 123.37%, and the rise in food and non-alcoholic beverages prices by 93.93% contributed to pushing Inflation is up, and the prices of furniture and household appliances increased by 81.14%. Turkish President Recep Tayyip Erdogan previously approved raising the country’s minimum wage at the end of last week, amid promises to reduce inflation by the end of the year.

On the technical front, the Turkish lira fell against the US dollar, as the pair returned to trading in a narrow range, which is shown in the ascending channel on the four-hour time frame shown on the chart. At the same time, the pair settled above the support levels that are concentrated at 16.70 and 16.48 levels, respectively. At the same time, the lira is trading below the resistance levels at 17.11 and 17.40, respectively. The pair also traded between the 50, 100 and 200 moving averages, respectively, on the four-hour time frame as well as on the 60-minute time frame, indicating a short-term divergence. While the pair continues trading above the moving average 50 on the time frame of the day. At the same time, the pair is trading the highest strong resistance levels represented in the 50 Fibonacci levels on the descending wave that started from 06-24-2022 until the top recorded on 06-27-2022. We expect the pair to rise from the levels specified in the recommendation. Please adhere to the numbers in the recommendation with the need to maintain capital management.

It’s only a matter of time before something ugly happens to cause more selling and panic in the markets overall.

Gold markets initially tried to rally on Tuesday but then turned around to show scenes of exhaustion yet again. As long as interest rates continue to be very strong in the United States, it puts a bit of a drag on the gold market. Furthermore, there’s a lot of concern out there about getting liquid, and some traders will sell gold in order to pay for other positions that they are suddenly in trouble with.

From a technical analysis standpoint, we are threatening a major support level in the form of an uptrend line, and of course the $1800 level was right here as well. In other words, there are a couple of different reasons to think that perhaps buyers may show up in this general vicinity. If we were to break down here, then it’s likely that the market will open up into a new flood of selling, possibly sending this market down to the $1750 level. When you look at this chart, it’s obvious that we are trying to break through this support level, and I do think that we have further to go. In fact, we have formed a massive “H pattern”, which is generally a very bad sign.

If we get a breakdown at this point, it’s likely that it will be rather ugly. On the other hand, if we were to turn around and show signs of bullish pressure, then it’s not until we break above the $1880 level that we could see any real follow-through. There is the possibility that we bounce here to stay in the overall range, and right now we have not managed to break down, but really at this point, one would have to think that it’s only a matter of time before something ugly happens to cause more selling and panic in the markets overall.

If we were to turn around and break above the 50-day EMA, it’s possible that we could take off to reach the $1920 level, followed by the $2000 level, but that seems to be very unlikely. Ultimately, we would need to see a massive change in the interest rate markets, which at this point does not look to be very likely. I believe it is a scenario where we will continue to see sellers come in on rallies.

Japan’s determination to maintain the stimulus policy and ignore the path of the rest of the global central banks in tightening and raising interest rates contributed to a new collapse of the Japanese yen in the forex market. Since the start of trading this week, the price of the currency pair, the US dollar against the Japanese yen, recorded sharp bullish breaches. Its impact is towards the resistance level is 133.00, which is the highest in 20 years.

Japanese Prime Minister Fumio Kishida is likely to want the Bank of Japan to stick to its current policy direction even after a conservative change, according to a senior member of the ruling party. In this regard, Shoji Nishida, head of a pro-spending group in the party with ties to former Prime Minister Shinzo Abe, cited the fiscal policy plan published last week as evidence that Kishida is more committed than previously thought to the BoJ’s inflation target. A draft policy released by the Finance Ministry emphasized a 2% inflation target, as the BoJ had pursued under Governor Haruhiko Kuroda. But this time it added the words “sustainably and consistently” in reference to how to achieve the target set by the Abe government in 2013.

“What that means is that the policy cooperation with the Bank of Japan that was created under Abenomics must continue,” Nishida added in an interview last week. “This means that the next BOJ Governor must stay on Kuroda’s path.” Nishida’s comments come amid strong interest in who will succeed Kuroda when he steps down next spring. Economists and investors want to know if Kishida will look to reposition the Bank of Japan away from the ultra-low interest rate stance that helped push the yen to its lowest levels in two decades as other global central banks raised interest rates to curb inflation.

The wording change also suggests that the Nishida group may be gaining traction as a voice within the LDP. Kishida’s new capitalist plans and his talk of increasing the defense budget indicate that the government may initiate more spending. To finance various projects, Japan will need more debt issuance, and it will benefit from keeping interest rates low.

The loose wording in the financial draft on the government’s budget balance indicates that spending can be increased even after an additional budget was approved last week. While the government has said it will continue to meet its current goal of pursuing fiscal soundness, it has removed direct reference to balancing the state’s books by the end of fiscal year 2025. Nishida added that dropping the calendar-based target is a clear sign of change. “Politics in Japan is now moving towards a more aggressive fiscal policy.”

According to the technical analysis of the pair: Undoubtedly, the gains of the USD/JPY currency pair moved the technical indicators towards overbought levels, but the continuation of its gains factors may make the currency pair maintain its rebound gains for a longer period. In general, as long as the dollar-yen pair is above the psychological resistance 130.00, the general trend of the currency pair will remain bullish, and the closest resistance levels for the current trend are 133.20 and 134.00, respectively. The currency pair may maintain its track until the release of US inflation figures by the end of the week.

To turn to the downside, the dollar-yen pair will have to settle below the 130.00 level as a first stage.

SOL/USD has traded lower in early market action this morning, after hitting solid short term highs the past two days the cryptocurrency faces a struggle.

SOL/USD is trading below the 45.0000 level as of this writing with its typical fast conditions. Solana was able to provide bullish traders with upside movement the past two days and challenged the 48.2500 vicinity on the 30^th and 31^st of May, but headwinds have settled into the broad market for many of the major digital assets as potential profit takes an effect.

While SOL/USD was able to demonstrate a rather solid incremental climb the past handful of days, the cryptocurrency still remains within the lower part of its long term price range. Solana remains dangerously close to its prices of August 2021. Most other major cryptocurrencies plunged through their August and July prices of 2021 a few weeks ago, when massive selling hit the digital assets, but SOL/USD has been able to remain above these ratios.

The move higher the past few days has been encouraging for bullish traders, but because SOL/USD remains so close to its August 2021 prices, skeptics may still believe further room can be explored lower.  The broad cryptocurrency market remains within its bearish trend, a few days of positive trading may be the start of a strong reversal higher, but it may prove to only be a vacuum sucking people in who are optimist and preparing to cost them money if the downturn picks up momentum again.

If SOL/USD were to fall below the 44.0000 price short term, this would be a poor indicator.  Rather important support lurks near the 43.0000 level and if bearish selling suddenly shows price velocity this could prove to be a rather negative signal for Solana. On the 27^th of May SOL/USD was trading below the 41.0000 level momentarily. If market conditions in the broad market remain caught in a downturn, SOL/USD has the ability to fall to lows not tested since July of 2021.

SOL/USD is a fast mover.  Speculators need to use their full array of risk management when trading Solana, including entry price orders, take profit and stop loss tactics. SOL/USD was able to show some optimistic results the past few days, but a reversal lower would not be a surprise at this time with a re-test of lows seen only a handful of days ago when Solana traded below 41.0000.

Solana Short-Term Outlook

Current Resistance: 45.6200

Current Support: 44.3000

High Target: 56.0600

Low Target: 42.2700