After the slight rise, Bitcoin is undergoing a correction, forming a pattern resembling a flag. The price of Bitcoin is testing the local support at the level of 20750 away from which it might jump again.
Brent oil has pulled from the psychological level of 100 and is heading up. Once the oil has reached the level of 120 and the downtrend, it might drop.
The EUR/USD pair broke the supporting level of 1.0350, therefore this level might offer some resistance. Hence, getting back to this level, the asset’s price might pull and drop again.
Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% and 68% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Written by Oleg Svirgun
Oleg has been trading on the Forex market for more than 10 years. He specializes in technical analysis with the oriental elements of candlestick analysis and has an extensive knowledge of all foreign exchange market trading aspects.
Previous Post
NFP Report Preview: Impact from a Downside Surprise will Likely be Limited
Next Post
Daily Market Outlook, July 11, 2022
Source: Tickmill