Bitcoin has formed the flag and broke the trendline. Now, the asset is trying to break the level of 23500. Bitcoin is on the rise and might hit the level of 25500 soon.
Gold has pulled from the downtrend and dropped. The asset is likely to pull back from the broken monthly trend denoted by the thick blue line on the chart and face resistance at the level of 1800.
The currency pair EUR/USD broke the local uptrend resembling a bearish flag.Currently, the asset’s price is trying to remain behind the broken pattern and might jump soon. So, let’s wait and see what is about to happen next.
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.
Upbeat US ISM Release Suggests Hopes of Fed Dovish Shift may Fade Quickly
Daily Market Outlook, August 4, 2022