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Gold - Candlestick Analysis



H4
On the four-hour chart, there is the formation of an Inverted Hammer reversal pattern at the level of 1696.34; however, the attempt of the "bulls" to seize the initiative in the XAU/USD pair was unsuccessful. This can be seen in the formation of a Bearish Engulfing pattern, which showed that the market is still under the influence of sellers. The appearance of opposite figures states uncertainty, and in the current situation the price may reverse at the support level of 1682.63 and head higher to the resistance level of 1732.43, overcoming of which will open the way for the "bulls" to the zone of 1808.60–1879.88. An alternative scenario is likely if the price breaks down the support level of 1682.63, then the instrument may drop to the area of 1628.66–1551.08.



D1
On the daily chart, at the level of 1696.34, there is the formation of Inverted Hammer and Hammer candlestick analysis patterns, which warn of a likely price reversal upwards, and at the moment, at the level of 1717.8, another Inverted Hammer model is being built. After a long decline in the asset, the price has probably reached the bottom and is preparing for a reversal. In the current situation, it seems possible to restore quotes to the level of 1732.43, overcoming which will allow the price to strengthen to the area of 1808.6 – 1879.88.

Support levels: 1682.63, 1628.66, 1551.08 | Resistance levels: 1732.43, 1808.6, 1879.88
 


EURUSD - The US dollar controls the dynamics of the pair

According to data released yesterday, the volume of Industrial Production in the eurozone in July fell by 2.3% after rising by 1.1% a month earlier, which led to a decrease in the annual rate by 2.4% after increasing by 2.2% in the previous month. The negative dynamics was supported by today's data on the Wholesale Price Index in Germany, which in August added only 0.1 against the forecast of 0.5%, and in annual terms slowed to 18.9% from 19.5%.



The EURUSD pair remains within the global descending channel, declining in the direction of the support line. Technical indicators hold the sell signal, somewhat weakening it: the fast EMAs on the alligator indicator are still below the signal line, and the histogram of the AO oscillator forms new bars, being deep in the sales zone.

Support levels: 0.99, 0.975 | Resistance levels: 1.0055, 1.02
 
USDCAD - Canadian household wealth hits historic low

The "hawkish" policy of the Bank of Canada, which is actively raising interest rates and has brought the rate to 3.25% at the last meeting, has caused serious pressure on households. The previous day, the Statistics Office reported a drop in their wealth in the second quarter to the lowest value in history at –6.1%, which amounted to 775.0B dollars. One of the key factors behind the negative dynamics was a 419.0B dollars decline in real estate prices and corrections in the stock market. The debt-to-income ratio increased to 181.7% from 179.7% a quarter earlier, and analysts expect this trend to pick up in the year's second half.

The US dollar has almost regained its lost position and is now confidently trading above 109 in the USD Index, although macroeconomic statistics record negative dynamics in many industries. Thus, the rate on 30-year loans from the Mortgage Bankers Association (MBA) reached a historic high of 6.01%, rising from 5.94%, once again increasing the debt burden on households. It is worth noting the decrease in the producer price index by 0.1% in August and, as a result, the slowdown in the annual rate to 8.7% from 9.8% a month earlier.



On the daily chart of the asset, the price is moving within a wide ascending channel with dynamic boundaries 1.2800–1.3400, approaching the resistance line. The Alligator indicator's EMA oscillation range expands upwards, and the histogram of the AO oscillator forms multidirectional bars in the buy zone.

Resistance levels: 1.3210, 1.3374 | Support levels: 1.3116, 1.2955
 


EURUSD - The US dollar controls the dynamics of the pair

According to data released yesterday, the volume of Industrial Production in the eurozone in July fell by 2.3% after rising by 1.1% a month earlier, which led to a decrease in the annual rate by 2.4% after increasing by 2.2% in the previous month. The negative dynamics was supported by today's data on the Wholesale Price Index in Germany, which in August added only 0.1 against the forecast of 0.5%, and in annual terms slowed to 18.9% from 19.5%.



The EURUSD pair remains within the global descending channel, declining in the direction of the support line. Technical indicators hold the sell signal, somewhat weakening it: the fast EMAs on the alligator indicator are still below the signal line, and the histogram of the AO oscillator forms new bars, being deep in the sales zone.

Support levels: 0.99, 0.975 | Resistance levels: 1.0055, 1.02
 


Apple - technical analysis

On the daily chart, the quotes remain within the global Expanding formation pattern, forming a new downward wave, which has already almost reached its intermediate target at the 61.8% Fibonacci full retracement around 146. On the four-hour chart, it can be seen that the current movement is developing according to the classical structure. After rebounding from the initial correction of 23.6% Fibonacci around 163.8, the price continued its global decline, almost breaking the intermediate correction of 50.0% Fibonacci around 151.50, which is key support for the current trend.



Technical indicators confirm the high probability of continued decline: the Alligator indicator's EMA oscillation range expands downwards, and the histogram of the AO oscillator forms downward bars in the sell zone.
 


AUDUSD - Investors are disappointed with rising unemployment in Australia

The Australian currency has been showing weakness lately, reinforced by yesterday's report on the national labor market: the unemployment rate rose to 3.5%, the first increase since September 2021. The number of unemployed rose by 14.0K to 487.7K people, the youth unemployment rate rose to 8.4%, and the employment-to-population ratio increased to 64.3% from 64.2% a month earlier. Full-time employment added 58.8K people, but part-time employment decreased by 25.3K people: citizens are striving to get a stable job in the face of constant growth in prices and rates on debt obligations.



Technical indicators reversed and now are holding a sell signal: fast EMAs on the Alligator indicator are actively moving away from the signal line, and the AO oscillator histogram forms downward bars in the sell zone.

Resistance levels: 0.677, 0.6916 | Support levels: 0.6684, 0.653
 


NZDUSD - New Zealand's economy continues to slow down

One of the drivers of the movement of quotations was the report on the state of the New Zealand economy in the second quarter, according to which the Gross Domestic Product (GDP) grew by 1.7% after falling by 0.2% a quarter earlier, while analysts expected growth by 1.0%, which, however, did not have a significant impact on the annual rate, which slowed to 0.4% from 1.2% a quarter earlier, while the forecast was 0.2%. Thus, the average annual GDP slowed down to 1.0% from 5.1% earlier. Today's data on business activity showed an increase in the Manufacturing PMI in August to 54.9 points from 53.5 points a month earlier and somewhat slowed down the downward dynamics of the instrument in anticipation of the release of statistics on Household Spending next week.



Quotes of the NZDUSD pair are traded within the global downtrend, again approaching the support line of the downstream channel. Technical indicators are holding a sell signal, which started strengthening: the fast EMAs of the Alligator indicator are below the signal line, and the histogram of the AO oscillator is trading in the sell zone, forming descending bars.

Support levels: 0.5955, 0.58 | Resistance levels: 0.6035, 0.621
 


McDonald's technical analysis

Shares of McDonald's Corp., the world's largest chain of fast-food restaurants, correct within a downtrend at 255. On the daily chart, there is a global upward correction, within which a local Head and shoulders reversal pattern is formed with the Neckline at 250. The four-hour chart shows that the price failed to realize it, but this week it may make a second attempt, in which case the support line around 245.00 will act as a local obstacle, consolidation below which will open the way to the main target at 236.



Technical indicators have completely reversed downwards: fast EMAs on the Alligator indicator crossed the signal line downwards, and the AO oscillator histogram forms bars with a downward trend in the sell zone.
 
USDCHF - Swiss economy remains under pressure

Switzerland's trade balance will be published tomorrow, which could fall to annual lows of 2.9B francs due to the continued rise in the cost of imports: this figure added 8.6% in August compared to last year's value. The State Secretariat for Economic Affairs (SECO) will publish fresh economic forecasts, which will reflect the situation with inflation, which due to rising import prices, may increase to 3.3–3.5% this month, which is another anti-record for the country.



On the daily chart, the price is correcting within the downwards corridor, falling towards the support line. Technical indicators keep a sell signal, which has weakened due to an upward correction: fast EMAs on the Alligator indicator are below the signal line, and the AO oscillator histogram has formed another downward bar in the sell zone.

Resistance levels: 0.97, 0.9843 | Support levels: 0.9587, 0.941
 
USDJPY - Trades within the global uptrend

Today, the Nikkei published an article regarding the possible continuation of the fall in Japan's gross domestic product (GDP) in the coming quarter: for the first time since 1992, the figure may fall below 4.0T dollars due to the record depreciation of the yen, which occurs due to large differences in accounting central bank rates, and if the US Federal Reserve raises interest rates this week, the Japanese currency will be under even greater pressure. Inflation data will be published tomorrow: the nationwide consumer price index may increase to 2.7% in August from 2.4% earlier, a fairly fast growth rate that strains the economy.



The trading instrument is moving within the global uptrend, holding near the year's high, around 143. Technical indicators still ignore local price fluctuations and keep a stable buy signal: the Alligator indicator's EMA oscillation range is directed upwards, and the AO oscillator histogram forms new bars well above the transition level.

Resistance levels: 144.55, 147 | Support levels: 142.1, 138.95
 

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