Relevance up to 12:00 2022-08-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
EUR/USD
Higher timeframes
After two days of deceleration and uncertainty, bears again showed activity and continued to decline, closing the previous day below the golden cross on the daily chart (1.0111). The current task is to eliminate the daily cross, then the bears' attention will be to overcome the important historical support of 1.0000 and restore the downward trend of most higher timeframes (0.9952 minimum extreme). If bullish sentiment returns to the market, the next important resistances have accumulated now in the area of 1.0188 - 1.0219 (daily cross).
H4 – H1
The main advantage on the lower timeframes now belongs to the bears. However, there has been a slight corrective deceleration in recent hours. The main reference points for the development of an upward correction today are the key levels, located at 1.0120 (central pivot point of the day) and 1.0172 (weekly long-term trend). If the decline continues, classical pivot points (1.0046 – 1.0007 – 0.9933) can provide support. In addition, the target for the breakout of the H4 cloud (1.0055 – 1.0020) also belongs to intraday targets.
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GBP/USD
Higher timeframes
Sellers yesterday managed to cope with the supports that held back the development of the movement 1.2000 (psychological level) - 1.2026 (daily medium-term trend) - 1.2046 (weekly short-term trend) and closed the day much lower. The current benchmark in this direction is the minimum extremum (1.1759), its update will allow restoring the downward trend of the higher timeframes.
H4 – H1
On lower timeframes, we observe the development of a downward trend. The first support for classic pivot points (1.1873) is currently being tested. The next supports are at 1.1819 (S2) and 1.1716 (S3). The key levels are now acting as resistance, therefore, in the event of a correction, they will meet bulls at the levels of 1.1976 (the central pivot point) – 1.2052 (weekly long-term trend).
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In the technical analysis of the situation, the following are used:
higher timeframes – Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels
H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)
