What to Trade on July 4-8

What to Trade on July 4-8

2022-12-16 • Updated

Last week was bearish for risky assets such as stocks, oil, gas, and crypto. S&P500 dropped 5%, Nasdaq fell by 6%, WTI and Brent slid below 110, and BTCUSD crossed the 20 000 level to the downside. Will the upcoming week change the situation across the markets? Let’s look at it in detail!

Trade ideas


The strength of the US dollar was pulling other currencies lower against it. This way, EURUSD retested June's low at 1.0400, AUDUSD fell to the low of June 2020, and USDJPY retested 136.70. This week additional volatility of the major pairs is expected with the FOMC Meeting Minutes on Wednesday and Nonfarm payrolls on Friday. If the USD keeps strengthening, EURUSD will cross the support area between 1.0400-1.03800 and target 1.0200. However, the chances of the reversal from this zone are high. If it breaks the resistance at 1.0500, a further rise to 1.0600 will be in focus. Also, USDJPY may show us interesting movements since the pair has formed a double top on the chart. Don’t underestimate the RBA Rate Statement on June 5, where the bank is expected to raise the interest rate to 1.35%.


Oil & Gold

The week was full of ups and downs for oil prices. If we look at the daily chart of both XBRUSD and XTIUSD, we notice that both instruments were balancing between 50- and 100-day SMA. Consider opening long positions for both assets when they stick above the 50-day SMA. The target for Brent will lie at $115; the next one lies at $118. As for WTI, after the breakout of $115, the target will lie at $120.

Gold finally broke the lower border of the triangle at 1800. A strong USD may pull it even lower to the next support area at $1750. If it rises back, the first resistance will lie at $1835.



Stocks moved lower last week after the Fed Chair Powell hinted at more aggressive monetary policy amid rising inflation. If a downtrend in the US stocks continues, US500 (S&P500) will cross the 3700 level and reach 3500. As for Nasdaq, after the crossover of the support at 11 000, the next target will lie at 9500.




CAD: Markets Await GDP Release
CAD: Markets Await GDP Release

During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...

XAUUSD: Markets Slow Down Ahead of NFP
XAUUSD: Markets Slow Down Ahead of NFP

Gold prices rose on Monday as the US Dollar weakened amidst speculation about potential Federal Reserve rate cuts starting in June. This weakened Dollar was partly due to improved risk sentiment pushing US Treasury yields lower. Despite facing challenges from declining yields, gold prices recovered to nearly $2,170 per troy ounce, driven by the Dollar's weakness. Federal Reserve Chair...

CAD: Signs of Growth May Persist
CAD: Signs of Growth May Persist

Canadian retail sales showed a slight rebound in February, rising by 0.1% after a 0.3% drop in January. However, this failed to fully offset the steeper decline earlier in the year, suggesting a weakening momentum in consumer spending. The increase in February was driven by gains in sectors such as sporting goods, hobby retailers, and building materials. Despite the...

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera