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Morning market review - Monday, July 20, 2026

Technical analyses of 12 instruments with options data

Kacper MrukJuly 20, 2026Updated: July 20, 20261 min read

The morning on the financial markets brings a sense of fear, reflected in the value of the Fear & Greed index, which stands at 37. In the context of the current Fed interest rate, set at 3.50-3.75, investors are eagerly awaiting the next FOMC meeting, which will take place on July 29, 2026. Today, the market's attention will be drawn to key data from Canada, including CPI indicators, which will be published at 12:30 (Warsaw time), and the quarterly CPI from New Zealand, scheduled for 22:45 (Warsaw time). In today's analysis, we will take a look at 12 instruments to assess their reactions to the upcoming macroeconomic data.

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Bitcoin - Daily Chart (D1)

Bitcoin - Daily Chart (D1)

Error generating D1 analysis for Bitcoin

Bitcoin - 4H Chart

Bitcoin - 4H Chart

Error generating H4 analysis

Bitcoin - 1H Chart

Bitcoin - 1H Chart

Error generating H1 analysis

Bitcoin - 15-minute chart

Bitcoin - 15-minute chart

Error generating M15 analysis

Bitcoin - Summary

Error generating summary

Ethereum - Daily Chart (D1)

Ethereum - Daily Chart (D1)

On the daily chart of Ethereum, a downward trend is visible, which started after breaking the 2000 USD level. Recent sessions are characterized by low volumes, which may suggest a lack of decisiveness among investors. The current support level is around 1800 USD, while resistance is visible at 1900 USD. The RSI is in the neutral zone, indicating no clear changes in the near future.

Ethereum - 4H Chart

Ethereum - 4H Chart

On the 4-hour chart of Ethereum, a low volatility formation is visible with a slight bounce from the level of 1840 USD. The current short-term trend is slightly bullish; however, testing the nearest resistance at 1880 USD may be challenging. The moving averages indicate a possible consolidation in this area, and the MACD suggests a potential weakening of the bullish momentum.

Ethereum - 1H Chart

Ethereum - 1H Chart

The hourly chart shows that Ethereum is moving in a narrow range between 1840 and 1860 USD. Recent candles indicate increasing selling pressure, but the 1840 USD level still acts as support. Technical indicators, such as RSI, are starting to decline towards oversold levels, which may suggest a possible rebound in the short term.

Ethereum - 15-minute chart

Ethereum - 15-minute chart

On the 15-minute chart, consolidation is visible around 1845 USD, with clear resistance at 1850 USD. We are observing a slight decrease in volume, which may indicate a lack of strength to break out of the current range. Fast indicators, such as Stochastic, show oversold signals, which may lead to a short-term upward movement.

Ethereum - Options Data

Options data indicates a moderately bullish sentiment with a PUT/CALL ratio of 0.63. The highest interest is at strike levels of 14 and 15 USD, corresponding to increases of 0% and 7.1% in the market, respectively. Max Pain is at 15 USD, suggesting that the price may head in that direction in the short term. High open positions at the 15 USD level may act as a short-term magnet for the price.

Ethereum - Summary

Ethereum is currently in a consolidation phase with potential support at 1840 USD and resistance at 1880 USD. Market sentiment is moderately bullish, suggesting the possibility of increases towards 1900 USD if the support holds. Key options levels indicate a possible move towards 15 USD for the ETHA ETF, which could translate into further increases in the spot market.

Gold - Daily Chart (D1)

Gold - Daily Chart (D1)

On the daily chart of XAUUSD, we observe a continuation of the downward trend, with a clear move down from the peak at the beginning of 2026. The price is below key moving averages, suggesting further weakening. Current support is around 3980 USD, and resistance is at 4100 USD. Low volatility may indicate consolidation before further movement. Volume is moderate, which may indicate a lack of decisiveness among investors in the current situation.

Gold - 4H Chart

Gold - 4H Chart

On the 4-hour chart, gold shows signs of consolidation, with limited movement between the 4000 and 4100 USD levels. Moving averages indicate potential pressure from sellers. Key support at 3980 USD is being tested, and a break of this level could lead to further declines. Resistance is at 4100 USD, which may pose a barrier to potential gains.

Gold - 1H Chart

Gold - 1H Chart

The hourly chart shows a short-term sideways trend with low volatility. The price oscillates around the level of 4000 USD. The RSI is in the neutral zone, suggesting a lack of clear dominance from either bulls or bears. Key support remains at 3980 USD, while resistance at 4050 USD may limit potential short-term gains.

Gold - 15min Chart

Gold - 15min Chart

On the 15-minute chart, there is slight pressure from sellers. The price is oscillating around 4000 USD with several attempts to break the support at 3990 USD. Short-term indicators suggest a possible sideways movement with a slight downward tendency in case of a break below the support level.

Gold - Options Data

Options data for GLD indicates a very bullish sentiment, with a zero put/call ratio. The highest interest is at the strike of $380, suggesting that investors expect a price increase. The maximum pain at the level of $380 may lead to price increases towards that level. A large call volume indicates strong demand for bullish options, which may support the bullish sentiment in the market.

Gold - Summary

Chart analysis suggests further weakening of gold with key support at 3980 USD and resistance at 4100 USD. Options data indicates bullish sentiment, which may support potential increases. In the short term, consolidation around 4000 USD is possible, but breaking the support may lead to further declines. Attention to key macro data that may affect volatility.

Silver - Daily Chart (D1)

Silver - Daily Chart (D1)

On the daily chart of XAGUSD, there is a clear downward trend that has been ongoing for several months. The price is currently oscillating around the level of 56.54 USD, which is below the averages of the last 50 and 200 days, suggesting further downward pressure. Support is located around 55 USD, and the nearest resistance is at 58 USD. Trading volume remains moderate, which may indicate a lack of decisive buying strength. The overall market sentiment is still defensive.

Silver - 4H Chart

Silver - 4H Chart

On the 4-hour chart of XAGUSD, more dynamic movements can be seen. The price bounced off the support level of 55 USD and is currently testing the level of 56.50 USD. The MACD suggests a possible change in direction in the short term, but the RSI is in the neutral zone, which may indicate potential consolidation. The key resistance on this timeframe is the level of 57 USD.

Silver - 1H Chart

Silver - 1H Chart

On the hourly chart of XAGUSD, we observe consolidation around the level of 56.50 USD. The price is moving within a narrow range, which may suggest a lack of direction in the short term. The RSI is approaching the level of 70, which may herald a local correction. Support is at the level of 56 USD, and resistance is at 57 USD, which may attract the attention of short-term traders.

Silver - 15min Chart

Silver - 15min Chart

On the 15-minute chart of XAGUSD, a short-term rebound is visible from the level of 56.30 USD to 56.50 USD. Trading volume is variable, which may indicate speculative movements. Support is at the level of 56.40 USD, and resistance is at 56.60 USD. Momentum is temporarily bullish, but the lack of a clear direction may lead to further consolidation.

Silver - Options data

Options data for SLV shows a neutral sentiment with a put/call ratio of 0.93. Key resistance levels for call options are $53 (+6% from ATM), suggesting a potential area of interest for buyers. For put options, key support is at $48, which is -3% from ATM. Max Pain is at $53, which may indicate a potential price convergence towards this level at options expiration. Overall volume and open interest are balanced, confirming a neutral sentiment.

Silver - Summary

XAGUSD is in a downtrend with the possibility of a short-term rebound. Key levels are support at 55 USD and resistance at 58 USD. Options suggest a possible price approach to 53 USD. The overall market sentiment is neutral with a slight indication of fear (Fear & Greed Index at 37). Macroeconomic events may introduce additional volatility.

S&P 500 - Daily chart (D1)

S&P 500 - Daily chart (D1)

On the daily chart of the S&P 500, consolidation is visible after the strong increase that took place in recent months. Currently, the index oscillates around the level of 7457.69. The increases have stopped around 7500, which may suggest resistance in this area. The long-term trend remains bullish; however, the current correction requires monitoring, especially in the context of the level of 7400, which may serve as support.

S&P 500 - 4H Chart

S&P 500 - 4H Chart

On the 4-hour chart, the index is in a correction phase after reaching a local peak. Current support levels can be identified around 7450, while resistance is located around 7500. Technical indicators may suggest further weakening in the short term; however, the behavior of the price around the mentioned levels will be crucial.

S&P 500 - 1H Chart

S&P 500 - 1H Chart

On the hourly chart, there is visible selling pressure, which is manifested by a series of lower highs and lows. The price is approaching the level of 7450, which has previously acted as support. A break of this level could open the way for further declines towards 7420. On the other hand, a rebound from 7450 may indicate a potential reversal of the short-term downtrend.

S&P 500 - 15-minute chart

S&P 500 - 15-minute chart

The 15-minute chart shows dynamic movements around the level of 7450. We are observing short-term consolidations that may lead to a breakout. Support is at 7450, and resistance is at 7470. A breakout in either direction may indicate further price movement, so it is worth monitoring these levels in the context of short-term strategies.

S&P 500 - Options data

Option data shows a very bullish sentiment with a zero put/call ratio. Key call levels indicate potential increases towards 752-757. The lack of open put positions suggests no expectations for declines. Max pain at 755 suggests a possible target price level. High volume and open interest on calls confirm the bullish market sentiment. Despite the current fear in the market, the option data supports a bullish scenario.

S&P 500 - Summary

Currently, the S&P 500 is in a correction phase, but the long-term trend remains bullish. Key levels are support at 7450 and resistance at 7500. Options data suggests a bullish sentiment, which could lead to further increases towards 755. In the short term, it is important to observe the price reaction at the level of 7450. The bias remains moderately bullish, but the market should be monitored for potential changes.

Oil - Daily Chart (D1)

Oil - Daily Chart (D1)

On the daily chart of WTI, there is a clear upward trend, with the current price level at 83.81 USD. The price has broken through an important resistance level at 80 USD and is heading towards 85 USD, which could be the next key resistance level. The Relative Strength Index (RSI) indicates moderate buying strength; however, the indicator is approaching the overbought zone, which may suggest potential corrections. The current price increase is supported by the overall market sentiment, but one should be cautious of possible pullbacks.

Oil - 4H Chart

Oil - 4H Chart

On the 4-hour chart, consolidation is visible after a rapid increase from around 75 USD to the current 83.79 USD. The price is now oscillating close to the local resistance at 84 USD, which, combined with the decreasing growth momentum, may suggest a short-term slowdown. Moving averages indicate stable growth, but short-term corrections to support at 82 USD are possible.

Oil - 1H Chart

Oil - 1H Chart

On the hourly chart, the price of WTI is stabilizing after the recent increase, oscillating around 83.78 USD. We are observing a flag formation, which may suggest further upward movements after a breakout. Support is located at 82.5 USD, while resistance is at 84 USD. Technical indicators, such as MACD, remain neutral, indicating that investors are waiting for a stronger impulse.

Oil - 15min Chart

Oil - 15min Chart

On the 15-minute chart, the price remains within a narrow range between 83.50 and 84.00 USD. Short-term support is at 83.60 USD, and resistance is at 84.00 USD. Momentum indicators suggest slight weakening, which may indicate a correction before a potential next upward move.

Oil - Options data

Options data for USO indicates a moderately bullish sentiment with a Put/Call ratio of 0.57. Key call levels are 130 USD and 125 USD, suggesting expectations for further growth. Max Pain at 130 USD confirms the bullish sentiment; however, it is worth noting the increased Open Interest at put levels of 105 USD, which may act as significant support.

Oil - Summary

Analysis indicates a bullish sentiment with key resistances at 84 USD and 85 USD. The options sentiment is moderately bullish, and Max Pain at 130 USD suggests potential further increases. Short-term support is at 82 USD. Despite the bullish sentiment, investors should be prepared for possible corrections due to approaching overbought zones on the RSI.

Euro/Dollar - Daily Chart (D1)

Euro/Dollar - Daily Chart (D1)

Error generating D1 analysis for EUR/USD

Euro/Dollar - 4H Chart

Euro/Dollar - 4H Chart

Error generating H4 analysis

Euro/Dollar - 1H Chart

Euro/Dollar - 1H Chart

Error generating H1 analysis

Euro/Dollar - 15-minute chart

Euro/Dollar - 15-minute chart

Error generating M15 analysis

Euro/Dollar - Summary

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Pound/Dollar - Daily Chart (D1)

Pound/Dollar - Daily Chart (D1)

On the daily chart of GBP/USD, we see the formation of a clear upward trend after a period of consolidation. The price is approaching the resistance level around 1.3600, which could be a key level to break in order to continue the upward movement. Technical indicators suggest market strength, with RSI above 50, supporting bullish sentiment. Current support is located around 1.3300, which is an important level for potential corrections.

Pound/Dollar - 4H Chart

Pound/Dollar - 4H Chart

On the 4-hour chart, GBP/USD continues to rise, but there are signs of a possible correction. The price is moving towards the resistance level of 1.3500, where it may encounter greater selling pressure. EMA50 acts as dynamic support. Oscillators are in the neutral zone, suggesting possible consolidation before further movement.

Pound/Dollar - 1H Chart

Pound/Dollar - 1H Chart

The hourly chart shows that GBP/USD is in a slight uptrend, but with signs of exhaustion. The price oscillates around 1.3460, and technical indicators such as MACD indicate a possible decrease in momentum. The nearest support is at 1.3400, while resistance is at 1.3500. A short-term pullback is possible before further upward movement.

Pound/Dollar - 15-minute chart

Pound/Dollar - 15-minute chart

On the 15-minute chart of GBP/USD, a temporary consolidation is visible in the range of 1.3450-1.3470. Indicators such as RSI are neutral, suggesting a lack of clear direction in the near term. Short-term support is at 1.3440, and resistance is at 1.3480. Quick moves in both directions are possible, depending on the reaction to the levels.

Pound/Dollar - Options data

Options data for FXB indicates a moderately bullish sentiment with a Put/Call ratio of 0.57. The largest open interest for puts is at a strike of $128, suggesting that investors expect higher levels to be maintained. Max pain at $128 may act as a price magnet. Relatively low open interest on call strikes may suggest limited expectations for further increases above current levels.

Pound/Dollar - Summary

GBP/USD shows bullish sentiment, with key resistance at 1.3600 and support at 1.3300. In the short term, consolidation or correction is possible before further increases. Options data supports moderate gains, with max pain at $128. Key levels to monitor are 1.3400 as support and 1.3500 as resistance.

Australian Dollar/Dollar - Daily Chart (D1)

Australian Dollar/Dollar - Daily Chart (D1)

On the daily chart of AUD/USD, we observe a rebound from the support level around 0.6850. The price is heading towards the resistance level at 0.7050, which may suggest potential further increases. The moving averages are starting to flatten, indicating possible consolidation before further movement. The current sentiment is slightly bullish, but it encounters strong resistance, which may limit further growth in the short term.

Australian Dollar/Dollar - 4H Chart

Australian Dollar/Dollar - 4H Chart

On the 4-hour chart of AUD/USD, the price is approaching a local resistance level at 0.7000. The RSI indicates possible overbought conditions, which may suggest a downward correction before the next upward move. The support area is around 0.6950, which could serve as a turning point for short-term traders.

Australian Dollar/Dollar - 1H Chart

Australian Dollar/Dollar - 1H Chart

The hourly chart shows testing of the 0.7000 level, which acts as a psychological resistance. We also observe a bullish impulse, but with decreasing volume, which may suggest weakening buying strength. Support is located around 0.6975, where a rebound may occur.

Australian Dollar/Dollar - 15min Chart

Australian Dollar/Dollar - 15min Chart

On the 15-minute interval for AUD/USD, there is consolidation in the range of 0.6985-0.7000. We are observing bullish candles, but with limited momentum. Key support around 0.6985 should be monitored for a possible breakout to the downside.

Australian Dollar/Dollar - Options Data

The current price of FXA is $68.00, and the high Put/Call ratio of 3.22 indicates a dominance of bearish sentiment. Max Pain at $70 suggests potential moves towards that level. The presence of large OI at strike levels above ATM suggests that investors may expect further declines, but potential increases may be limited by option barriers.

Australian Dollar/Dollar - Summary

AUD/USD is showing slight upward tendencies but is encountering resistance at 0.7000. Market sentiment is mixed with a dominance of bearish moods in the options market. Key levels are 0.6950 as support and 0.7050 as resistance. Current macro data and a high Put/Call ratio may limit gains, suggesting a possible consolidation or correction in the short term.

Dollar/Yen - Daily Chart (D1)

Dollar/Yen - Daily Chart (D1)

On the daily chart of USD/JPY, there is a continuation of the upward trend that started a few months ago. Currently, the pair is near the peak level of 162.50, which may indicate a possible local exhaustion. The trading volume is moderate, suggesting caution among investors. Key support is near 159.00, and the nearest resistance is at 163.00. If the price breaks this level, further increases may occur. Momentum indices indicate sustained market strength, but there is a risk of correction.

Dollar/Yen - 4H Chart

Dollar/Yen - 4H Chart

On the 4-hour chart of USD/JPY, consolidation is noticeable after recent increases. The price oscillates around the level of 162.40, suggesting the possibility of a short-term pullback. Support can be located at 161.50, and resistance at 163.00. A breakout of either of these levels may indicate the direction of the next move. Current RSI levels indicate a neutral sentiment, which may encourage waiting for further signals.

Dollar/Yen - 1H Chart

Dollar/Yen - 1H Chart

On the hourly chart, there is a slight pullback around 162.40, which may indicate a short-term corrective move. Support is at 162.00, while resistance is at 162.80. We observe moderate volume, which may indicate a lack of decisiveness among investors. A significant break below 162.00 could lead to further declines in the short term.

Dollar/Yen - 15min Chart

Dollar/Yen - 15min Chart

On the 15-minute chart, USD/JPY is oscillating around 162.40, with a slight downward shift. The volume is low, which may indicate a temporary lack of direction. Short-term support is at 162.20, and resistance is at 162.60. Rapid changes may be driven by macroeconomic data, so it's worth monitoring market reactions.

Dollar/Yen - Options data

Options data analysis indicates a very bullish sentiment with a dominance of calls over puts (put/call ratio 0.15). The greatest interest in call options exists at levels above the current price, which may indicate expectations of further increases. The max pain level at $59 suggests potential increases to that level. Increased open interest at call levels $57 and $59 confirms the bullish attitude of investors.

Dollar/Yen - Summary

USD/JPY remains in an uptrend, however, short-term indicators suggest a possible correction. Key levels are support at 162.00 and resistance at 163.00. Options data suggests bullish sentiment with growth potential to the max pain level at $59. Investors should closely monitor reactions to macroeconomic events that may influence market dynamics.

Dollar/Franc - Daily Chart (D1)

Dollar/Franc - Daily Chart (D1)

On the daily chart of USD/CHF, consolidation is visible in the range of 0.8050 - 0.8100. The price encountered resistance around 0.8100, which is confirmed by several bounces from this level. Technical indicators may suggest the continuation of the current sideways trend. In the event of a breakout above 0.8100, the next resistance is at 0.8150. On the other hand, support below the current range is at 0.8000.

Dollar/Franc - 4H Chart

Dollar/Franc - 4H Chart

On the 4-hour chart of USD/CHF, there is an attempt to break the level of 0.8080, but this movement did not find continuation. Currently, the price is oscillating in a narrow range, which may indicate consolidation before the next move. A break below 0.8050 may open the way for further declines towards 0.8000, while a rise above 0.8100 may herald the continuation of the upward movement.

Dollar/Franc - 1H Chart

Dollar/Franc - 1H Chart

The hourly chart shows that USD/CHF is in a short-term downtrend with resistance at 0.8080. The price has tested this level several times but has failed to break through. Support is at 0.8050, and a break below this level could lead to further declines. The oscillators are in the neutral zone, suggesting a lack of clear direction in the short term.

Dollar/Franc - 15min Chart

Dollar/Franc - 15min Chart

On the 15-minute chart of USD/CHF, we observe movements in a narrow range between 0.8060 and 0.8080. Short-term selling pressure is visible, but there is a lack of strong impulses. A break below the level of 0.8060 may increase the downward momentum, while a rise above 0.8080 may encourage buyers to take further action.

Dollar/Franc - Options data

Options data for the ETF FXF shows a neutral sentiment with a put/call ratio of 0.94. Key resistance levels for call options are $110 (corresponding to +1.9% on USD/CHF), while support for put options is at $107 (-0.9% on USD/CHF). The maximum pain is at $110, suggesting possible upward price pressure towards this value. Volume and open positions indicate a balanced market, which may support consolidation.

Dollar/Franc - Summary

USD/CHF is currently showing neutral consolidation with key support levels at 0.8050 and resistance at 0.8100. Market sentiment is mixed, which may lead to further consolidation. Neutral options sentiment and current price levels suggest a lack of clear direction. Key macroeconomic events may influence market dynamics, requiring observation of price reactions on higher time frames.

Dollar/Canadian Dollar - Daily Chart (D1)

Dollar/Canadian Dollar - Daily Chart (D1)

On the daily chart of USD/CAD, a strong correction is visible after the previous upward trend. The current price level is around 1.4007. There is a possibility of further decline if the price breaks the support at 1.3950. The trading volume indicates increased activity, which may suggest potential market interest at current levels. The nearest resistances are around 1.4150, which may pose an obstacle for any upward rebounds.

Dollar/Canadian Dollar - 4H Chart

Dollar/Canadian Dollar - 4H Chart

On the 4-hour chart, a dominant bearish trend is visible. The price consistently tests lower levels, with resistance at 1.4050. If the selling pressure persists, further movement towards 1.3950 is possible. Momentum remains negative, suggesting that the bearish trend may continue in the short term. Technical indicators also support this scenario.

Dollar/Canadian Dollar - 1H Chart

Dollar/Canadian Dollar - 1H Chart

The hourly chart shows volatility at the level of 1.4000, where the price oscillates in a narrow range. The RSI and MACD indicators suggest a possible exhaustion of the downward movement, which may lead to a short-term rebound. Key resistance levels are at 1.4050, while support holds at 1.3980. Maintaining the price above this support may encourage buyers to enter the market.

Dollar/Canadian Dollar - 15-minute Chart

Dollar/Canadian Dollar - 15-minute Chart

The 15-minute chart indicates consolidation around the level of 1.4000. We observe slight price fluctuations, which may suggest a temporary lack of direction. The volume is moderate, which may indicate anticipation of significant data or events. On this timeframe, support can be located at 1.3985, and resistance at 1.4020.

Dollar/Canadian Dollar - Options Data

Options data for FXC shows a moderately bullish sentiment with a PUT/CALL ratio of 0.77. Key call levels include a strike of $71, suggesting a potential increase in USD/CAD of 2.9%. Max Pain at $80 indicates a possible long-term bullish target. Open interest in the call area is higher, which may support further growth of the pair if market sentiment remains. Put volume exceeds call volume, which may indicate hedging positions against declines.

Dollar/Canadian Dollar - Summary

The current sentiment for USD/CAD is moderately bearish in the short term, with key support at 1.3950. In the case of a rebound, resistance is at 1.4050. Options data suggests a moderately bullish sentiment with a long-term target of 1.4150. Important CPI data for CAD may impact the volatility of the pair. Investors should monitor the reaction at support and resistance levels before making trading decisions.

Frequently Asked Questions

How to analyze trading instruments effectively?
Effective analysis combines technical analysis (charts, patterns, indicators) with fundamental analysis (economic data, news events). Understanding both short-term price action and long-term trends is essential.
How do Fed decisions impact markets?
Fed rate decisions affect all asset classes. Higher rates strengthen USD, pressure gold prices, and often weigh on stocks. The tone of Fed communication is often more important than the decision itself.
How does inflation affect trading?
Higher inflation typically leads to rate hike expectations, strengthening the currency. However, persistent inflation can eventually weaken the economy and currency. Gold often serves as an inflation hedge.

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