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Morning market review - Thursday, July 16, 2026

Technical analyses of 12 instruments with options data

Kacper MrukJuly 16, 2026Updated: July 16, 20261 min read

Morning market review indicates a neutral sentiment, with the Fear & Greed index at 46. Today, we will pay special attention to the data on the Gross Domestic Product of the United Kingdom, which will be published at 6:00 (Warsaw time). In the context of the Fed's decisions, the current rate is 3.50-3.75, and the next FOMC meeting is scheduled for July 29, 2026. In the analysis, we will look at 12 key instruments to assess their reaction to upcoming events.

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Further Reading

Bitcoin - Daily Chart (D1)

Bitcoin - Daily Chart (D1)

On the daily chart, Bitcoin is in a consolidation phase after the recent drop from the level of 68,000 USD. The current price is hovering around 64,664 USD, which is close to the local support at 64,000 USD. Key resistances are at the levels of 66,000 USD and 68,000 USD, which have been tested previously. Technical indicators suggest a potential rebound, but there is a lack of a clear direction. It will be crucial whether the price holds above the support, which may indicate further increases.

Bitcoin - 4H Chart

Bitcoin - 4H Chart

The 4-hour chart shows that Bitcoin is trying to regain strength after falling below 65,000 USD. The price is approaching resistance at 65,000 USD, which has been tested multiple times. Technical indicators, such as RSI, are neutral, suggesting a lack of a clear trend. Staying above 64,000 USD may favor further increases, while a drop below this level could lead to testing 62,000 USD.

Bitcoin - 1H Chart

Bitcoin - 1H Chart

On the hourly chart, Bitcoin shows fluctuations in the range of 64,500 USD - 65,000 USD. There is an attempt to break above 65,000 USD, but there is a lack of strength for further increases. Short-term support is at the level of 64,500 USD. Indicators show decreasing volatility, which may suggest the possibility of a larger movement in the near future.

Bitcoin - 15-minute chart

Bitcoin - 15-minute chart

The 15-minute chart shows that Bitcoin is oscillating close to the level of 64,664 USD. The price is moving in a narrow range, indicating a lack of decisiveness. Short-term support is at 64,600 USD, and the nearest resistance is at 64,800 USD. Currently, there is no clear direction, which may suggest waiting for a larger move.

Bitcoin - Options data

Current options data indicates a moderately bullish sentiment with a put/call ratio of 0.53. Key levels for call options are 45 USD and 50 USD, indicating bullish expectations. On the other hand, put levels suggest support at 34 USD and below. The max pain level at 45 USD may indicate a potential price drive towards this level, which aligns with the moderately bullish sentiment.

Bitcoin - Summary

Bitcoin is in consolidation with key support at 64,000 USD and resistance at 65,000 USD. Market sentiment is moderately bullish, which may suggest further increases, especially if it holds above 64,000 USD. Key levels to watch are 66,000 USD and 68,000 USD. The lack of clear signals from short-term charts suggests caution and waiting for a larger move.

Ethereum - Daily Chart (D1)

Ethereum - Daily Chart (D1)

On the daily chart of Ethereum, a clear upward trend has been observed, with the price level currently around 1917 USD. The price has broken through the key resistance at 1900 USD, which may indicate further upward potential towards 2000 USD. The RSI indicator is close to the overbought zone, suggesting a possible correction in the near future. Trading volumes are moderate, which supports the current upward movement, but the lack of a clear increase in volume may limit the pace of growth.

Ethereum - 4H Chart

Ethereum - 4H Chart

On the 4-hour chart, Ethereum continues to rise, reaching local peaks. The price is consolidating around 1920 USD, which may indicate preparation for the next move. Technical indicators show slight overbought conditions, which may suggest a short-term pullback. The main support is at 1850 USD, and its maintenance is crucial for the continuation of the upward trend.

Ethereum - 1H Chart

Ethereum - 1H Chart

The hourly chart shows consolidation after the recent strong increase. The price oscillates around 1917 USD, with slight fluctuations. The RSI is neutral, with no clear buy or sell signals. The current support level is 1900 USD, and resistance is at 1950 USD. Staying above support may lead to testing higher resistance levels.

Ethereum - 15-minute chart

Ethereum - 15-minute chart

On the 15-minute chart, a sideways movement is visible, with a slight advantage for sellers. The price remains close to 1917 USD. The area of 1905-1910 USD acts as short-term support, while 1925 USD serves as resistance. The volume is low, indicating a lack of market conviction in the short term.

Ethereum - Options data

Options data analysis shows a neutral sentiment with a Put/Call ratio of 0.81. The largest open call positions are at levels close to the current price, suggesting a lack of clear direction. The Max Pain level at 10 USD is significantly below current prices, which may indicate a low risk of declines in the near future. The call and put volume is similar, confirming the market's neutrality.

Ethereum - Summary

Ethereum is showing an upward trend with key resistance at 2000 USD and support at 1900 USD. The current market sentiment is neutral, which is reflected in the consolidation on lower timeframes. Technical indicators suggest a possible short-term correction; however, the overall trend remains bullish. Key levels to watch are 1850 USD as support and 1950 USD as the next resistance.

Gold - Daily Chart (D1)

Gold - Daily Chart (D1)

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Gold - 4H Chart

Gold - 4H Chart

Error generating H4 analysis

Gold - 1H Chart

Gold - 1H Chart

Error generating H1 analysis

Gold - 15min Chart

Gold - 15min Chart

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Gold - Summary

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Silver - Daily Chart (D1)

Silver - Daily Chart (D1)

On the daily chart of XAGUSD, a downward trend is noticeable, which has been ongoing for several months. The price oscillates around 57 USD, indicating selling pressure. It is worth noting the support around 55 USD, which may serve as a key defense level against further declines. Resistance is located in the area of 60 USD, where a trend reversal may occur if buyers gain the upper hand. The current volume suggests moderate market activity, which may indicate the possibility of further consolidation before a larger move.

Silver - 4H Chart

Silver - 4H Chart

On the 4-hour chart, the price of silver continues its downward trend, with a clear resistance around 58 USD. Current support is near 56 USD, and breaking this level could lead to further declines. Oscillators indicate a possible oversold market, which may suggest a short-term rebound. However, the lack of significant upward volume suggests caution before larger upward moves.

Silver - 1H Chart

Silver - 1H Chart

On the hourly chart, there is a downward pressure with a resistance level around 57.50 USD. The price is moving within a narrow range, suggesting potential consolidation. Support at 56.80 USD is crucial for short-term investors. We are observing a decrease in volume, which may suggest that investors are waiting for new catalysts to make trading decisions.

Silver - 15min Chart

Silver - 15min Chart

The 15-minute chart shows short-term price fluctuations with resistance at 57.20 USD. Support around 57 USD acts as a local barrier against further declines. The current low volume may indicate a lack of market conviction and the possibility of quick, short-term price movements.

Silver - Options Data

Options data indicates a very bullish sentiment with a dominance of call options over put options. The highest activity in call options is at the strike of 60 USD, suggesting that investors expect price increases. The max pain level, which is 60 USD, also indicates a potential market drive towards this level. A low put/call ratio of 0.03 confirms the optimistic attitude of investors towards future price movements of silver.

Silver - Summary

Analysis of charts and options data indicates downward pressure in the short term, but with potential for a rebound towards 60 USD, according to options data. Key support is at 55 USD, and resistance is in the 60 USD area. A breakout of either of these levels could determine the further direction of price movement. The current market sentiment is bullish, which may support increases in the medium term.

S&P 500 - Daily chart (D1)

S&P 500 - Daily chart (D1)

On the daily chart of the S&P 500, a continuation of the upward trend is visible, with the price approaching the level of 7600. This level may act as resistance, which has been tested previously. Technical indicators suggest the possibility of further increases, but the proximity of the resistance level may lead to consolidation or a short-term correction before further upward movement.

S&P 500 - 4H Chart

S&P 500 - 4H Chart

On the 4-hour chart, it can be seen that the index is maintaining itself in an upward channel. Recent candles indicate increasing demand, but near the level of 7600, we can expect heightened selling activity. Momentum indicators remain positive, suggesting that the upward trend may continue, provided there are no stronger supply reactions.

S&P 500 - 1H Chart

S&P 500 - 1H Chart

The hourly chart shows that the S&P 500 is approaching a key resistance around 7600. There is an increase in volume, which may indicate greater investor interest. If the price breaks through this level, further upward movement is possible. On the other hand, a failed breakout may lead to a short-term correction towards 7500.

S&P 500 - 15-minute chart

S&P 500 - 15-minute chart

On the 15-minute chart, attempts to break the level of 7600 are visible, but with increasing volatility. We observe a struggle between buyers and sellers. Key support is at the level of 7550, and breaking this level could accelerate the correction. However, the current upward pressure suggests that buyers may still try to push higher.

S&P 500 - Options data

Options data indicates a very bullish sentiment, with a Put/Call ratio of 0.00, which means there is no interest in Put options. High volumes for Calls, especially at levels $760 and $764, suggest expectations of further increases. The Max Pain level at $760 may act as a price magnet, increasing the likelihood of reaching this level before the options expiration.

S&P 500 - Summary

S&P 500 shows bullish sentiment with key resistance at 7600. Unless there is a stronger supply reaction, the upward trend may continue. Key support is at 7550. Options data supports further increases, and sentiment remains positive. Careful observation of the 7600 level is crucial, as a breakout could open the way for further gains.

Oil - Daily Chart (D1)

Oil - Daily Chart (D1)

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Oil - 4H Chart

Oil - 4H Chart

Error generating H4 analysis

Oil - 1H Chart

Oil - 1H Chart

Error generating H1 analysis

Oil - 15-minute chart

Oil - 15-minute chart

Error generating M15 analysis

Oil - Summary

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Euro/Dollar - Daily chart (D1)

Euro/Dollar - Daily chart (D1)

On the daily chart of EUR/USD, an upward trend is visible after a rebound from a local low around 1.1300. Currently, the price is at 1.1467, approaching resistance at 1.1500. Fresh momentum indicates the possibility of further increases; however, the key resistance at 1.1500 may pose a challenge. Technical indicators, such as RSI, suggest that the market is not yet overbought, which allows room for further increases.

Euro/Dollar - 4H Chart

Euro/Dollar - 4H Chart

On the 4-hour chart of EUR/USD, there is a continuation of the upward trend after breaking the level of 1.1400. Increased buying activity may indicate further increases towards 1.1500. The current consolidation above 1.1450 suggests a possible acceleration if this level is maintained as support. Key support is now at the level of 1.1400.

Euro/Dollar - 1H Chart

Euro/Dollar - 1H Chart

The hourly chart of EUR/USD shows slight consolidation near 1.1467, with the possibility of further increases. The price remains above the moving averages, suggesting short-term support for bulls. A break above the level of 1.1475 may open the way to test 1.1500, while support at 1.1450 remains crucial in the event of a correction.

Euro/Dollar - 15-minute chart

Euro/Dollar - 15-minute chart

On the 15-minute chart of EUR/USD, we observe stabilization in a narrow range between 1.1460 and 1.1470. The price seems to be preparing for a breakout, and technical indicators suggest the possibility of increases. A break above 1.1470 could lead to further upward movements, while the nearest support is at 1.1455.

Euro/Dollar - Options data

Options data for FXE indicates a very bullish sentiment with high open interest on calls, particularly at the levels of $105 and $109. A low put/call ratio of 0.20 further supports bullish expectations. Max pain at $109 suggests that the market may aim for this level, which aligns with the current upward trend on EUR/USD. The volume of calls exceeds the volume of puts, which also confirms the dominance of buyers.

Euro/Dollar - Summary

EUR/USD shows a bullish bias with key resistance at 1.1500. Support at 1.1450 should be monitored in case of a correction. Options data confirms bullish sentiment with a low put/call ratio. Key levels of call options suggest potential increases towards 1.1500 and above. Overall market sentiment remains neutral, but macroeconomic data may impact volatility.

Pound/Dollar - Daily Chart (D1)

Pound/Dollar - Daily Chart (D1)

On the daily chart of GBP/USD, we observe a significant increase approaching resistance around 1.3600. The current trend is bullish, confirmed by higher lows and highs. Currently, the pair is trading around 1.3536. The nearest support is around 1.3400, and a break of this level could indicate a potential correction. Technical indicators, such as RSI, are approaching overbought levels, which may suggest a potential slowdown in the upward movement.

Pound/Dollar - 4H Chart

Pound/Dollar - 4H Chart

On the 4-hour chart of GBP/USD, it can be seen that the pair is holding above 1.3500, which suggests a continuation of the upward trend. Current support is strong around 1.3480. A break of this level could trigger a deeper correction. The movements are dynamic, and the volume suggests interest from buyers. The nearest resistance is at 1.3600, and breaking through it could open the way for further increases.

Pound/Dollar - 1H Chart

Pound/Dollar - 1H Chart

On the hourly chart of GBP/USD, consolidation is visible after recent increases. The pair is moving in a narrow range between 1.3520 and 1.3550. In the case of a breakout above 1.3550, further increases can be expected, while a break of support at 1.3520 may suggest a short-term correction. Technical indicators indicate neutral sentiment, which may suggest a lack of strong direction in the short term.

Pound/Dollar - 15-minute chart

Pound/Dollar - 15-minute chart

On the 15-minute chart of GBP/USD, stabilization is visible after previous increases. The pair oscillates around the level of 1.3535, suggesting potential accumulation. Support is at 1.3525, while resistance is at 1.3545. A short-term breakout beyond this range may indicate the further direction of movement. The current volume does not indicate significant changes in the near future.

Pound/Dollar - Options data

Options data indicates a strong bullish sentiment with a low put/call ratio of 0.44. The largest open interest for calls is at the $136 strike, suggesting expectations for rises above current levels. Support for puts is located at the $122 strike, which may act as a barrier for declines. Max pain at the $122 level suggests that options may expire favorably for call holders if the price remains above this level.

Pound/Dollar - Summary

GBP/USD is currently in an uptrend, with key support at 1.3400 and resistance at 1.3600. Market sentiment is positive, supported by options data indicating bullish expectations. Key levels to watch are 1.3520 as support and 1.3550 as short-term resistance. Macroeconomic data and political events may influence the pair's volatility in the coming days.

Australian Dollar/Dollar - Daily Chart (D1)

Australian Dollar/Dollar - Daily Chart (D1)

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Australian Dollar/Dollar - 4H Chart

Australian Dollar/Dollar - 4H Chart

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Australian Dollar/Dollar - 1H Chart

Australian Dollar/Dollar - 1H Chart

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Australian Dollar/Dollar - 15min Chart

Australian Dollar/Dollar - 15min Chart

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Australian Dollar/Dollar - Summary

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Dollar/Yen - Daily Chart (D1)

Dollar/Yen - Daily Chart (D1)

On the daily chart of USD/JPY, consolidation is visible after the previous uptrend. The current price oscillates around the level of 162.150, indicating strong support around 160.000 and resistance at 163.000. Moving averages suggest a continuation of the uptrend; however, the current upward momentum seems to be weakening. Technical indicators suggest that a downward correction is possible if the price does not break above the level of 163.000.

Dollar/Yen - 4H Chart

Dollar/Yen - 4H Chart

The 4-hour chart shows an attempt to bounce off the level of 161,800, with local resistance at 162,500. The RSI and MACD indicators show signs of improvement, which may indicate short-term bullish momentum. However, the lack of a clear breakout above 162,500 may limit further gains. Monitoring the level of 162,500 will be crucial for further price dynamics.

Dollar/Yen - 1H Chart

Dollar/Yen - 1H Chart

On the hourly chart, there is consolidation in a narrow range between 162,000 and 162,300. Momentum indicators are neutral, and trading volume suggests a lack of a decisive direction. Short-term support is at 162,000, and resistance is at 162,300. A breakout of one of these levels may indicate the future direction of price movement.

Dollar/Yen - 15min Chart

Dollar/Yen - 15min Chart

The 15-minute chart shows slight fluctuations in the range of 162,000 - 162,200. Currently, there is no clear momentum in either direction. The RSI indicators are neutral, suggesting a lack of buying or selling pressure. Monitoring the level of 162,100 may be crucial for short-term investors looking for potential entry or exit signals.

Dollar/Yen - Options data

Options data indicates a very bullish sentiment with a low put/call ratio of 0.16. Key call levels are $58 (3.6% increase) and $57 (1.8% increase), which suggests expectations for a continuation of USD/JPY gains. Max Pain at $58 suggests that investors may aim for an increase in the price of FXY, which translates to a potential rise in USD/JPY. High open interest in calls confirms bullish expectations, which may support further increases in the pair.

Dollar/Yen - Summary

USD/JPY shows signs of consolidation with potential bullish momentum. Key support is at 161.800, and resistance is at 163.000. Options data supports a bullish outlook, which may suggest further increases, but a lack of breakout at key levels could limit price movements. Investors should watch the reaction at the 162.500 level as a potential directional signal. The bias remains slightly bullish, but with the possibility of a correction.

Dollar/Franc - Daily Chart (D1)

Dollar/Franc - Daily Chart (D1)

On the daily chart of USD/CHF, it can be seen that the pair has been in an uptrend since the beginning of the year. The recent attempt to reach the level of 0.81500 was rejected, which triggered a correction to the level of 0.80500. Currently, the price is oscillating around the level of 0.80600, suggesting consolidation. Key support is located around 0.80000, and resistance at 0.81000. Moving averages indicate a continuation of the uptrend; however, the RSI is approaching the overbought zone, which may limit further increases.

Dollar/Franc - 4H Chart

Dollar/Franc - 4H Chart

On the 4-hour chart of USD/CHF, a correction is visible after the increases. The price is below the level of 0.81000 and is aiming to test support around 0.80400. Technical indicators such as MACD and RSI indicate possible further selling pressure. It is worth observing the price reaction at the level of 0.80400, which may determine the further direction of movement.

Dollar/Franc - 1H Chart

Dollar/Franc - 1H Chart

The hourly chart shows that after falling below 0.80600, the pair is trying to bounce back from the level of 0.80500. Short-term support is at the level of 0.80450. Technical indicators suggest a possible attempt to bounce, however, the lack of a clear upward momentum indicates the possibility of further consolidation in the short term.

Dollar/Franc - 15min Chart

Dollar/Franc - 15min Chart

On the 15-minute chart of USD/CHF, there are signs of short-term consolidation around the level of 0.80600. The price is forming a narrow channel, and technical indicators such as RSI indicate a neutral sentiment. The nearest support is at 0.80550, and resistance is at 0.80650.

Dollar/Franc - Options data

Options data for FXF shows a strongly bullish sentiment with a low put/call ratio of 0.22. Most open call positions are located close to the current FXF price, suggesting expectations for an increase in USD/CHF. Maximum pain levels at $108 indicate a balance between buyers and sellers in the options market. High open interest at $108 supports the current price level as a key support area in the short term.

Dollar/Franc - Summary

USD/CHF is currently consolidating around 0.80600, with key support at 0.80400 and resistance at 0.81000. Technical indicators suggest the possibility of a continuation of the upward trend, however, the RSI indicates a potential short-term correction. The bias is slightly bullish, due to the bullish sentiment from the options market and stable support at the level of 0.80400.

Dollar/Canadian Dollar - Daily Chart (D1)

Dollar/Canadian Dollar - Daily Chart (D1)

On the daily chart of USD/CAD, we observe a correction after a previous strong upward movement. Currently, the price oscillates around 1.4040, which may indicate consolidation or an attempt to reverse the trend. Key support is located around 1.3900, where there have been previous price reactions. The bullish sentiment may persist if the price manages to break above 1.4100, which would open the way for further increases towards 1.4250.

Dollar/Canadian Dollar - 4H Chart

Dollar/Canadian Dollar - 4H Chart

On the H4 chart, a descending channel is visible after reaching a peak around 1.4300. The price is testing support around 1.4030. A break below this level could lead to further declines towards 1.3950. On the other hand, if the price bounces off the support, a return to the level of 1.4100, which is a local resistance, is possible.

Dollar/Canadian Dollar - 1H Chart

Dollar/Canadian Dollar - 1H Chart

The hourly chart shows a slight consolidation between 1.4030 and 1.4050. The current trend is slightly bearish, but there is a lack of clear momentum. A breakout above 1.4050 may signal a short-term strengthening of the US dollar with a target at 1.4070. Conversely, a drop below 1.4030 could open the way for further declines.

Dollar/Canadian Dollar - 15-minute Chart

Dollar/Canadian Dollar - 15-minute Chart

On the 15-minute chart, consolidation around 1.4040 is visible. The price is moving within a narrow range, indicating a potential preparation for a larger move. A breakout above 1.4050 may signal a short-term buy signal, while a drop below 1.4030 could lead to further declines.

Dollar/Canadian Dollar - Options Data

Option data indicates a very bullish sentiment with a low put/call ratio of 0.34. Key call levels at $81 are far from the current price, suggesting limited expectations for significant increases. However, the proximity of the $70 strike indicates moderate upside potential. Support at put levels around $63 suggests a hedge against declines. Max pain at $81 suggests that the market may aim for a price rally.

Dollar/Canadian Dollar - Summary

The current sentiment on USD/CAD is mixed with a slight upward bias. Key support is at 1.4030, and resistance is at 1.4100. Options data suggest moderate upside potential. In the event of a breakout above 1.4100, a move towards 1.4250 is possible. The market remains sensitive to macroeconomic data, particularly regarding inflation and central bank 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.

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