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Morning market review - Wednesday, July 22, 2026

Technical analyses of 12 instruments with options data

Kacper MrukJuly 22, 2026Updated: July 22, 20261 min read

Financial markets today are dominated by a mood of fear, as reflected by the Fear & Greed index, which stands at 41. The focus of investors is on today's annual CPI inflation reading in the United Kingdom, which will be published at 6:00 (Warsaw time). In the context of monetary policy, the current Fed rate remains in the range of 3.50-3.75, which introduces additional uncertainty ahead of the upcoming FOMC meeting. In today's analysis, we will look at twelve key instruments to assess their potential reactions to this important macroeconomic data.

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Bitcoin - Daily Chart (D1)

Bitcoin - Daily Chart (D1)

On the daily chart, Bitcoin (BTCUSD) appears to be in a consolidation phase after a previous decline. The current price is around 65,883 USD, with resistance at 67,000 USD and support at 63,000 USD. Moving averages indicate a persistent downward pressure, but the candlestick formation suggests a possible trend reversal. The trading volume remains relatively low, which may indicate a lack of decisiveness among investors.

Bitcoin - 4H Chart

Bitcoin - 4H Chart

On the 4-hour chart, there is an attempt to bounce off the local support at the level of 65,000 USD. The price oscillates close to the level of 66,000 USD, with visible resistance at 66,500 USD. Technical indicators, such as RSI, indicate neutral territory, suggesting the possibility of further consolidation. A breakout of this level may lead to a test of 67,000 USD.

Bitcoin - 1H Chart

Bitcoin - 1H Chart

On the hourly chart, Bitcoin is struggling with resistance at the level of 66,000 USD. Short-term technical indicators suggest a potential correction, especially if the price fails to break the current resistance. Support is located at the level of 65,500 USD, and its breakdown could result in further downward movement.

Bitcoin - 15-minute chart

Bitcoin - 15-minute chart

The 15-minute chart shows a narrow range of fluctuations between 65,800 and 66,000 USD. Low volume indicates a lack of decisiveness in the short term. A breakout of this range could signal a short-term move, with a potential target of 66,500 USD in the case of a breakout to the upside.

Bitcoin - Options data

Options data indicates a very bullish sentiment, with a low put/call ratio of 0.48. Key call levels suggest that investors expect price increases, particularly with significant open interest at the $38 strike. On the other hand, support at put levels, such as $36, may limit potential declines. The maximum pain at $36 suggests that the market may aim for stabilization in this area.

Bitcoin - Summary

Bitcoin currently shows a neutral bias with the possibility of consolidation. Key levels are resistance at 67,000 USD and support at 63,000 USD. Options data suggests bullish sentiment, but low volume may limit potential moves. Closely monitoring the levels of 66,000 USD and 65,500 USD will be crucial for the short-term direction.

Ethereum - Daily chart (D1)

Ethereum - Daily chart (D1)

On the daily chart of Ethereum, a rebound from a local low around 1500 USD is visible, indicating a potential reversal of the downward trend. Currently, the price oscillates around 1916 USD, approaching resistance around 2000 USD. Volume is slightly increasing, which may indicate buyer interest. The nearest support is at 1800 USD. RSI indicates a neutral sentiment, but momentum suggests the possibility of further increases towards 2100 USD.

Ethereum - 4H Chart

Ethereum - 4H Chart

On the 4-hour chart, Ethereum continues its upward movement with visible higher lows and highs. Currently, the price is approaching local resistance at 1950 USD. Technical indicators, such as MACD, remain in the positive zone, supporting the continuation of the uptrend. Support in this perspective is around 1850 USD. The current volume suggests the maintenance of buying pressure.

Ethereum - 1H Chart

Ethereum - 1H Chart

The hourly chart shows consolidation after recent gains in the range of 1900-1930 USD. Short-term technical indicators, such as RSI, are close to the overbought zone, which may indicate a potential correction. Key support is at 1900 USD, while resistance is at 1930 USD. Observed volume remains stable, suggesting a lack of strong momentum in one direction.

Ethereum - 15-minute chart

Ethereum - 15-minute chart

On the 15-minute chart, there is a slight selling pressure that may lead to a test of support at the level of 1900 USD. Short-term indicators suggest possible further weakening, however, the volume does not indicate significant activity. Resistance is at the level of 1920 USD, which may limit further increases in the short time horizon.

Ethereum - Options data

Options data indicates a very bullish sentiment with a Put/Call ratio of 0.13, suggesting a dominance of call options. Key call levels are 14 USD and 15 USD, which translates into potential increases for ETHUSD. Put levels are significantly lower, indicating limited downward pressure. The maximum pain at 14 USD suggests stabilization in this area, supporting the bullish market sentiment.

Ethereum - Summary

Ethereum shows a bullish sentiment on most timeframes, with key resistance at 2000 USD. Options data supports the bullish scenario, and the dominance of call options suggests further increases. Key support is at 1800 USD, and a breakout above resistance at 1950 USD could open the way to 2100 USD. The current market sentiment and volume support the continuation of increases, but a short-term correction is possible.

Gold - Daily Chart (D1)

Gold - Daily Chart (D1)

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Gold - 4H Chart

Gold - 4H Chart

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Gold - 1H Chart

Gold - 1H Chart

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Gold - 15min Chart

Gold - 15min Chart

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Gold - Summary

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Silver - Daily Chart (D1)

Silver - Daily Chart (D1)

Error generating D1 analysis for Silver XAGUSD

Silver - 4H Chart

Silver - 4H Chart

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Silver - 1H Chart

Silver - 1H Chart

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Silver - 15min Chart

Silver - 15min Chart

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Silver - Summary

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S&P 500 - Daily chart (D1)

S&P 500 - Daily chart (D1)

On the daily chart, the S&P 500 is in a consolidation phase after a previous strong increase. The current price is oscillating around 7509 points, indicating stabilization after the recent rally. Support is located around 7450, and resistance at 7600 points. The index is moving within a narrow range, which may suggest a potential breakout in the future. The volume is moderate, which may indicate a lack of decisiveness among investors. The overall trend remains bullish, but with potential correction risks.

S&P 500 - 4H Chart

S&P 500 - 4H Chart

On the 4-hour chart, the S&P 500 continues to move sideways, oscillating in the range of 7450-7550 points. The price is returning to the upper boundary of this range, which may indicate an attempt to break through resistance. Technical indicators suggest a neutral sentiment; however, it is possible that with higher volume, a breakout may occur. Key levels are 7500 as support and 7550 as resistance. Monitoring these levels is crucial for the further direction.

S&P 500 - 1H Chart

S&P 500 - 1H Chart

The S&P 500 on the hourly chart shows stabilization around 7500 points. Recent candles indicate slight buying pressure, but there is a lack of decisive movement. Resistance at 7520 points may be difficult to break without an additional catalyst. Support is at 7480 points, and breaking this level could lead to further correction. The current trend is neutral.

S&P 500 - 15-minute chart

S&P 500 - 15-minute chart

On the 15-minute chart of the S&P 500, there is a slight upward impulse, which, however, encounters resistance at 7510 points. Short-term indicators are mixed, suggesting a lack of clear direction. Support is located at 7490, which may serve as a basis for short-term rebounds. Observing the price reaction in these areas is crucial for intraday traders.

S&P 500 - Options data

Option data for SPY indicates a very bullish sentiment with a Put/Call Ratio of 0.00. Open interest in call options dominates, particularly at levels 753 and 754, suggesting expectations for increases. The lack of activity in put options may indicate a low level of concern about declines. The max pain strategy at level 753 could be crucial for the upcoming market movements. Overall option sentiment supports a bullish scenario.

S&P 500 - Summary

S&P 500 shows signs of consolidation with a potential bullish outlook, supported by options data. Key levels are 7500 as support and 7550 as resistance. The Put/Call Ratio indicates a very bullish sentiment, which may suggest further increases. However, the Fear & Greed Index at 41 indicates some caution among investors. A key level to watch is 753 as max pain, which may define short-term movements.

Oil - Daily Chart (D1)

Oil - Daily Chart (D1)

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Oil - 4H Chart

Oil - 4H Chart

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Oil - 1H Chart

Oil - 1H Chart

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Oil - 15min Chart

Oil - 15min Chart

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Oil - Summary

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Euro/Dollar - Daily Chart (D1)

Euro/Dollar - Daily Chart (D1)

On the daily chart of EUR/USD, it is visible that the currency pair has been moving in a downward trend for several months with periodic upward corrections. Recently, the price bounced off the level of 1.1350, which may indicate an attempt at a correction upwards. Key resistance is located around 1.1450, and breaking this level could open the way for further increases. Support is at the level of 1.1300, which has been tested several times and remains a significant support level.

Euro/Dollar - 4H Chart

Euro/Dollar - 4H Chart

On the 4-hour chart, consolidation is visible after a previous decline, with a possible trend reversal formation. The price oscillates in a narrow range between 1.1380 and 1.1420. A breakout above 1.1420 could confirm a short-term reversal towards an upward direction. On the other hand, a drop below 1.1380 could suggest a continuation of the downward trend.

Euro/Dollar - 1H Chart

Euro/Dollar - 1H Chart

The hourly chart shows bullish momentum, with the price rising from the level of 1.1380 to the current 1.1410. This move may suggest a short-term rebound; however, the key resistance at the level of 1.1420 still stands in the way of larger gains. Support at the level of 1.1380 remains significant in the event of a trend reversal.

Euro/Dollar - 15-minute chart

Euro/Dollar - 15-minute chart

On the 15-minute chart, stabilization and a slight rebound from the level of 1.1400 are visible. Bulls are trying to break through the resistance at the level of 1.1415. Support at the level of 1.1400 may be tested in case of failure to break the resistance, which could lead to a short-term correction.

Euro/Dollar - Options data

Options data indicates a moderate bullish sentiment with a Put/Call ratio of 0.74. The highest interest in open interest is at call levels of $107 and put levels of $105. The maximum pain for options is $105, suggesting that the market may aim for this level in the short term. The current structure suggests that investors are prepared for moderate increases, but with hedging at levels close to the current price.

Euro/Dollar - Summary

In summary, EUR/USD shows signs of a short-term rebound; however, the key resistance at 1.1420 must be overcome to confirm a larger upward move. Support at 1.1380 is significant for maintaining the upward trend. The options sentiment is moderately bullish, suggesting the possibility of further increases, although the market remains cautious. Key levels to watch are 1.1420 as resistance and 1.1380 as support.

Pound/Dollar - Daily Chart (D1)

Pound/Dollar - Daily Chart (D1)

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Pound/Dollar - 4H Chart

Pound/Dollar - 4H Chart

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Pound/Dollar - 1H Chart

Pound/Dollar - 1H Chart

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Pound/Dollar - 15-minute chart

Pound/Dollar - 15-minute chart

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Pound/Dollar - Summary

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Australian Dollar/Dollar - Daily Chart (D1)

Australian Dollar/Dollar - Daily Chart (D1)

On the daily chart of AUD/USD, consolidation is visible after a deep decline, with key support around 0.6900. The current price is hovering around 0.6994, suggesting that the market may test resistance at 0.7050. Technical indicators indicate neutrality; however, the long-term trend remains bearish. A potential breakout above 0.7050 could shift sentiment to a more bullish stance, but currently, selling pressure is still evident.

Australian Dollar/Dollar - 4H Chart

Australian Dollar/Dollar - 4H Chart

The 4-hour chart shows that AUD/USD is struggling to break the level of 0.7000. Recent candles signal a potential continuation of the bearish trend with resistance at 0.7020. If the price remains below 0.6950, further weakness to 0.6900 is possible. Technical indicators suggest a bearish advantage, but there are no clear signals for a trend change.

Australian Dollar/Dollar - 1H Chart

Australian Dollar/Dollar - 1H Chart

On the hourly chart of AUD/USD, a triangle formation is visible with resistance at 0.7000 and support at 0.6950. The current consolidation may indicate preparation for a larger move. A break below 0.6950 could open the way for further declines towards 0.6900. Technical indicators show a slight advantage for bears, but there is a lack of clear momentum.

Australian Dollar/Dollar - 15min Chart

Australian Dollar/Dollar - 15min Chart

The 15-minute chart shows local support at 0.6970, with short-term resistance at 0.6990. Current price fluctuations suggest that investors are waiting for an impulse. If the price breaks above 0.6990, a short-term increase may occur, while a drop below 0.6970 could lead to a test of support at 0.6950.

Australian Dollar/Dollar - Options Data

The current price of the ETF FXA is $68.00, with a prevailing bearish sentiment, confirmed by a high put/call ratio of 2.26. Key support levels for put options are $66 (-2.9%) and $69 (+1.5%). Max Pain indicates a level of $70 (+2.9%), suggesting that the market may aim for this level to minimize options losses. Volume and open positions indicate greater interest in put options, which may suggest expectations of further declines.

Australian Dollar/Dollar - Summary

The sentiment for AUD/USD remains bearish, with key support at 0.6900 and resistance at 0.7050. Short-term consolidation suggests the possibility of a larger move, with a break below 0.6950 potentially leading to further declines. Options indicate a bearish sentiment, which may suggest continued selling pressure. Monitoring key support and resistance levels will be crucial for the market's further direction.

Dollar/Yen - Daily Chart (D1)

Dollar/Yen - Daily Chart (D1)

On the daily chart of USD/JPY, we observe a continuation of the upward trend, with the price reaching new highs. The upward movement is supported by strong support around 162.00, which previously acted as resistance. The trading volume remains stable, indicating a healthy market momentum. The key resistance level is now 165.00, and breaking through it may open the way for further increases. The RSI is in the overbought zone, suggesting potential corrections in the short term.

Dollar/Yen - 4H Chart

Dollar/Yen - 4H Chart

On the 4-hour chart of USD/JPY, stabilization is visible after recent increases. The price is consolidating between 162.50 and 163.50. We are observing lower volatility, which may indicate a temporary exhaustion of buying power. The support zone at 162.50 is crucial for maintaining the upward trend. A breakout above 163.50 may lead to testing higher levels.

Dollar/Yen - 1H Chart

Dollar/Yen - 1H Chart

The hourly chart shows consolidation in a narrow price range between 163.00 and 163.30. This situation may be the result of waiting for new macroeconomic impulses. MACD indicates a neutral sentiment, with the possibility of a buy signal appearing upon breaking the level of 163.30. Support is at 163.00, and its maintenance is crucial for the continuation of the upward trend.

Dollar/Yen - 15min Chart

Dollar/Yen - 15min Chart

On the 15-minute chart of USD/JPY, we see slight volatility and consolidation around the level of 163.10. The trading volume is low, which suggests a lack of decisiveness among market participants. Technical indicators are neutral, which may indicate a lack of clear direction in the short term. Key support is at 163.00, while resistance is at 163.20.

Dollar/Yen - Options data

Options data suggests a very bullish sentiment in the FXY market, with a predominance of open call positions. The put/call ratio is 0.19, indicating a dominance of call options. The key max pain level is $59, which corresponds to a potential increase in USD/JPY. The dominance of call positions suggests bullish expectations, although the high max pain level indicates possible corrections in the short term. The sentiment in the options market aligns with the technical bullish outlook for USD/JPY.

Dollar/Yen - Summary

USD/JPY is in an uptrend, with key support at 162.00 and resistance at 165.00. The options sentiment is very bullish, which supports further increases. However, the high level of technical indicators suggests the possibility of a short-term correction. Key levels to watch are 163.00 as support and 163.50 as resistance. The overall bias remains bullish, but with possible corrections.

Dollar/Franc - Daily Chart (D1)

Dollar/Franc - Daily Chart (D1)

On the daily chart of USD/CHF, a strong upward trend has been visible for several months. Currently, the price is oscillating near the level of 0.8125, which is close to recent highs. Technical indicators may suggest potential exhaustion of the trend, but there are no clear reversal signals. Key support is located at 0.8000, while resistance can be observed at 0.8150. Overall sentiment remains bullish, but investors should be aware of the possibility of a correction.

Dollar/Franc - 4H Chart

Dollar/Franc - 4H Chart

On the 4-hour chart, USD/CHF is showing consolidation after the recent rise. The price is moving within a narrow range between 0.8100 and 0.8140, suggesting a lack of clear direction in the short term. Indicators such as RSI may suggest slight overbought conditions. A break below 0.8100 could indicate a correction, while a breakout above 0.8140 would confirm the continuation of the upward trend.

Dollar/Franc - 1H Chart

Dollar/Franc - 1H Chart

The hourly chart shows that USD/CHF is oscillating around the level of 0.8125. We are observing a slight weakening of the upward momentum; however, the level of 0.8100 still serves as important support. There are no clear signals that could indicate a sudden change in direction. Investors should monitor the levels of 0.8110 as support and 0.8140 as resistance for potential movements.

Dollar/Franc - 15min Chart

Dollar/Franc - 15min Chart

On the 15-minute chart of USD/CHF, there is a slight pullback from the level of 0.8130 to 0.8120, but the overall trend on this timeframe remains neutral. Short-term support can be observed at 0.8115, and resistance at 0.8135. Indicators may suggest consolidation, which could indicate the possibility of slight movements in the near future.

Dollar/Franc - Options data

Options data shows a slight bearish sentiment with a put/call ratio of 1.03. Key call option levels are 110, 109, and 108, suggesting potential resistance levels. Put levels indicate support around 107, as well as 110 and 111. The maximum pain at 110 suggests potential price stabilization in this area. Volume and open positions indicate greater interest in put options.

Dollar/Franc - Summary

USD/CHF maintains an upward trend, with key support at 0.8100 and resistance at 0.8150. Market sentiment is mixed with moderate correction signals on shorter timeframes. Options data suggest potential resistance at higher levels, which may limit further gains. Investors should monitor key support and resistance levels as well as the development of the macroeconomic situation that could influence the further direction of price movement.

Dollar/Canadian Dollar - Daily Chart (D1)

Dollar/Canadian Dollar - Daily Chart (D1)

On the daily chart of USD/CAD, we can observe a clear upward movement, which is reflected in the trend of recent months. The price has broken the level of 1.4100, indicating a continuation of the upward trend. However, we are currently seeing a correction that may test support around 1.4050. Key resistance levels are 1.4250 and 1.4300, while support is at 1.4000. MACD and RSI suggest the possibility of further correction, so investors should exercise caution when opening new long positions.

Dollar/Canadian Dollar - 4H Chart

Dollar/Canadian Dollar - 4H Chart

On the 4-hour chart of USD/CAD, consolidation is visible after the recent rise. The price bounced off the level of 1.4100, which may suggest a short-term correction. Key support is at 1.4050, and resistance is at 1.4150. Currently, a slight decrease in volume is observed, which may indicate a weakening of the upward momentum. Technical indicators such as RSI are in the neutral zone, indicating a lack of clear direction in the short term.

Dollar/Canadian Dollar - 1H Chart

Dollar/Canadian Dollar - 1H Chart

On the hourly chart of USD/CAD, there is a slight weakening after reaching resistance at the level of 1.4100. The price is moving in a narrow range, with potential support at the level of 1.4070. The RSI indicator shows slight overbought conditions, which may suggest a short-term downward movement. The current situation requires monitoring, as the lack of clear signals may lead to further consolidation.

Dollar/Canadian Dollar - 15min Chart

Dollar/Canadian Dollar - 15min Chart

On the 15-minute chart of USD/CAD, there is slight volatility and consolidation around the level of 1.4100. Short-term support can be found at 1.4085, while resistance is around 1.4115. The RSI is in the neutral zone, suggesting a lack of clear direction. In the event of a breakout in either direction, it could indicate a short-term trend change. Currently, there are no strong signals to act.

Dollar/Canadian Dollar - Options Data

Options data indicates a moderately bullish sentiment with a put/call ratio of 0.71. The largest open interest for call options is at $80, suggesting that investors expect a potential rise to this level in the long term. The Max Pain at $80 also suggests that the market may try to approach this level. Low open interest at levels below $68 indicates limited bearish expectations. Market sentiment remains moderately bullish, which may support further increases.

Dollar/Canadian Dollar - Summary

USD/CAD shows a moderately bullish sentiment, but the current correction may test support at 1.4050. Key resistance levels are 1.4150 and 1.4250. Options data and technical indicators suggest the possibility of further increases, but investors should be cautious given the current volatility. The market remains in a state of consolidation, indicating a lack of clear direction in the short term.

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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