Daily market overview DXY, XAUUSD, OIL, S&P500, DAX, EURUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, GBPUSD, BITCOIN
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DXY-USDollar index
The instrument has briefly broken below the 92.50 the strong upside support level but is pulling back, so we don’t have a follow through. We need to see a daily close below the 92 level for a downside continuation.
Note: below 92 level we could see a deeper downside extension. Wait for a reaction there
XAUUSD-GOLD
Gold is correcting the downside move and it could go for 1300 level test. By breaking above this level, the downside extension is invalidated and we expect gold higher into 1350 level.
Note: Long trade entries are recommended with the SL just below 1290. The strong support is 1300 level.
OIL
The instrument broke above the 60 level and we are in the upside continuation targeting 62.50 as the next resistance
Note: look for the long trade entry with the SL just below the 60 level
DAX
DAX broke the consolidation 12900-13000 zone for the upside extension. The instrument has gone beyond the wedge retest and is testing now the LT uptrend support line and bouncing off it in volatile trade. No resistance in a way upside to 13.500.
Note: look only for the long trade entries with the SL below 13000
S&P500
S&P500 is breaking above the 2588 and is breaking above the 161.8% Fibonacci extension level. The test of 2750 level is in progress. Not seeing any signs of the pullback. Expecting a strong upside continuation into the end of the month.
Note: Only the long trade entries are recommended with the SL just below the 2680 level.
EURUSD
The pair is broke above the key upside resistance 1.19400 and is testing the strong 1.2000-1.2050 resistance zone
Note: the break above this zone is required for an upside continuation. Wait for a possible one more pullback, but only the long trade entries are required
USDJPY
The pair is now in the consolidation triangle and is testing the upper trendline 113.200. Look for the reaction from here for a long/short trade entries. Wait for a daily close.
Note: Stay away from the trade entries for now
AUDUSD
The pair is turning higher after the 0.7700 break and is breaking above the key upside resistance 0.7778 level also the 100 SMA (red line) opening the further upside.
Note: Look for the long trade entries for now with the SL below the 0.7800 level
NZDUSD
The pair is reaching the key uptrend resistance 0.7180 and we are waiting for an reaction from it.
Note: Look for the long trade entries in the case of the strong daily close above 0.7180 level for an upside extension.
USDCAD
The pair is breaking below the lower rectangle line 1.2600 level also the 100 SMA (red line) and is opening the further downside extension. The important resistance 1.2400 level has been briefly breached and we will look for a downside extension
Note: Look only for the short trade entries for now with the SL just above 1.2600 level
GBPUSD
The pair has broken above the upside resistance 1.3510 level for a continuation higher and is pulling back for a retest.
Note: look only for the long trade entries for now with the SL below 1.3450
Bitcoin
The instrument is pulling back from the 19000-20000 zone and is forming a bearish H&S formation. Below 13000 it will be triggered and the target is 8000.
Note: sell and take profit here or go short with the SL above 17500
The daily market overview is the comprehensive look at all market classes and it will give you the full daily insight of the market positioning for further actions.
Technical analysis on instruments listed here is just an indication of possible price movement and does not indicate any trade action which could be initiated by investors and members of this site.