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 is bouncing from the strong horizontal support 91.70 level and this bounce is facing the strong resistance zone 93-93.20. This zone needs to be broken for an upside continuation.
Note: waiting for a reaction from the resistance/downside support zone
XAUUSD-GOLD
Gold is correcting the upside reversal and we could see a deeper pullback into 1300.
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. This resistance is being tested now. Look for a reaction here.
Note: look for the long trade entry with the SL just below the 60 level
DAX
DAX is breaking again above the strong upside resistance 13200-13300 zone. This break is opening now a test of 13500 level soon
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 pulling back in the wedge and is broken below the downside resistance and an upside support 1.19550 level. The deeper pullback into the 1.18500-1.19000 zone could be underway.
Note: stay out of the trade entries for now
USDJPY
The pair is now in the consolidation triangle and is being rejected again by 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 rejected by the strong upside resistance 0.7850-0.7890 zone. There could be a pullback into the 0.7700-0.7750 zone before a continuation higher.
Note: look only for the short trade entries for now with the SL above 0.7890
NZDUSD
The pair is testing the strong upside resistance 0.7200 level. The daily close above is required for the upside continuation.
Note: stay away from the trade entries for now
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 is in the continuation triangle and look for the reaction from the 1.3510 and 1.3570 levels. The break and a daily close above/below will determine the strategy.
Note: stay away from the trade entries for now
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 log scale chart
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.