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: the swing back to a support 91.70 level. Wait for a reaction from here. The daily close below this level would invalidate the upside continuation
XAUUSD-GOLD
Gold is consolidating above the 1310 level. Not visible resistance before 1350.
Note: Long trade entries are recommended with the SL just below 1305 level. The strong support is 1300 level.
OIL
The instrument broke above the 60 level and we are in the upside continuation targeting 62.50-64 zone as the next resistance. This resistance is being tested now. Look for a reaction here.
Note: stay away from the trade entries for now
DAX
DAX is breaking again above the strong upside resistance 13200-13300 zone. This break is opening now a test of 13500 level soon. The retest of a broken upside resistance is underway.
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: Wait for a reaction from 2750 before entering new trade entries
EURUSD
The pair is breaking above the strong upside resistance 1.20904 level and has formed a channel. Look for a reaction from here for trades.
Note: look only for a long trade entries by a price action.
USDJPY
The pair is breaking below the 200 SMA (blue line) and is consolidating below this level.
Note: Stay away from the trade entries for now.
AUDUSD
The pair is testing the upside resistance 0.7890 key level.
Note: stay away form the trade entries for now
NZDUSD
The pair is breaking above the 0.7200 level and is reversing higher. No visible resistance up to 0.7350.
Note: look for the long trade entries for now with the SL below 0.7200
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. A pullback ongoing could target 1.2550 level. The pullback is on the way and is testing the mentioned 1.2550 level.
Note: Look only for the short trade entries for now with the SL just above 1.2600 level
GBPUSD
The pair broke the triangle and is bouncing from the strong support 1.3470 level. The upside extension is on the way after the 1.3600 level break.
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.