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 broken below the strong downside resistance level 91 and is completely reversing the uptrend now. This level is now a strong downisde support.
Note: the swing back to a support 91 level. Wait for a reaction from here.
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. The upside support and the possible reversal point lower level is 62.
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: stay away from the trade entries for now because the instrument is in the flag formation
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: the next target upside level is 2850. Look only for the long trade entries with the SL below 2750
EURUSD
The pair is breaking above the strong upside resistance 1.22000 level and is now retesting this level for the support.
Note: look only for long trade entries by a price action.
USDJPY
The pair is breaking below the 200 SMA (blue line) and is consolidating below this level. This break is opening the key downside continuation test of a 110 level.
Note: Stay away from the trade entries for now.
AUDUSD
The pair has broken above the upside resistance 0.7890 key level. The next target level is 0.8070 and the strong support is 0.7900 level.
Note: stay away from the trade entries for now if you are not already long
NZDUSD
The pair is breaking above the 0.7200 level and is reversing higher. No visible resistance up to 0.7350.
Note: stay away from the new trade entries if you are not already long
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: Stay away from the trade entries for now because of the 1.2410 key level test
GBPUSD
The pair broke the above the strong resistance 1.3650-1.3700 zone and is extending higher into the 1.4000 level. The broken resistance level is now a strong support.
Note: stay away from the trade entries for now if you are not already long or place a long entry with the SL close to today’s open 1.3760 level
Bitcoin
The neckline of the H&S formation is broken and now we could see an extension into the 8000-9000 zone and even lower to 6000.
Note: sell and take profit here or go short with the SL above 13600. 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.