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. The instrument broke below the conoslidation triangle and is reaching an important downside resistance 89-89.50 zone. The support/resistance zone is being tested now.
Note: the swing back to a support 91 could be in progress
XAUUSD-GOLD
Gold is consolidating above the 1310 level. Not visible resistance before 1350. Testing an important 1350 level resistance and being rejected by it for a wedge test.
Note: the instrument broke below the 1350 level and we could see a deeper pullback
OIL
The instrument is pulling back for a retest of the uptrend line 64 level
Note: possible sell trade has been shown on the chart. SL should be above the 66 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. The instrument is retesting 13100-13200 zone.
Note: stay away from the trade entries for now
S&P500
S&P500 is being rejected by the 2850 level and is pulling back. The strong support zone now is 2750-2800.
Note: look for the short trade entries for now with the SL just above the 2850
EURUSD
The pair is reaching the long term key upside resistance 1.25000 level. Look for a little pullback from here. We could have now continuation or a reversal triangle.
Note: look only for the sell trade entries for now
USDJPY
The pair is bouncing from the 108.400 for a possible retest of a broken resistance, now downside support 110 level
Note: Stay away from the trade entries for now
AUDUSD
The pair is being rejected by the 0.8100 of resistance and we are seeing a pullback for a test of uptrend line 0.8020.
Note: look only for the short trade entries for now. SL should be above the 0.8150
NZDUSD
The pair is breaking above the 0.7200 level and is reversing higher. No visible resistance up to 0.7350. The support level for the long trades is 0.7250. The pair is testing the strong resistance 0.7400 level and is being rejected.
Note: look only for the short trade entries for now SL above the 0.7440
USDCAD
The pair is breaking below the key 1.2400 level for a downside continuation. Look for a pullback into this area 1.2380-1.2400 for a new short trade entries.
Note: Stay away from the trade entries for now
GBPUSD
The pair broke the above the strong resistance 1.3650-1.3700 zone and is extending higher into the 1.4000 level. The pair is reaching an important resistance 1.4300 level and is pulling back.
Note: stay away from the trade entries for now
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. The instrument is going fo a broken neckline retest 12800 level and is rejected. The new leg lower is on the way.
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.