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 broke below the conoslidation triangle and is reaching an important downside resistance 89-89.50 zone. The support/resistance zone is being tested now and the pair has formed a triangle which could be a reversal triangle.
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. SL on the sell trade entries should be above the 1350 level.
OIL
The instrument is pulling back for a retest of the uptrend line 62 level.
Note: stay away from the trade entries for now if you are not short already.
DAX
DAX is breaking below the rising trendline and we could see a deeper pullback into the 100 SMA 11597 level.
Note: look only for the short trade entreis with the SL above 12800
S&P500
S&P500 is being rejected by the 2850 level and is pulling back. We have reached now a strong uptrend support 2540 level. The downside support is 2639
Note: look for the short trade entries for now with the SL just above the 2650 level
EURUSD
The pair is reaching the long term key upside resistance 1.25000 level. Look for a little pullback from here. A bearish wedge formation has been broken below 1.23500 level and we could see a deeper pullback into the 1.2200 level
Note: look only for the sell trade entries for now with the SL above 1.2400 level
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 the uptrend support 0.7700-0.7800 zone
Note: stay away from the trade entries if you are not short already
NZDUSD
The pair is testing the strong resistance 0.7400 level and is being rejected. Look for a deeper pullback into the 0.7150 level
Note: look only for the short trade entries for now SL above the 0.7440
USDCAD
The pair is breaking above the wedge 1.2400 level with the confirmation. We could see an extended upside nowif we will get a break above the 1.2600 level.
Note: Stay away from the trade entries for now if you are not already long
GBPUSD
The pair is reaching an important resistance 1.4300 level and is pulling back. Deper pullback is on the way all the way to 1.3500 level
Note: look only for the short trade entries with the SL above 1.4370 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. The instrument is going fo a broken neckline retest 12800 level and is rejected. The new leg lower is on the way.
Note: take the profit on the sell trade entries now and stay away from the new trades while we are testing the 200 SMA 7246 level
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.