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 testing the 89.50 level of the wedge and weshould wait for a reaction from here. Bounce from here would lead to an upside test of 91.50 level.
Note: Consolidation moves.
XAUUSD-GOLD
Gold is reaching again the support 1310 level again. The break below this level is required for a continuation to 1280 level.
Note: stay away from the trade entries if you are not short already, as the instrument is testing the 1310 level again. Consolidation moves.
OIL
The instrument is breaking above the 62 level of the consolidation triangle. Wait for a confirmation before entering the trades as the pair is testing the 64.125 the next key upside resistance.
Note: stay away from the trade entries for now
DAX
DAX is rejected by the 12500 level again and this rejection is will leave the 11800 level test open again.
Note: look for the short trade entries with the SL above 12600 level.
S&P500
S&P500 is testing the 2800 level again. Look for a reaction from here for the downside reversal lower. Rejection from this level and a confirmed break below 2750 is required for dowsnide continuation.
Note: look only for the short trade entries with the SL above the 2750 level.
EURUSD
The pair is testing the 1.2400 level for a downside continuation or an upside reversal. The pair is rejected from the 1.2400 level but we need to see a break below the 1.2200 level for the downside continuation.
Note: look for the short trade entries for now with the SL above 1.2400 level
USDJPY
The pair is testing the 106 level of the broken downtrend line.
Note: stay away from the trade entries for now because this could be a temporary bounce. Take the long trade entries only in the case of a break above the 108.
AUDUSD
The pair is breaking below the strong horizontal resistance 0.7700 level and we are seeing extended downside.
Note: look only for the short trade entries with the SL above the 0.7730 level.
NZDUSD
The pair is testing the 0.7200 for the wedge break and the extended dowsnide. The key downside level is 0.7182.
Note: look for the short trade entries as the pair is breaking below the 0.7185 and the 200 SMA. SL should be above the 0.7240
USDCAD
The pair is reversing lower after the 1.3100 test. Look for a possible pullback into the 1.2800-1.3000 support zone.
Note: stay away from the trade entries for now until we see a test of 1.3200
GBPUSD
The pair is testing the strong horizontal upside resistance 1.4050 level. The reaction from here is important for the direction.
Note: stay away from the trade entries for now.
Bitcoin
The instrument is breaking below the 200 SMA level 8600 and this confirmation is opening the further dowsnide extension into the 5000 level.
Note: stay away from the trade entries for now.
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.</strong