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 retesting the broken Inverted H&S formation and a daily close here would be important. Upside continuation could lead to a test of 96-96.50 area.
Note: the instrument is testing the strong 92-92.50 zone of support. Still looking for a bullish reaction from here. The last level of defense is 92
XAUUSD-GOLD
Gold is reacting to the 200 SMA congestion zone 1270-1280. However, we need to see a daily close above the 1310 level for the upside reversal and continuation.
Note: the instrument is making a nice positioning for a long trade. SL on the long trade should be below 1270.
OIL
The instrument is in the wedge and is retesting upper wedge border 58.400 level. The reaction zone lower is an intersection of the ST uptrend line and the rectangle 50.500-53 zone.
Note: wait for a couple of days of consolidation here before long/short entry.
DAX
DAX is testing again the 13200 level. Break above this level could lead to a retest of 13500.
Note: stay away from trading at the moment.
S&P500
S&P500 is breaking higher above the 2600 level and this break could lead to a continuation higher if confirmed.
Note: we have a strong negative RSI divergence here.Wait with the trades
EURUSD
The pair is testing the H&S reaction zone 1.18500-1.19000 and is being rejected from it. The break below the 1.17800 level is required for the downside break and continuation.
Note: allow for some consolidation here and place shorts with the SL above 1.19000. Don’t rush into the long trades
USDJPY
The instrument is in the rectangle and is moving sideways.
Note: stay out of trading at the moment
AUDUSD
The pair bounced from the 0.7500 level. This bounce has reacted to 0.7650 level and is turning lower by price action.
Note: allow for some consolidation now before a new leg lower. Look for the new short trades in case of this bearish reversal
NZDUSD
The pair is entering the downside resistance and the upside support zone 0.6790-0.6830. New short trades should be on the watch in the 0.6900-0.6950 zone.
Note: waiting for a reaction on this selling zone
USDCAD
The pair is supported by a rising TL 1.2700 level and is making a bullish signal for continuation.
Note: look for a long entry with the SL just below 1.2700 level. The pair is breaking the 1.2800 level and the next resistance is 1.2970
GBPUSD
The pair is breaking above the upside resistance 1.3300 level.
Note: Look only for the long trades here with the SL below 1.3300
Bitcoin
The instrument is reacting from 34 SMA (green line) and is making new high now. The instrument is reaching the 200% Fibonacci extension and is reacting to it. Stay away from new trades.
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.