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 and we need to see a daily close above the 93.30 level
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: stay away from taking positions as the instrument is testing the key 1277 level
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: Look only for the short trade entry here with the SL above 58.350.
DAX
DAX has reversed from the 13250 level and is now breaking below the 13000 level.
Note: look only for short trades for now with the SL just above 13200.
S&P500
S&P500 is breaking below the recent top. This break if confirmed could lead to a downside continuation only in the case of a daily close below 2550 level. No downside continuation, the instrument is testing the top again.
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. Don’t rush into the 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: the pair is in the triangle at the moment look for new short trades here. The daily close below 0.7550 is required for the downside continuation
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: Stay away from the trades at the moment
USDCAD
The pair is supported by a rising TL 1.2700 level and is making a bullish signal for continuation.
Note: stay away from the trades for now and look for a reaction from the 1.2700 level
GBPUSD
The pair is breaking above the upside resistance 1.3300 level and has reached the 1.3500 level where is pulling back
Note: Look only for the long trades on a retest of 1.3300 level
Bitcoin
The instrument is reaching the 200% Fibonacci extension and is reacting to it. Bearish rejection. Wait for the consolidation here.
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.