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 breaking above the 93.30 resistance. Look for the long USD trade entry across the market and allow for one more dip to 93.50
XAUUSD-GOLD
Gold is breaking below the key level of downside continuation.The downside extension could lead to a test of 1225. Allow for some correction of the downside move.
Note: look for the short trade entries with the SL above 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. We need to see a daily close above the 58.300 for an upside continuation
Note: Stay away from the trades for now.
DAX
DAX is in the consolidation around the 12900-13000 zone. Look for the reaction from here for trades.
Note: look for the long trades only in the case of the daily close above the 13100 level. Still no clear daily close above the rectangle.
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. If we will see a daily close above the 2650 target is 2700
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 after the recent downside. The pair could retest 1.18000 and even higher if we have a bullish reversal candle today. Below the 1.1750 level, we could see a downside continuation.
USDJPY
The instrument is in the rectangle and is moving sideways. It is rejected from the 76.4% Fibo level and we could see downside test of the 112-112.300 zone. Only the daily close above 113.820 will invalidate the downside.
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 bouncing from the 0.7500 level and we are expecting a retest of the 0.7650 level.
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: The pair bounced from the key support zone and we could see an upside continuation into 0.7000-0.7100 zone
USDCAD
The pair is testing the upper rectangle line 1.2868 level
Note: Look for the short trade here with the SL just above the 1.2900 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 reached 3.272% Fibonacci extension.Wait for the reaction here consolidation here. This is not for trading.
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.