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. The daily close below 93.30 will invalidate the upside continuation
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. Another test of 93.50 is in progress.
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 test of 1270 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. 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 and we could see a downside test of 13000
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 after the bullish reversal candle yesterday. 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: looking for the reaction at 111.700 level and only short trade entries for now
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. The daily close above the 0.7692 level (200 SMA) is required for an upside continuation.
NZDUSD
The pair is testing the broken uptrend line 0.7010-0.7050 zone. We will look for reaction here for the trades
Note: The pair bounced from the key support zone and we are seeing an upside continuation into 0.7000-0.7100 zone. Staying away from the trades for now.
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 for now
GBPUSD
The pair is pulling back from the upper Pitchfork channel line 1.3500 level
Note: Look only for the long trades as long as the pair is above the 1.3240-1.3300 zone
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.