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 before taking any action
OIL
The instrument is could retest the 58.300 and in the case of the break above this level, we could see an upside extension into the 60 level.
Note: look for the long trade entry with the SL just below the 56 level
DAX
DAX broke the consolidation 12900-13000 zone for the upside extension.
Note: look for the long trades only in the case of this break above the 13100 level with the SL just below the 13120
S&P500
S&P500 is breaking above the 2588 and is going to the 161.8% Fibonacci extension level.
Note: If we will see a daily close above the 2650 target is 2700. Only the long trade entries are recommended with the SL just below the 2650 level.
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: Looking at the 1.18400 level for the trade entries. Look only for the short trades for now with the SL above 1.18400
USDJPY
The instrument is in the rectangle and is moving sideways. The upside support for the range is now 112 level. We expect the narrow range to continue.
Note: look for the long trade entries fro now with the SL below 112
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 upside resistance is 200 SMA 0.7693 level. Looking for the trades on the break or rejection from this level.
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 is rejected from a retested broken uptrend support line. Look only for the short trade entries for now with the SL just above 0.7040 level.
USDCAD
The pair is testing the upper rectangle line 1.2868 level
Note: Look for the long trade entries on the daily close above this level
GBPUSD
The pair is pulling back from the upper Pitchfork channel line 1.3500 level
Note: Look now for the short trade entries near-term with the SL just above the 1.3340
Bitcoin
The instrument is breaking below the uptrend Pitchfork channel 19600 level. Look now for the short trade entries with the SL above the 19600
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.