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. The upside is invalidated near-term and the instrument is testing the long-term upside support zone 92.50-93.
Note: Another test of 93.50 is in progress. Below 93.30 we could see a test of 92-92.50 zone test
XAUUSD-GOLD
Gold is correcting the downside move and it could go for 1300 level test. Above this level, the downside extension will be invalidated
Note: No trade entries at the moment
OIL
The instrument is testing the 58.300 and in the case of the break above this level, we could see an upside extension into the 60 level. The clear daily close above the 60 level is required for an upside continuation into the 62.50.
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. The broken wedge is being retested now.
Note: Only the long trade entries are recommended with the SL below 13000
S&P500
S&P500 is breaking above the 2588 and is going to the 161.8% Fibonacci extension level. Above this level, we could see a test of 2750 level
Note: 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.The daily close above the 1.19000 level is required for the upside continuation.
Note: Looking at the 1.18900 level for the long/short trade entries. The ongoing break above the 1.19000 level is opening the further upside. Look for the long trade entries with the SL below 1.19000 level
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, and the daily close above the 113.500 would call for a retest of the range upside 114.400 level.
Note: look for the long trade entries for now with the SL below 112
AUDUSD
The pair bounced from the 0.7500 level. The pair is turning higher after the 0.7700 break and is testing the key upside resistance 0.7778 level also the 100 SMA (red line)
Note: close some of your long trade entries and wait for the reaction
NZDUSD
The pair is testing the upside resistance 0.7050-0.7100 key resistance zone.
Note: stay away from trade entries for now
USDCAD
The pair is testing the lower rectangle line 1.2600 level also the 100 SMA (red line).
Note: stay away from the trade entries for now
GBPUSD
The pair is pulling back from the resistance downtrend 1.3500 level. The daily close above the 1.3410 level is required for the upside continuation into the 1.3580.
Note: stay out of the trades at this moment
Bitcoin
The instrument is pulling back from the 19000-20000 zone. This zone is now an upside resistance and the downside support. Look for selling the instrument for profit or shorting it for a trade with the SL just above the 19600. The buying zone and the zone for taking profit is 11000.
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.