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 trying to break above the 95 level for an extension higher into the 98. The key daily close level is 95.20 now.
Note: look for a daily close above the 95 level, the upside support zone is 93.50-94 which is holding for now.
XAUUSD-GOLD
Gold is testing the strong long-term horizontal resistance level 1228. Daily close below this level would open further downside extension into the 1150 level. We have a daily close below 1228 and we need a confirmation.
Note: look for the short trade entries with the stop loss above the 1230 level.
OIL
The instrument is pulling back to a downside support 69.30-70 zone. The daily close above this zone is required for an upside test of 74 again. A daily close below would lead to a 66.50 level test.
Note: stay away from the trade entries.
DAX
The instrument bounced off the 12100 level and is testing the 12740 level of the resistance, also a 200 SMA before a possible pullback into the 13000 level.
Note: stay away from the trade entries for now.
S&P500
S&P500 has formed an ascending wedge, usually bearish, and is testing the strong resistance 2800-2810 zone.
Note: stay away from the trade entries for now.
EURUSD
The pair bounced again from the 1.15000 level and is pulling back into the downside support 1.16800-1.17400 zone. Look for a reaction here. Consolidation triangle has been formed and we need to see a daily close below the 1.16000 level for a test of 1.15500 level.
Note: stay away from the trade entries for now.
USDJPY
The pair is testing the rising trend line 111 level of the wedge formation. Break below this level would lead to a deeper pullback into the 110.150.
Note: stay away from the trade entries for now.
AUDUSD
The pair is testing the Pitchfork downtrend channel median line 0.7360 level and is bouncing from it. The downside support is 0.7450 and the pair is being rejected so far from it.
Note: look for now for the short trade entries with the SL above the 0.7470 on the possible triangle break.
NZDUSD
The pair formed a consolidation triangle and is testing the 0.6730 level.
Note: look for the short trade entries with the SL above the 0.6820 level.
USDCAD
The pair is rejected so far from the important 1.3350 level. We could see a pullback into the 1.3150 before an another upside continuation. The pullback is on the way and we are seeing a test of the 1.3050-1.3100 zone.
Note: look for the long trade entries with the SL below 1.3080 level on this bounce off the support zone.
GBPUSD
The pair is breaking below the strong long-term horizontal resistance 1.3100 level. A lot of the space for a downside extension.
Note: look for the short trade entries with the SL above the 1.3150 level.
Bitcoin
The instrument is pulling back to 7500-8000 zone. The rejection from this zone would lead to a downside continuation. Invalidation only on a break above the 8500 level.
Note: stay away from the trade entries for now.
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 of 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.