Daily market overview EURUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, GBPUSD, BITCOIN
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USDJPY
The pair is testing the previously broken downside breakout resistance 103.400 and a confirmed break is required for the downside extension which is ongoing now. It needs to break above 104 .50 for the upside reversal relief.
Note: stay away from the trade entries for now
EURUSD
The pair is breaking above the long-term falling trend line 1.21000 and is pulling back for the retest. A break above 1.2170 is needed for the upside continuation.
Note: look for the long trade entries with the stop loss below 1.21000
AUDUSD
The pair is breaking above a strong upside resistance of 0.7350 for a complete reversal higher to 0.7800. near-term soft support for an uptrend is 0.7500 and lower from here is 0.7350-0.7400. We are testing the bullish flag.
Note: look for the long trade entries with the stop loss below 0.7600
NZDUSD
The pair has formed an Inverse H&S formation for a complete upside breakout reversal and is breaking a neckline 0.6780 for a continuation higher. Target reached.
Note: looking to add to a new long trade on the bounce off support 0.7160 which is happening now
USDCAD
The pair is pulling back to retest the 1.2850-1.2900 zone. Only a break above the 1.3000 will invalidate the downside continuation, and the pair is rejected again from 1.2850.
Note: look for the short trade entries with the stop loss above 1.2850
GBPUSD
The pair has broken above the strong upside resistance of 1.3100 and is going for a 1.4000 supported by 1.3450-1.3500.
Note: look for the long-trade entries with the stop loss below 1.3650
Bitcoin
The instrument has broken above the 24000 and is going for a 50000 target supported by the 30000-31000 zone which will be on a test now.
Note: taking profit and looking to buy again
