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 breaking above the 95.80 level for the upside extension. This is significant break for the market and it will lead to strategy shift to long USD. The upside support now is 96 level.
Note:Â continuation into the 99-100 zone.
XAUUSD-GOLD
Gold has reached the first target 1160 level and is bouncing off it. The downside support is 1200-1210 zone.
Note: stay away from the trade entries for nowÂ
OIL
The instrument is bouncing off the 93.70 upside support level. A downside continuation support is 66.30-67 zone.
Note: stay away from the trade entries for now.
DAX
The instrument is breaking below the 12300 level of the strong long-term support and is now going for a retest of this level.
Note: look for the short trade entries with the SL above 12300
S&P500
S&P500 has formed an ascending wedge, usually bearish, and is testing the strong resistance 2830-2850 zone. The daily close with the confirmation above the 2850 level is required for an upside extension at the 2900 level. A break below 2790 is needed for a downside extension into 2760.
Note: stay away from the trade entries for now.
EURUSD
The pair is breaking below the 1.13600 level and is opening the downside extension into the 1.11800 level. Strong downside support is 1.14500-1.15000.
Note: look for the short trade entries with the SL above the 1.14000 level.
USDJPY
The pair is bouncing off the strong uptrend support 110.580 level. Target higher on this bounce is 113.500 level. Only the break below a 110.500 will invalidate the upside.
Note: stay away from the trade entries for now
AUDUSD
The pair is breaking below the 0.7350 triangle level which is opening the downside extension into 0.7100 level. After reaching the 0.7200 level the pair is pulling back to 0.7300-0.7350 zone of the downside support.
Note: stay away from the trade entries for now.
NZDUSD
The pair is bouncing off the 0.6530 level and we need for the price action to say will this be a deeper retracement.
Note: stay away from the trade entries for now.
USDCAD
The pair is testing now the 1.3150 level of the bullish flag break. Tis break will open further upside extension into the 1.3300 level again.
Note: look for the long trade entries for now with the SL below 1.3080 level.
GBPUSD
The pair is breaking below the 1.2850 level and is extending to the downside. The hard rejections indicate that we will not see soon any pullback. There is a narrow space for swing long trade entries which are not recommended at the moment.
Note: look for the short trade entries with the SL above the 1.2850 level for now.
Bitcoin
The instrument is testing the key level 6000 level. A break below this level will open more downside and a test of the 4000-5000 zone. The downside support for a break below 6000 is 7000-7300 zone.
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.
