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. The pullback is on the way and the support zone is 95-95.50.
Note: continuation into the 99-100 zone. The pullback zone must hold.
XAUUSD-GOLD
Gold has reached the first target 1160 level and is bouncing off it. The downside support is 1200-1210 zone.
Note: look for the short trade entries with the stop loss above the 1205 level.
OIL
The instrument is bouncing off the 63.70 upside support level. A downside continuation support is 66.30-67 zone. Continuation above the 70 is required for an upside reversal.
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. Only a daily close above the 12550 level will invalidate another test of 12100.
Note: look for the short trade entries with the SL above 12400
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 pulling back to a downside support zone 1.15500-1.16000 zone. Only a daily close above the 1.16000 level will invalidate the downside. A daily close below the 1.15000 level could lead to a downside continuation.
Note: look for the short trade entries with the SL above the 1.16000 level.
USDJPY
The pair is in the narrow range between 109.800 to 111.230. Look at this level for a break lower or higher.
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: look for the short trade entries with the stop loss above the 0.7400 level since the RR is favorable for shorts.
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. The downside support zone is 0.6680-0.6750 zone.
Note: look for the short trade entries with the stop loss above the 0.6740 level.
USDCAD
The pair is pulling back to 1.2950-1.3000 support zone again. The bounce off this zone is required for an upside continuation. Higher probability long tarde entries only in the case of the daily close above the 1.3100 level.
Note: stay away from the trade entries for now.
GBPUSD
The pair is breaking below the 1.2850 level and is extending to the downside. This is also the pullback level for the downside continuation We need to see a reaction from here on this ongoing pullback into 1.2850-1.2900 zone.
Note: stay away from the trade entries 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.
