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 a significant break for the market and it will lead to a strategy shift to long USD. The upside support now is 96 level. The pullback is on the way and the support zone is 94.50-95.
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 zone which must hold for a downside continuation is 1220-1235. A daily close below the wedge 1205 level is required for a new downside move into the 1160 level again
Note: stay away from the trade entries for now.
OIL
The instrument is bouncing off the 63.70 upside support level. A downside continuation support now is a 69-69.50 zone. Continuation above the 70 is required for an upside reversal. The instrument seems to be forming a triangle.
Note: stay away from the trade entries for now.
DAX
The instrument is reaching a downside support 12600-12700 zone in a pullback.
Note: look for the short trade entries with the SL above 12750
S&P500
S&P500 is trying to break above the 2900 level for the upside extension higher. There is a warning signal of exhaustion reading the RSI (13) negative divergence.
Note: stay away from the trade entries for now.
EURUSD
The pair is testing the only left upside resistance 1.17000 level. If we get a daily close above this level there is a possibility of extension higher. Rejection from here is needed for the reversal lower. The pair is rejected fro the 1.17000 level. The daily close below the 1.16000 level will open the high probability short trade entries.
Note: look still for the short trade entries with the SL above the 1.17000 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 bouncing off the 1.2900 perfect support level in what seems to be a bullish flag.
Note: look for the long trade entries with the stop loss below the 1.2900 level
GBPUSD
The pair is pulling back in a news driven event to a WMA downside support 1.3000-1.3050 zone. This zone needs to hold for the downside extension. Higher probability short entries only on a break of the 1.2879 level.
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.
