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 bouncing off the 94 level of the support. We need to see a confirmed break above the 95.50 level for the upside extension.
Note: continuation into the 99-100 zone only in the case of a daily close above the 95.50 level. In the case of s daily close below the 95 level, we could see a swing down into the 92.50-93 level.
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 67.50 level and is holding the 67.50-70 level range.
Note: stay away from the trade entries for now.
DAX
The instrument is testing the key 11900 level after the break below the 12100 level. 11900 level is the wedge support line.
Note: stay away from the trade entries if you are not already long and wait for a break above the 12100 level if you want to enter higher probability trade entries
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. We could see another forced top 2950 test before a downside. Only a daily close below the 2850 level will invalidate one more swing higher.
Note: stay away from the trade entries for now.
EURUSD
The pair is going for a test of 1.17500 level again after the bounce from an important 1.15400 level. Only a daily close below the 1.15400 level would invalidate another swing up.
Note: look only for the long trade entries with the stop loss below the 1.15600 level.
USDJPY
The pair is in the narrow range between 109.800 to 111.600. Look at this level for a break lower or higher.
Note: stay away from the trade entries for now.
AUDUSD
The pair is trading below the 0.7150 level. We are now seeing a consolidation below this level. Now only the daily close above the 0.7150 level would invalidate the downside continuation.
Note: stay away from the trade entries for now.
NZDUSD
The pair is bouncing off the strong downside resistance 0.6500 level. Look for an upside swing into the 0.6700 level. A significant daily close below the 0.6500 level would lead to a downside continuation.
Note: look only for the trade entries for now with the stop loss below the 0.6500 level.
USDCAD
The pair is breaking below the wedge 1.3150 level and is extending the downside below the 1.3050 level.
Note: stay away from the trade entries for now
GBPUSD
The pair is testing again the 1.3050 level. Only a daily close above the 1.3050 level would lead to a larger upside swing.
Note: stay away from the trade entries for now.
Bitcoin
The instrument is testing the key 6000 level within a large consolidation. The daily close above the 8000 is required for the downside extension invalidation.
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.
