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 has broken below the 94.10 level of the downside resistance for the reversal lower and a downside test of the 93-93.20 level. The downside support zone now is 94.15-94.50.
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 zone which is in progress.
XAUUSD-GOLD
Gold has bounced off the uptrend support 1195 level and has formed a triangle. We need to see a daily close above the 1215 level for the upside swing into the 1270 level.
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. We have the swing higher into the 71.50 resistance again.
Note: long trade entries should be executed on a daily close above the 71.50 level.
DAX
The instrument is bouncing off the wedge support 11900 level. This bounce is projected to produce a test of 12200-12400 zone test which is in the progress.
Note: stay away from the trade entries if you are not already long.
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 breaking above the 1.17100 level Inverse H&S neckline. Look for extension higher into the 1.19000 after this break. The upside support zone now is 1.17110-1.17300.
Note: look only for the long trade entries with the stop loss below the 1.17200 level.
USDJPY
The pair is confirming a break above the 111.600 strong resistance level. The next resistance higher is 114.
Note: look only for the long trade entries with the stop loss below the 111.600 level.
AUDUSD
The pair is reversing higher above the 0.7150 level and is extending higher into the 0.7200-0.7300 zone. This zone could provide some resistance.
Note: look only for the long trade entries with the stop loss below the 0.7150 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 invalidation.
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: look for the short trade entries with the stop loss above the 1.3130 level
GBPUSD
The pair is breaking above the key long-term 1.3050 level for an upside extension into the 1.3300-1.3400 zone. The upside support zone is 1.3100-1.31500.
Note: look only for the long trade entries with the stop loss below 1.3060 level.
Bitcoin
The instrument is testing the key 6000 level within a large consolidation and bouncing. 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.
