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 95.10-95.50 the last line of the downside continuation defense.
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 is now testing the 61.8% retracement of the last swing up from the 1170 bottom. This level needs to hold for an upside reversal.
Note: stay away from the trade entries for now.
OIL
The instrument closed above the 71.30 level and is making a case now for the upside continuation into the 78 level. Invalidation only in the case of a daily close below the 68.70 level.
Note: look only for the long trade entries with the stop loss below the 70 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 because of the 12300-12400 consolidation
S&P500
S&P500 is in the consolidation triangle above the 2900 broken level. This consolidation triangle could produce another swing higher.
Note: stay away from the trade entries for now.
EURUSD
The pair has broken the consolidation wedge and is testing the 0.75% of the Fibonacci retracement of the last swing higher 1.16000 level, making this upside reversal complex. Daily close below the 1.16300 will completely invalidate the upside reversal.
Note: stay away from the trade entries for now.
USDJPY
The pair is testing the triangle 112.870 level. A daily close above this level is required for an upside continuation into the 114 level. We have a daily close above the triangle but we need confirmation of the break.
Note: stay away from the trade entries for now.
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: 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 invalidation.
Note: look only for the long trade entries for now with the stop loss below the 0.6600 level.
USDCAD
The pair is bouncing off 1.2900 level near the 200 SMA. It is going for a test of the downside support 1.3100-1.3150 zone.
Note: stay away from the trade entries for now
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 1.3000-1.3050. We have a consolidation triangle formed and we are expecting an upside continuation on a break above the 1.3150 level.
Note: stay away from the trade entries for now.
Bitcoin
The instrument is in the triangle between 6000 and 7400 level. Look for the break above, below this level for the direction.
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.
