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 retesting the broken uptrend line of the rectangle 95.30-95.60 zone. This is also the area of the 61.8% Fibonacci retracement. We are expecting heavy rejection from here and continuation lower. Our view is unchanged the DXY is in the topping pattern.
Note: continuation into the 99-100 zone only in the case of a confirmed daily close above the 95.60 level.
XAUUSD-GOLD
Gold is testing the confluence of the upside resistance 1205-1210. The upside support for this break higher above the zone is 1185-1193 zone.
Note: look only for the long trade entries now with the stop loss below the 1180 level.
OIL
The instrument is reaching the upper channel resistance 76 level after the significant daily close above the 71 level. After the pullback, we could see another test of the 76 level.
Note: look only for the long trade entries with the stop loss below the 72.70 level.
DAX
The instrument is testing the wedge support 11800-11900 zone This zone should hold for another swing higher into the 12200-12400 zone.
Note: look for the long trade entries with the stop loss below the 11800
S&P500
S&P500 is testing the strong horizontal upside support 2870 level, which is also the intersection with the uptrend line.
Note: look for the long trade entries for now with the stop loss below the 2900 level.
EURUSD
The pair is testing the strong confluence upside support zone 1.14500-1.1500 zone. This is the last line of deence for the possible reversal higher in the broadening wedge.
Note: look for the long trade entries with the stop loss below the 1.14300 level.
USDJPY
The pair is rejected by the 114 level and has pulled back into the 112.750 support. W expect a swing higher from here for another retest of the 114
Note: look for the long trade entries for now with the stop loss below the 112.600 level.
AUDUSD
The pair is testing the falling wedge lower line 0.7050 level. This level needs to hold for the reversal higher and revisit of the 0.7150 level again.
Note: look for the long trade entries for now with the stop loss below the 0.7030
NZDUSD
The pair is in the falling rectangle (usually bullish), with the support now at the 0.6400-0.6450 zone. This zone needs to hold for the upside extension continuation.
Note: look for the long trade entries with the stop loss below the 0.6400
USDCAD
The pair is testing the strong confluence of the upside resistance now downside support 1.3000 level. We expect a rejection from here and the downside continuation.
Note: Look for the short trade entries with the stop loss above the 1.3000 level.
GBPUSD
The pair is reversing from the significant confluence of the support 1.2900-1.2950. Higher probability trade entries only in the case of a break above the 1.3100 level.
Note: look for the long trade entries with the stop loss below the 1.2950 level.
Bitcoin
The instrument is strongly supported by the 6000-6400 zone. We expect an upside continuation into the key upside resistance 6850 level.
Note: look only for the long trade entries with the stop loss below the 6100
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.
