Daily market snapshot

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 95.70 level and we will wait for a close and the confirmation because of the rising wedge third test. Now we need to see a daily close below the 95.70 to invalidate the upside continuation. For an upside continuation, we need to see a daily close above the 96.70 level. The instrument is briefly breaking above the 97 level and is not confirming the break higher.

Note: invalidation of an upside continuation only on a daily close below the 95.70 level.

 

 

 

 

XAUUSD-GOLD

Gold is pulling back into the 1200 level again. This level is the strong upside support.

Note: stay away from the trade entries for now.

 

 

 

OIL

The instrument reached the strong long-term horizontal support 53.30-55.30 support zone. A daily close below the 53.30 level could lead to an extreme downside extension which is in progress. The downside support is 53.30 level.

Note: stay away from the trade entries for now.

 

 

 

DAX

The instrument is testing the extreme long-term support confluence 11000-11200 zone. A daily close below the 11000 would lead to an extreme downside continuation.  Break above the 11300 would lead to a relief rally into the 11800 level.

Note: stay away from the trade entries for now.

 

 

 

S&P500

S&P500 is rejected from the 2750 level and we have an ongoing pullback into the 2615 level. A daily close below the 2615 level will lead to an extreme downside extension. Bounce off this level will lead to a test of the middle of the consolidation 2765 level.

Note: Look for the long trade entries on a bounce off the 2615 level with the stop loss below the 2640 level.

 

 

 

EURUSD

The pair is being rejected by the 1.14000 level again and we could see a deeper pullback into the 1.12500 level. Only a daily close above the 1.14300 level would lead to an upside swing higher into the 1.15500 level.

Note: stay away from the trade entries for now.

 

 

 

USDJPY

The pair is bouncing off the 112.100 level and we could see a swing higher into the 114 level.

Note: stay away from the long trade entries if you are not long already.

 

 

 

 

AUDUSD

The pair is breaking above the 0.7150 level and this is marking a reversal to the upside. The next big resistance is 0.7300 level. Any pullback into the 0.7150 level could be used for the first or added buy entries.

Note: look for the long trade entries with the stop loss 0.7200 level.

 

 

NZDUSD

The pair is testing now the strong resistance 0.6900 resistance. The daily close above this level would lead to an upside continuation into the 0.7400 level. The daily close below the 0.6850 level would lead to a deeper pullback into the 0.6700 level.

Note: stay away from the trade entries for now

 

USDCAD

We could see a brief pullback into the 1.3250 level which is ongoing now. A daily close above the 1.3330 is required for an upside continuation.

Note:  stay away from the trade entries for now.

 

 

 

GBPUSD

The pair is testing the 1.2780 level of the triangle line. A daily close below this level would lead to an extreme downside extension. Bounce will lead to a test of the 1.3000 level.

Note: stay away from the trade entries for now.

 

 

Bitcoin

The instrument is breaking below the strong downside resistance 5985 level for an extreme downside continuation lower. The downside support now is 5500-5600 zone.

Note: stay away from the trade entries if you are not short already. Try to sell any rallies on a bounce into the 5100 level

 

 

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.