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 96.500 to invalidate the upside continuation. For an upside continuation, we need to see a daily close above the 96.70 level. The instrument is being rejected again by the 97 level.

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

 

 

 

XAUUSD-GOLD

Gold is trying to break the 1240 level for the upside continuation into the 1275 level.

Note: stay away from the trade entries for now.

 

 

OIL

The instrument is testing the strong downside resistance 50.30 level. This level is also a Fibonacci support level and we have a bounce from here to retest the 53.60-56 zone.

Note: stay away from the trade entries for now.

 

 

DAX

The instrument is back in the wedge and is consolidating between 11000 and 11400 level. Daily clos below the 10900 level would lead to an extreme downside continuation. Bounce will lead to a test of 11500 level.

Note: stay away from the trade entries for now.

 

 

S&P500

S&P500 is back in the wedge again and we need to see a daily close above the 2750 level for the continuation of reversal. The strong upside support, downside resistance zone 2600-2650 is on the test now.

Note: Look for the long trade entries with the stop loss below 2600.

 

 

 

EURUSD

The pair is testing the strong 1.14000 level for the upside reversal into the 1.15320 level.

Note: look for the long trade entries with the stop loss below 1.13500 level.

 

 

 

 

USDJPY

The pair is consolidating between 112 and 114 level. The daily close above/below this level would lead to a continuation or reversal lower.

Note: stay away from the long trade entries for now as the pair is retesting the 112.240 level.

 

 

 

AUDUSD

The pair is breaking above the 0.7150 level and this is marking a reversal to the upside. The next big resistance is 0.7400 level. Any pullback into the 0.7150 level could be used for the first or added buy entries.

Note: stay away from the trade entries as the pair is testing the 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

The pair is testing the 1.3350-1.3400 zone for the upside continuation or reversal lower.

Note:  look for the short trade entries as the pair is being rejected. Stop loss above the 1.3400 level.

 

 

 

GBPUSD

The pair is testing the 1.2660-1.2750 support/resistance zone. 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: look for the cautious long trade entries with the stop loss below the 1.2660 level.

 

 

 

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: Look for the short trade entries above the 4100 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.