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 breaking below the strong downside resistance 50.30 level and is testing now the long-term horizontal support  47-48 zone.

Note: stay away from the trade entries for now.

 

 

 

DAX

The instrument is testing the channel support line 10500 level. We could see a bounce from here into the 11200 level.

Note: stay away from the trade entries as the instrument is testing the strong 11000 resistance.

 

 

 

S&P500

S&P500 is testing the strong horizontal support zone 2500-2550. A daily close below this zone could lead to an extreme downside extension. Daily close above the 2580 could lead to a bounce into the 2700 level.

Note: Look for the long trade entries with the stop loss below 2550.

 

 

 

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 1.13100 level.

 

 

 

USDJPY

The pair is consolidating between 112.200 and 114 level. The daily close above/below this level would lead to a continuation or reversal lower.

Note: stay away from the trade entries as the pair is in the consolidation.

 

 

 

 

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:  stay away from the trade entries for now.

 

 

 

GBPUSD

The pair has broken below the 1.2660 level for a downside extension. We have an ongoing pullback for a retest of the broken 1.2660-1.2750 zone.

Note: stay away from the trade entries for now

 

 

 

 

Bitcoin

The instrument is testing the strong downside resistance 3000 level. A daily close below this level could lead to an extreme downside extension. The bounce from here would lead to a retest of the 4050 level.

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.