Daily trading overview

Daily market overview DXY, XAUUSD, OIL, COPPER, S&P500, DAX, NIKKEI, EURUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, GBPUSD, BITCOIN

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DXY-USDollar index

Bounce from a key downside resistance level 94.600 is leading to a 95.640 retest. A confirmed daily close would lead us to a consolidation.

Note: invalidation of the downside continuation only on a daily close above the 95.800 level.

 

 

 

 

XAUUSD-GOLD

1280-1300 zone is a strong resistance and downside support and we have a rejection from it. A daily close below 1282 will accelerate the downside. The instrument is in the consolidation triangle.

Note: stay away from the trade entries for now

 

 

 

OIL

The instrument is testing the last horizontal downside resistance 42 level. A daily close below this level would lead to an extreme downside extension. Bounce from here would lead to a pullback retest which is on the way. The strong upside resistance and downside support is 52.50.

Note: stay away from the trade entries for now as the pair is consolidating at 52.50 level.

 

 

 

 

COPPER

The instrument is going for a test of the strong horizontal resistance 260 level. Hold and a bounce from here would lead into the 268 level test which is now on a test.

Note: stay away from the trade entries for now.

 

DAX

The instrument is going for a retest of the channel top 11000. A daily close above this level is needed for an upside reversal higher to 11500, rejection will lead to a downside extension. The instrument is breaking above the 11000 level but we need to see a confirmation.

Note: stay away from the trade entries.

 

 

S&P500

The instrument reached the 138.2% Fibonacci extension from the highest 2950 swing point. This is also the last long-term uptrend support left before a strong downside continuation. The bounce is reaching the strong resistance 2470 level and a confirmed daily close above this level is needed for a test of 2600 level which is on the way.

Note: stay away from the trade entries

 

 

 

NIKKEI

The instrument is bouncing of the 19600 level of the strong long-term support. The bounce could lead to a 21000 level retest.

Note: stay away from the trade entries now.

 

 

EURUSD

The pair is in the consolidation between 1.13000 and 1.15500 level. We need to see a daily close above the 1.16300 level for the upside reversal continuation.

Note: stay away from the trade entries for now.

 

 

 

 

USDJPY

The pair is bouncing off the strong level 104.800 after the hardest Yen pairs flash crash in the recent history. A daily close above the 108.850 is needed for the upside continuation into the 110.

Note: stay away from the trade entries as we need price action consolidation

 

 

 

 

 

AUDUSD

The pair is testing the 0.7200 level for a break higher. A daily close below the 0.7150 level would lead to a bigger pullback into the 0.7050 level.

Note: stay away from the trade entries.

 

NZDUSD

 The pair is bouncing into the downside support 0.6800 level. A daily close above the 0.6800 level could lead to a test of the upper consolidation resistance 0.6950. A daily close below 0.6800 would lead to a deeper correction into the 0.6685.

Note: stay away from the trade entries for now as the 0.6800 level is on a test

 

 

 

 

USDCAD

The pair is in the consolidation between 1.3100 and 1.3300 level. This consolidation is not giving us either reversal or a continuation direction.

Note:  stay away from the trade entries.

 

 

GBPUSD

The pair has bounced off the low 1.2476 in a fast flash crash and is bouncing back to the key 1.2700 level. A brief break above is opening the further upside extension. Wait for the confirmation. A daily close above the 1.3100 level is needed for a complete upside reversal.

Note: stay away from the trade entries for now as the pair is in the rectangle between 1.2500-1.3100

 

 

Bitcoin

The instrument is pulling back from the 4000 and a daily close below the 3600 level could lead to a deeper pullback.

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.