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

The instrument is briefly breaking below the 96.200 level but we need to see a follow through. A confirmed daily close above the 97 level will invalidate completely the downside continuation.

Note: invalidation of the downside continuation only on a daily close above the 96.680 level which in on the test now

 

 

 

 

XAUUSD-GOLD

Gold is testing the 1260-1280 zone of the previously broken long-term uptrend line. Higher probability long trade entries only in the case of a daily close above  1286 level. 1280-1300 zone is a strong resistance and downside support.

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.

Note: stay away from the trade entries for now.

 

 

 

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.

Note: stay away from the trade entries for now.

 

 

 

DAX

The instrument is briefly breaking below the 10500 level and this could lead to a downside extension into the 10000 level. A bounce off this level can lead to a 11200 retest.

Note: stay away from the trade entries as the instrument is testing the channel bottom

 

 

 

 

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.

Note: Stay away from the trade entries for now.

 

 

NIKKEI

The instrument is breaking below the 19600 level and is going for a test of the long-term key downside resistance 18500 level. A confirmed daily close above the 19600 level is needed for the bounce into 21000.

Note: Stay away from the trade entries for now.

 

EURUSD

The pair is testing again the 1.13000 level for an upside reversal or a downside break.

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.

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

 

 

 

 

 

AUDUSD

The pair is testing the 0.7000 level and a daily close below this level could open a further downside extension. Bounce will lead to a 0.7150 level test. Ignore the flsah crash candle for now.

Note: stay away from the trade entries.

 

 

 

NZDUSD

The pair is testing the support 0.6700 level for a break lower or a bounce. We have a brief break below the 0.6700 level but we need confirmation.

Note: stay away from the trade entries for now.

 

 

 

USDCAD

The pair is testing now a strong resistance 1.3650 level. This level could provide a rejection for a pullback and a retest of the broken 1.3400 level of the resistance.

Note:  look for the short trade entries with the stop loss above the 1.3600 level.

 

 

GBPUSD

The pair has bounced off the low 1.2476 in a fast flash crash. Wait for a consolidation here.

Note: stay away from the trade entries for now

 

 

 

Bitcoin

The instrument is pulling back from the 4000 for another test of 3200 level. A daily close above the 4000 level could lead to a 5000 test.

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.