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

1280-1300 zone is a strong resistance and downside support and we have a rejection from it.

Note: look for the short trade entries with the stop loss above the 1305

 

 

 

 

 

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. Bounce is on the way.

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: look for the long trade entries with the stop loss below 2500 level

 

 

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: look for the long trade entry with the stop loss below 19600.

 

EURUSD

The pair is in the consolidation between 1.13000 and 1.14800 level.

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 flash 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. The pair is bouncing into the downside support 0.6800 level.

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 which is happening

Note:  stay away from the short trade entries and take profit here

 

 

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.

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.