Weekly market overview Forex, CFD’s, Cryptocurrency- DXY, XAUUSD, OIL, S&P500, DAX, EURUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, GBPUSD, BITCOIN, ETHEREUM
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DXY-USDollar index
The instrument is retesting the 96.50-97 zone of the strong uptrend resistance and is briefly breaking above the 200 SMA 95.790 level. A daily close below the 95.79 is required for a downside reversal into the 94 level. A daily confirmed close above the 97 is required for an upside continuation.
XAUUSD-GOLD
The instrument is retesting the strong upside resistance 1240 level. A daily close above this level is required for an upside continuation. Another rejection here would lead to a new pullback into the 1200-1210 zone which is ongoing now. We could have a consolidation between 1220-1240.
OIL
The instrument is breaking below the 53.40 level and is testing the strong resistance 50.30 level. A daily close below this level is required for a downside continuation. The downside support zone now is 53-55.
DAX
The instrument is hesitating around the 200 SMA 11470 level. Continuation below this level will lead to a bigger pullback into the 10000 level. A daily close above the 11500 level will lead to an upside continuation.
S&P500
S&P500 is testing the support zone 2600-2650. The bounce off this support can lead to a retest of the 2774 level and a daily close above this level is required for a continuation into the 3000 level. We have a bounce and retest of an important 2774 level. Look for a daily confirmed break.
EURUSD
The pair is bouncing off the strong support 1.3140 level and only a daily close below this level would lead to a downside continuation. A daily close above the 1.15000 level is required for an upside continuation.
USDJPY
The pair is trying to break the strong upside resistance 113.500-114 for the upside continuation. We need to see a daily confirmation above the 114.500 level. A daily close below the 112.800 level would invalidate the upside move.
AUDJPY
The pair is bouncing again off the broken 82 level and we could see now a retest of the 84.800 level.
AUDUSD
The pair is breaking above the 0.7250 level and we could see an upside extension into the 0.7500 level. Look for the long-trade entries with the stop loss below 0.7150 level.
NZDUSD
The pair is breaking above the 0.6900 level for an upside continuation into the 0.7000 level. Stay away from the trade entries for now until we have a daily confirmation.
USDCAD
The pair is testing the strong upside resistance 1.3300-1.3400 zone and a daily close above this level is required for an uptrend continuation. Rejection from here would lead to a pullback into the 1.3050 level.
GBPUSD
The pair is testing the strong support confluence 1.2750-1.2800 zone. A daily close below this zone could lead to an extreme downside continuation. Bounce off this zone could lead to a retest of the 1.32000 level.
Bitcoin
The instrument is breaking below the 6000 level and is testing the strong 5600 level. The daily close below this level would lead to a downside continuation into the 3000 level which is ongoing. We could see abounce of this level for a 6000 retest.
ETHEREUM-ETH/USD
The instrument is breaking below the 195 level and we could see a downside extension into the 110 level which is a channel support. A break below the channel support could lead to a downside extension into 10.
The weekly preview will give you an important insight into the long-term price action. Look for strategic trend direction clues in this analysis.
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.