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. A strong upside resistance zone is 1275-1300. Now only a daily close below 1220Â will invalidate the upside swing.
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 which is ongoing now. 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. A daily close below the 2600 level will lead to a downside continuation into the 2400 level.
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 testing the 112.700 level for the pullback lower into the 111 level. We need to see a daily confirmation above the 114.500 level for the upside continuation.
AUDJPY
The pair is testing the key 81.160 level. The bounce of this level could lead to a retest of the 84.800 level and a daily close below will lead to a 79 level test.
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 on this pullback.
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. A daily close below the 0.6780 level would lead to an invalidation of the upside reversal.
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 a bounce off 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, which is ongoing and if it is confirmed, 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.