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 testing the 95.50 level of the upside resistance and so far it is being rejected from it. The weekly upside support is 94.18 level followed by 93.25. Until we don’t see a significant breakout of the 95.50 level we can’t talk about the upside extension.
XAUUSD-GOLD
The instrument is in the triangle with the key levels to watch 1210 and 1190. The breakout above 1210 is needed for the upside swing into the 1270 level.
OIL
The instrument bounced of the 64-66 upside support zone and is testing now the 70 level which is an important upside resistance. Only a break below the 67 level will lead to another test of 64 level.
DAX
The instrument is breaking below the median line 12000 level and is testing the 11900 level. Wait for a possible swing higher before a downside continuation.
S&P500
S&P500 is breaking below the 2870 level again and is testing the wedge support 2850-2870 zone. Looking for a deeper pullback lower from here but we need to wait for a daily confirmation.
EURUSD
The pair is testing a confluence of the upside support 1.15000-1.15500 zone which could lead to an upside swing into the 1.17000-1.18000 zone.
USDJPY
We have a bounce off the 110 level of the support. This bounce if it will be confirmed next week could lead to an upside test of the 112-113 zone. We still don’t have a confirmation for the upside extension.
AUDJPY
The pair has broken below the 81.50 level. Wait for one more possible pullback in the wedge and a test of the 81 before a downside continuation.
AUDUSD
The pair is breaking below the strong long-term horizontal resistance 0.7150 level and could test 0.7100 level. We could see a pullback into the 0.7150-0.7200 zone before a downside continuation.
NZDUSD
The pair is breaking below the horizontal resistance 0.6560 level. This break is significant but we could see a pullback early next week before a continuation or even a deeper pullback if the pair breaks above the 0.6560 level again.
USDCAD
The pair is testing the bull flag 1.3100 level. Look only for the long trade entries as long as the pair holds above the 1.2950 level. The uptrend support zone is 1.2950-1.3000. A break above the bull flag is not confirmed yet.
GBPUSD
The pair has pulled back, in a volatile week, into the 1.3020-1.3050 strong zone of the downside support. Look for a reaction from this level for direction.
Bitcoin
The instrument is in the range between the 6000 and 8000. We could see a lot of the swing trades here.
ETHEREUM-ETH/USD
The instrument is breaking below the 310 level and we could see a downside continuation into the 190 level. We are now seeing a test of 190 level for a deeper downside continuation. Allow a possible pullback and a bounce from this level.
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.