Daily market overview DXY, XAUUSD, OIL, S&P500, DAX, EURUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, GBPUSD, BITCOIN, ETHEREUM
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DXY-USDollar index
The instrument is bouncing from the key support 88-88.50 zone and we could see a depper pullback into the broken downside resistance 90.80 level again. The break above 90.50 is required for an upside continuation into the 93 level.
XAUUSD-GOLD
The instrument is testing again the falling trend line 1350 level and we need to see a reaction from this level for an upside extension or reversal lower. The instrument could go for one more retest of 1280-1300 zone.
OIL
The instrument is going for another retest of the broken uptrend line 61.50-62 zone. For a continuation to the upside we need to see a daily close above this zone. Rejection from here could lead to another downside test of an important 58 level.
DAX
The instrument broke below the 12800 level and we are seeing a retest of this broken level. Stay aeay from the trade entries for now.
S&P500
S&P500 is retesting the broken uptrend line 2750-2800 zone. Look for a reaction from here.
EURUSD
The pair is retesting the 1.2500 level again and is forming the treiangle. Look for a reaction from here for an upside continuation or a downside move into the 1.2200 level.
USDJPY
The pair is testing median line of the downside Pitchfork channel 105.800 level. We could see a bounce from here short term.
AUDJPY
The pair is in a consolidation rectangle and is reaching the key 84 level of support. Below this level we could see a downside continuation.
AUDUSD
The pair is bouncing from the key level 0.7834 200 SMA. It is the middle of the long-term wedge. Stay away from the trade entries for now.
NZDUSD
The pair is bouncing from the 200 SMA 0.7269. Another test of 0.7400 key upside extension level.
USDCAD
The pair is in the wedge and we could see a break soon.
GBPUSD
The pair is rejected from the 200 SMA on a weekly chart 1.4396 level and is forming the consolidation triangle. Below 1.3800 level we are seeing a deeper pullback into the 1.3200-1.3500 before any chance of continuation higher.
Bitcoin
The instrument is pulling back from the 19640 level forming the large bearish shadow weekly candle. We are seing the fall into the 6000-7000 zone after the H&S formation and the instrument is reacting higher from here. The key upside extension level is 12500.
ETHEREUM-ETH/USD
The instrument is bouncing from the uptrend channel 750-800 zone. The key upside extension level is 1200.
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 on 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.</s