Weekly 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 in a bearihs wedge with a huge bearish probability outcome on a break below the 88 level.
XAUUSD-GOLD
The instrument is testing the key upside resistance 1360 level. This level needs to be broken to the upside for the extension higher.
OIL
The instrument is breaking above the 66.70 strong resistance level for a potential target higher of 75 followed by 80.
DAX
The instrument is breaking above the 12400 resistance level and is heading for the 1260-1270 zone test.
S&P500
S&P500 is testing the 34SMA 2683 level. This is the key level for a possible wedge swing continuation higher into the 2730.
EURUSD
The pair is bouncing of the strong uptrend line 1.2280 level. Wait for a break above the 1.2400 for a possible long trade entries on a short-term time frame.
USDJPY
The pair is breaking above the 107.400 level and we could see an upside extension into the 109 for a test of the broken trend line.
AUDJPY
The pair is trying to break the flag formation for the upside extension into the 86-87 zone.
AUDUSD
The pair is testing the 200 SMA 0.7757 levelfor the upside wedge break. This break if confirmed could lead to an upside extension into the 0.8000 level.
NZDUSD
The pair is testing the wedge upside 0.7250-0.7300 zone. Look for a reaction from this zone for a near-term direction. Stay away from the trade entries.
USDCAD
The pair is breaking below the 200 SMA 1.2709 level and is opening the further downside continuation into the wedge support 1.2400 level.
GBPUSD
The pair is testing the 1.2430 level for a possible break higher into the 1.4600 level.
Bitcoin
The instrument is retesting the 34 SMA 8300 level and we could see the downside extension into the 3500-4000 zone. Look only for the sell entries with the SL above the 8580 level.
ETHEREUM-ETH/USD
The instrument is pulling back for a retest of 560 level previously broken resistance level. Look for the sell trade entries with the 580 SL.
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.