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MarketBreakdown | GBPUSD, USDCHF, EURAUD, US100 Here are the updates & outlook for multiple instruments in my watch list. 1️⃣ #GBPUSD daily time frame 🇬🇧🇺🇸 The market keeps correcting on a daily time frame after the pair updated the high. The price is steadily falling within a bullish flag pattern. I think that a bullish breakout of the resistance of the flag and a daily candle close above that can be a strong bullish trend-following signal. 2️⃣ #USDCHF daily time frame 🇺🇸🇨🇭 The market keeps recovering after a massive selloff. The closest resistance that I see on a daily is the confluence zone based on a recently broken horizontal support and a falling trend line. I will look for shorting opportunities from there 3️⃣ #EURAUD daily time frame 🇪🇺🇦🇺 The price successfully violated a major rising trend line and closed below that on a daily. I think that the market has a nice potential to keep going lower. 4️⃣ NASDAQ INDEX #US100 daily time frame The index is trading in a minor bearish trend on a daily. We see a local correctional movement at the moment. I see a strong supply area ahead. It is based on a key horizontal resistance and a falling trend line. I think that we can expect a retracement from that area. Alternatively, its bullish breakout will be a strong bullish signal. Do you agree with my market breakdown? ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
3
GBPCHF: Confirmed Change of Character 🇬🇧🇨🇭 One more setup that we discussed on the yesterday's live stream is GBPCHF pair. The market violated a key horizontal resistance - the last lower high in a minor bearish trend - and closed above that on a daily. Such a violation is a confirmed Change of Character, it indicates that the pair returns to a global bullish trend. We can anticipate more growth now. Next resistance - 1.1596 ❤️Please, support my work with like, thank you!❤️
Long
by VasilyTrader
1
USD/JPY continues to struggle ~158Over the past three days we have seen two false breaks above 158, both resulting with a daily shooting star reversal. The upper wicks also serve as a double top above 158, and with US economic data slowly souring, the case for a top on USD/JPY is building. Prices have found support around the May high, and another crack at 158 would not come as a surprise. Yet given that the daily RSI (2) is overbought and has formed a bearish divergence on the 4-hour chart, and the highest volume of yesterday coincided with a large bearish bar, the bias remains to fade into rallies around 158 or Friday's high in anticipation of its next leg lower. 157.30, 157 and 156.60 are the next downside targets for bears to consider.
Short
by CityIndex