Bitcoin (#BTCUSD) has just broken a new yearly high! Bulls are pushing Bitcoin again. The price have updated a new high and currently approaching 27000 level. From a technical perspective, we see a breakout attempt of a major weekly resistance cluster. The weekly candle closes in 2 days. Closing above the underlined area, Bitcoin will open a potential for a further bullish continuation.
Gold (#XAUUSD): Your Trading Plan For This Week ⚠️Gold is unstoppable. The market closed, forming a high momentum bullish candle on a daily. The price is currently approaching a solid resistance cluster. To catch a bullish continuation, watch 1977 - 2000 area. If the price breaks and closes above that, probabilities will be high, that the market will go much higher. Next goal for buyers will be 2050.
#EURCAD: Time to Grow! Update for my Friday's post on EURCAD. The price has perfectly respected a horizontal key level on a daily: after a formation of a double bottom pattern on 4H, its neckline was successfully broken. Now, a bullish continuation is expected. Targets: 1.469 / 1.4735 For additional confirmation use: VWAP MT4 Indicator
#NZDUSD: Classic Top-Down Setup NZDUSD is approaching a solid horizontal daily resistance. We see a strong bearish reaction from that: the price formed a rising wedge pattern and a head and shoulders pattern, the support of the wedge and the neckline of h&s were successfully broken. I believe that the pair may drop. Goals: 0.6237 / 0.622
Dow Jones Index (#US30): Key Levels to Watch This Week Here is my latest structure analysis and key levels to watch this week on ⚠️Dow Jones. Support 1: 31420 - 31830 area Support 2: 30690 - 30900 area Support 3: 30070 - 30360 area Resistance 1: 32250 - 32610 area Resistance 2: 33430 - 33660 area The market is currently stuck between Support 1 & Support 2. The market participants are awaiting the interest rate decision on Wednesday. It will most likely clarify the future direction of the market with a breakout. Consider the underlined structures for pullback/breakout trading.
GBPCHF broke and closed above a major falling trend line on a daily. The broken trend line turned into a key vertical support now. Probabilities will be high, that a bullish movement will initiate from that. Next goals for buyers: 1.1423 / 1.151 For Additional confirmation use: Leading Indicators
GOLD (#XAUUSD): Detailed Structure Analysis Here is my detailed structure analysis for ⚠️Gold. Resistance 1: 1998.0 - 2010.0 area Resistance 2: 2050.0 - 2070.0 area Support 1: 1949.0 - 1960.0 area Support 2: 1875.0 - 1904.0 area Support 3: 1854.0 - 1859.0 area Support 4: 1804.0 - 1813.0 area Consider these structures for pullback / breakout trading.
AUDNZD reached a solid horizontal structure resistance. The price formed a doji candle on 4h and a double top pattern on 1H time frame. The neckline of the double top has just been broken. I expect a retracement to 1.0767 / 1.0744 For Additional confirmation use: Swing Trading Indicators
#GBPNZD: Classic Bullish Setup Explained GBPNZD formed a huge ascending triangle formation on a daily time frame. Its neckline was broken yesterday. Probabilities are high that the price will grow now. Goal - 1.998 For Additional confirmation use: Trend Indicators
#GBPCAD: Pullback From Key Level GBPCAD reached a major horizontal resistance. The price has nicely reacted to that, forming a bearish engulfing candle on 4H time frame. I expect a retracement from the underlined structure. Goals: 1.68 / 1.677