MarketBreakdown | BITCOIN, EURUSD, GBPUSD, USDCAD
Updated
Hey traders,
While the market remains slow and indecisive, here is a brief intraday outlook for 4 instruments in my watch list
1️⃣ Bitcoin - 12h time frame ₿
From the beginning of December, the market was steadily falling within a falling wedge pattern.
However, its resistance was broken yesterday.
It looks like we may expect a local bullish move to 51.500 level.
2️⃣ EURUSD - 12h time frame 🇪🇺🇺🇸
The pair is stuck within a falling wedge pattern.
For now, the price perfectly respects its boundaries.
Consider its support/resistance for intraday trading or patiently wait for a breakout and buy/sell on a retest.
3️⃣ GBPUSD - Daily time frame 🇬🇧🇺🇸
The market is consolidating within a horizontal trading range.
1.337 is its resistance.
1.317 is its support.
Again, consider its boundaries for a range trading or wait for its support/resistance breakout for a breakout trade.
4️⃣ USDCAD - Monthly time frame 🇺🇸🇨🇦
The market is approaching a key monthly structure resistance.
I would expect a pullback from such a major level.
Also, its bullish violation will lead to a strong bullish continuation.
Consider such a scenario as well.
❤️Please, support this idea with a like and comment!❤️
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