MarketBreakdown | GOLD (XAUUSD), WTI CRUDE OIL, EURUSD, AUDUSD
Hey traders,
here is a brief technical outlook of 4 peculiar instruments in my watch list.
1️⃣ Gold (XAUUSD) - Daily time frame 🥇
The market is steadily recovering after a strong bearish movement.
Ahead is a strong horizontal resistance.
I will look for a pullback trade from that.
Let the price reach the underlined structure, then wait for a confirmation to sell.
2️⃣ WTI Crude Oil - Daily time frame 🛢️
The market is growing steadily within a rising parallel channel.
Consider its boundaries for counter-trend / trend-following trades.
3️⃣ EURUSD - Monthly time frame 🇪🇺 🇺🇸
After the pair reached a 6-years-low, it started to recover nicely.
This week is very bullish for the market.
Ahead is a strong horizontal resistance based on the last lower high.
I assume that is a goal for buyers right now and bulls will most likely push there.
Once it is reached look for a confirmation to sell,
that structure may give a very nice short trade.
4️⃣ AUDUSD - Daily time frame 🇦🇺🇺🇸
Important decision is ahead on AUDUSD.
The pair is currently approaching a key level.
If the price breaks that to the upside, we may see a strong bullish continuation.
If you see some reversal intraday confirmation on that level though,
be prepared for a retracement.
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