MarketBreakdown | EURUSD, GBPUSD, EURAUD, EURCAD
Updated
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ EURUSD - 4H time frame 🇪🇺🇺🇸
The pair is ranging after a sharp bearish move.
For now, the price perfectly respects a parity level.
I believe that the market will start a correctional movement soon.
2️⃣ GBPUSD - 8H time frame 🇬🇧🇺🇸
The market is steadily falling within a falling parallel channel.
While the price stays within, we remain bearish biased and will expect a bearish continuation shorting from its resistance.
Alternatively, its bullish breakout will initiate a correctional movement.
3️⃣ EURAUD - Daily time frame 🇪🇺🇦🇺
After a sharp bearish move, the pair is approaching a key daily structure support.
I will expect a pullback from that.
4️⃣ EURCAD - Monthly time frame 🇪🇺🇨🇦
The pair is approaching a key monthly structure support.
Being too oversold, the market will most likely retrace from that.
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