MarketBreakdown | WTI Crude Oil, USDJPY, USDCAD, AUDUSD
Updated
Hey traders,
here is a brief technical outlook of 4 peculiar instruments on my watch list.
1️⃣ WTI Crude Oil - Daily time frame 🛢️
The market has recently retraced from a resistance line of a rising parallel channel.
The goal for sellers is the support of the channel now.
Be prepared for a bearish continuation and then look for a long trade from support.
2️⃣ USDJPY - Daily time frame 🇺🇸🇯🇵
The pair is currently retesting a current year's high.
I believe that chances will be high to see a retracement from that.
3️⃣ USDCAD - Weekly time frame 🇺🇸🇨🇦
The market is steadily growing within a rising parallel channel on a weekly.
Ahead is a channel's resistance.
I will expect a strong bearish move from that.
4️⃣ AUDUSD - 1H time frame 🇦🇺🇺🇸
AUDUSD broke and closed below a support line of a bullish flag pattern last week.
The pair is steadily recovering now.
I will be looking for shorting the pair on a retest of a broken support of the flag.
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