The beginning of this week turned out to be weak and silent again. Here are some instruments that I am currently watching.
1️⃣ WTI Oil - 3 Days time frame 🛢️
67.9 is a year's high. For now, it is a key psychological level and chances will be high to see a pullback from that. From a current perspective, it looks like we should not expect a reversal from that level, but just a minor move before it breaks to the upside.
If you are a bull biased trader, wait for a daily candle close above that level, it will be a trigger for bullish continuation.
Next key resistance - 77.0
2️⃣ EURAUD - 3 Days time frame 🇪🇺🇦🇺
After a key level breakout, we remain bull biased on EURAUD. For now, the goal for buyers is 1.592 - 1.594 key daily supply area. I will look for shorting opportunities from there
For occasional buying, keep monitoring the zone around 1.56 level. It is the closest major support.
3️⃣ EURCHF - 3 Days time frame 🇪🇺🇨🇭
From March the pair is trading in a minor bearish trend. The price is steadily fallign within a bullish flag pattern.
Consider the boundaries of the flag for intraday trading: selling from its resistance and buying from its support.
To catch the next swing move, wait for a bullish breakout of the flag. It will be a solid trigger.
4️⃣ GBPCAD - Daily time frame 🇬🇧🇨🇦
1.7165 is major daily resistance. We see a bullish accumulation around that structure and it looks like the market is preparing for its breakout.
Wait for a daily candle close above that as a breakout confirmation. Then look for buying opportunities on a retest.
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