Daily market overview EURUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, GBPUSD, BITCOIN
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USDJPY
A break above 107.20 has led to a continuation higher into the 109.600 level. This level is a strong near-term resistance for an upside move into 110.500. Rejection could lead to a pullback and a possible rising wedge formation. Break below 108.450 is required for the downside extension. The ARMAT trading system is neutral.
Note: look for the short trade entries with the stop loss above 109.650
EURUSD
The pair is pulling back after a false break of the strong downside resistance 1.102500 level. A confirmed daily break above 1.118000 would lead to an upside reversal. Upside support now is 1.10500-1.10800 zone.
The ARMAT trading system is neutral.
Note: stay away from the trade entries
AUDUSD
The pair is testing the 0.6850-0.6930 zone of strong upside resistance, a daily close above this zone is required for a complete upside reversal.
The ARMAT trading system is neutral.
Note: stay away from the trade entries for now
NZDUSD
Pair is breaking above the 0.6450 level of an Inverse Bullish H&S formation. Upside support now is 0.6450. We have a test of 0.6600 level for a breakout, rejection will lead to a new downside reversal. Breakout will lead to an extension higher.
ARMAT trading system is pointing higher
Note: look for the long trade entries on a break above the 0.6600 level
USDCAD
The pair is bouncing off the strong upside support 1.3100-1.3150 zone but we need to see a break above the 1.3250 level for a complete upside reversal.
ARMAT trading system is neutral
Note: stay away from the trade entries for now
GBPUSD
The pair is pulling back after the strong reversal and rejection off the 1.3600 level. The support zone is 1.2900-1.3050. The ARMAT trading system is neutral.
Note: stay away from the trade entries for now
Bitcoin
The instrument is breaking below the triangle 9500 level. The deeper pullback into the 4000 level is possible and is on the way.
ARMAT trading system is pointing neutral.
Note: stay away from the trade entries for now
The daily market overview is a comprehensive look at all market classes and it will give you the full daily insight of the market positioning for further actions.
Technical analysis of instruments listed here is just an indication of possible price movement and does not indicate any trade action which could be initiated by investors and members of this site. Daily market overview