MarketBreakdown | EURUSD, GOLD, GBPUSD, BITCOIN
While the market remains slow, here is a quick update for the majors:
1️⃣ EURUSD - Daily time frame
1.223 is a major key resistance that we are monitoring for quite a while.
This week we saw its false breakout both on daily/4h time frames.
Now the price is again trading below.
To spot the next swing move, keep following a rising wedge pattern.
Bearish breakout of its support (daily candle close below) will be a trigger to sell,
while its bullish violation will be a strong bullish clue.
2️⃣ GOLD - Weekly time frame
In comparison to USD majors, gold is unstoppable.
Bullish rally continues neglecting all historical levels.
The next solid structure to look at is a narrow area around 1960.
It looks like it is the next goal for buyers and a pullback will be expected for that.
For now, I would recommend staying away from buying and open long only after a solid pullback
because the market is heavily overbought.
3️⃣ GBPUSD - 3 days time frame
1.4235 os the years high and key structure resistance .
The price is stuck on that level for the last 3 trading days.
With multiple rejections, I still believe that a pullback is highly probable.
4️⃣ BITCOIN - 8H time frame
We can not deny the psychological and technical significance of 30.000$ level.
Being reached, it was a level from where I made my first purchase of btc this year.
With a bullish breakout of an intraday trend line , we got a solid confirmation and proof of a willingness of buyers to buy.
So now it's time to grow. Just be patient.