• Vasily Trader

MarketBreakdown | GOLD, EURCAD, Dollar Index, EURCHF

Hey traders,

here is a brief technical outlook of 4 peculiar instruments in my watch list.

1️⃣ Gold ( XAUUSD ) - 4H time frame 🥇

After a strong bullish rally, the market is currently accumulating.

We see a sequence of equal highs around 1870 level.

At the same time, the price keeps setting higher lows respecting a minor rising trend line .

Bullish breakout of the underlined horizontal resistance will most likely lead to a further bullish continuation.

In case of a bearish breakout of a trend line , a correctional movement may start.

2️⃣ EURCAD - Daily time frame

After a 1 month-long consolidation within a horizontal trading range,

bears finally broke that with a high momentum bearish candle.

Taking into consideration that the pair is trading in a long-term bearish trend ,

I will expect a further bearish continuation now.

3️⃣ Dollar Index ( DXY ) - Weekly time frame 💵

Greenback managed to violate a key weekly structure resistance level to the upside.

It opens a potential for a further bullish continuation up to 97.0 level.

I guess that the next bullish wave will initiate after a pullback.

94.0 - 94.7 is our major demand zone .

4️⃣ EURCHF - Weekly time frame

The market is approaching a major weekly key level at the moment.

1. 05 is the level on focus.

From that, we will most likely see a pullback.

Look for a confirmation on lower time frames to buy safely.

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