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  • Vasily Trader

MarketBreakdown | USDCAD, SILVER (XAGUSD), EURGBP, WTI OIL



Hey traders,


Here is a brief technical outlook for 4 financial instruments that are on my radar.


1️⃣ USDCAD - 3 days time frame


The price successfully broke and closed above a major falling trend line .

That was a very important moment for the pair and now I am very bullish-biased.

I want to see a retest of a broken trend line and then a consequent intraday confirmation

to buy the pair.


In a midterm, a bullish continuation is expected to 1.262


2️⃣ SILVER ( XAGUSD ) - Daily time frame


The market is currently ranging.

26.7 - 27.1 is its resistance.

25.4 - 25.7 is its support.


To catch a swing move wait for a breakout of its boundaries,

sell in case of a bearish breakout and buy in case of a bullish one.


For intraday trading consider the boundaries of the range.


3️⃣ EURGBP - Daily time frame


Similar to silver , the market is currently consolidating.

The price is trading in a horizontal decision range.

0.862 is its resistance.

0.853 is its support.


Because the market is trading in a long-term bearish trend , I will wait for a support breakout to sell.

However, again, for intraday trading, you can trade the market within the range.


4️⃣WTI OIL - Daily time frame


As we know, oil & cad are in a very close negative correlation.

The price has recently reached a key monthly structure and

we saw a very strong bearish reaction from that with a confirmed breakout of a major rising trend line .


Very bearish bias and bearish continuation is expected.


Based on an intraday perspective, it looks like the market is preparing for one more test of a trend line .


Closest key supports - 70.9/68.0

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