MarketBreakdown | WTI OIL, EURAUD, EURCHF, EURCAD
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.