MarketBreakdown | WTI OIL, GOLD (XAUUSD), USDJPY, EURAUD
here is a brief technical outlook of 4 peculiar instruments in my watch list.
1️⃣ WTI Crude Oil - 3 days time frame 🛢️
Very surprisingly WTI broke the year's high yesterday.
It looks like buyers are willing to push much higher.
The next historical highs to watch:
For buying, I would wait for a pullback first.
2️⃣ Gold ( XAUUSD ) - Daily time frame 🥇
Gold broke and closed above a resistance line of a falling wedge pattern.
This morning we see its retest.
Chances are high to see a bullish reaction soon.
Closest resistance - 1780
3️⃣USDJPY - 3 days time frame
Yen dropped to a major supply zone .
110.45 - 110.8 is the area to look for buying opportunities.
Taking into consideration that the pair is trading in a bullish trend ,
probabilities are on the bulls' side for now.
4️⃣EURAUD - 3 days time frame
The market is trading in a bullish trend .
Reaching 1.643 structure high, the pair is retracing.
Ahead is a major confluence zone:
we see a perfect match between a major rising trend line and horizontal structure support .
From that confluence point, a bullish move will be expected.