My FX pairs And Gold Daily Analysis

[Dominic Walsh]

#EURCAD: Important Breakout

🟢EURCAD broke and closed above a major horizontal supply cluster with a high momentum bullish candle yesterday.
1.441 - 1.446 is now turned into a demand zone.

I will expect a bullish wave from that area to 1.455 / 1.46 levels.

 

[Dominic Walsh]

#CADCHF: Bearish Move From Key Level

It looks like 🔻CADCHF may drop.
The price reached a solid horizontal resistance and formed a tiny double top pattern on an hourly time frame. Now we see a strong bearish pressure.

I expect a bearish continuation to 0.6913 / 0.6905

 

[Dominic Walsh]

#GBPCAD: Your Trading Plan For Today

⚠️GBPCAD is coiling on a key level.
I see a horizontal trading range on 1H time frame.

1.6263 - 1.6274 is its neckline.
Wait for its bullish breakout (hourly candle close above).
It will be your confirmation to buy.

Open long aggressively or on a retest then.
Goals will be 1.6307 / 1.633

If the price sets a new lower low, the setup will become invalid.

 

[Dominic Walsh]

#NZDCAD: Bullish Outlook Explained

🟢NZDCAD is taking off from a key horizontal support.
The price formed a double bottom on that and broke its neckline then.

I expect a bullish continuation to 0.851 / 0.854

 

[Dominic Walsh]

Gold (#XAUUSD): Key Levels to Watch This Week 🟡

Here is my latest structure analysis for ⚠️Gold.

Support 1: 1843 - 1853 area
Support 2: 1804 - 1811 area

Resistance 1: 1875 - 1904 area
Resistance 2: 1950 - 1959 area

Consider these structures for pullback/breakout trading next week.
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[Dominic Walsh]

#AUDNZD: Bearish Outlook Explained

🔻AUDNZD is testing a wide daily horizontal supply area.
The price formed a double top pattern, approaching that on an hourly time frame
and broke its neckline with a high momentum bearish candle.

I expect a retracement to 1.0848 / 1.0828

 

[Dominic Walsh]

S&P500 Index (#SPY): Time to Sell

🔻S&P500 Index is testing a wide daily horizontal resistance cluster.
Probabilities will be high to see a bearish reaction from that.

I believe that the market may drop today to 4032 / 4021 levels.
MACD Indicator

 

[Dominic Walsh]

BITCOIN (#BTCUSD): Detailed Technical Outlook ₿

⚠️Bitcoin successfully violated a wide horizontal daily demand area.
The broken structure turned into a supply zone.

The market is correcting now.
I spotted a bearish flag pattern on 4H time frame.
Its bearish breakout may initiate the next sell off.
Watch carefully the reaction of the price to its rising support.
Consider shorting after a 4H candle close below with initial target being 22100.

 

[Dominic Walsh]

Gold (#XAUUSD): Time For Pullback 🟡

🟢Gold is approaching a wide horizontal demand cluster on 4H.
Taking into consideration, that the market is trading in a minor bullish trend,
probabilities will be high to see a pullback from the underlined area.

I expect growth to 1855 / 1862
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[Dominic Walsh]

Crude Oil (#WTI): Bearish Outlook Explained 🛢

🔻WTI Crude Oil reached a key daily structure resistance.
The price formed a tiny little double top on that on 1H time frame.
Its neckline has been just broken.

The market will most likely keep retracing.
Goals: 79.9 / 79.6
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[Dominic Walsh]

Dow Jones Index (#US30): Key Levels to Watch This Week

Here is my latest structure analysis for 🔻US30 Index.

Support 1: 32470 - 32650 area
Support 2: 31700 - 31975 area

Resistance 1: 33475 - 33660 area
Resistance 2: 34300 - 34500 area
Resistance 3: 34820 - 34900 area

Vertical Resistance 1: major rising trend line .

Currently, the market is approaching a confluence zone based on Vertical & Horizontal Resistance 1.
Probabilities will be high to see a pullback from there.

Consider the underlined structures for pullback/breakout trading.

 

[Dominic Walsh]

#AUDCAD: Time to Grow

🟢AUDCAD dropped to a key daily structure support.
The price formed a double bottom pattern, testing that on 1H,
its neckline was broken then.

I expect a bullish move to 0.91 / 0.9117

 

[Dominic Walsh]

#EURCHF: Your Trading Plan For Today

⚠️EURCHF is currently consolidating.
The pair is trading within a wide intraday trading range.
Currently, the price is approaching its lower boundary.

To buy the pair with a confirmation, watch a double bottom pattern.
0.994 - 0.9943 is its neckline.
Wait for an hourly candle close above that (it will confirm a breakout),
buy aggressively or on a retest then.

Target will be 0.996

If the price sets a new lower low, the setup will be invalid.
Also use RSI Indicator for confirmation.

 

[Dominic Walsh]

Silver (#XAGUSD): Ahead of Powell's Speech

🟢Silver looks very oversold.
The price reached a solid horizontal key level and formed an inverted head and shoulders pattern on 1H time frame.

We might see a pullback.
Goals: 20.37 / 20.55

 

[Dominic Walsh]

#CADCHF: Important Breakout

🔻CADCHF was coiling for more than a month within a wide horizontal trading range on a daily.
Its support was finally broken yesterday.

I believe that the pair will keep falling now.
Next support - 0.679

 

[Dominic Walsh]

#USDCHF: Bearish Move From Key Level

USDCHF looks overbought to me,
The price formed a double top pattern approaching a key structure resistance.
Its neckline has been just broken.

Probabilities are high that we will see a correctional movement on the pair.
Goals: 0.935 / 0.931

 

[Dominic Walsh]

#CADJPY: Classic Trend-Following Setup

🔻CADJPY broke and closed below a support line of a bearish flag pattern.
Taking into consideration, that the pair is trading in a bearish trend,
that violation may trigger a sell off.

I expect a bearish continuation to 97.05 / 96.1

 

[Dominic Walsh]

#USDCHF: Detailed Technical Outlook

⚠️USDCHF is currently consolidating.
The price is stuck between 2 horizontal key levels that compose a range.

0.9425 - 0.946 is the resistance of the range.
0.9285 - 0.9306 is the support of the range.

Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios:

1️⃣If the price breaks and closes above the resistance of the range,
a bullish continuation will be expected at least to 0.9537.

2️⃣If the price breaks and closes below the support of the range,
a bearish move will be expected to 0.9193 support.

Wait for a breakout, that will clarify the future direction of the market.
Also use Directional Indicator for confirmation!

 

[Dominic Walsh]

Binance Coin (#BNBUSD): Very Bearish Outlook! Here is Why:

Have you seen that huge head & shoulders pattern that was formed
on 🔻Binance Coin on a daily.

After yesterday's fundamentals, the price successfully violated its neckline and closed below that.
Probabilities are high now, and the market will keep falling.

Goals: 256 / 243

 

[Dominic Walsh]

Gold (#XAUUSD): Important Bullish Clue on a Weekly 🟡

🟢Gold has nicely respected a major weekly structure support.
The market formed a bullish engulfing candle after the test of structure,
and then we saw a very nice rejection from that.

It looks like Gold may go higher.
Next resistance 1925.

Remember, that weekly time frame chart unveils a long-term perspective.
So it may take weeks, before the price reaches the target.