My personal FX pairs and XAUUSD analysis

[DominicWalsh]

#GBPNZD: Classic Bullish Setup Explained 🇬🇧🇳🇿

 

🟢GBPNZD formed a huge ascending triangle formation on a daily time frame.

Its neckline was broken yesterday.

 

Probabilities are high that the price will grow now.

Goal - 1.998

For Additional confirmation use: Trend Indicators

[DominicWalsh]

#EURUSD: Important Breakout 🇪🇺🇺🇸

 

Bulls push 🟢EURUSD heavily after yesterday's Interest Rate Decision and FOMC.

The price has successfully broken and closed above a solid horizontal supply cluster.

 

The next solid resistance that I see is 1.099 - 1.103 area.

Probabilities will be high that it is the next goal for buyers.

 

For those, who missed entries, I strictly recommend waiting for a pullback first.

I will post an update later on.

For Additional confirmation use: Xmaster Formula MT4 Indicator

[DominicWalsh]

#GBPCAD: Pullback From Key Level

GBPCAD reached a major horizontal resistance.
The price has nicely reacted to that, forming a bearish engulfing candle on 4H time frame.

I expect a retracement from the underlined structure.
Goals: 1.68 / 1.677

[DominicWalsh]

Nasdaq-100 Index (#US100) Waiting For Breakout

⚠️Nasdaq Index is stuck between 2 solid structures.
Depending on the reaction to the underlined areas, I see 2 potential scenarios.

1 - Bullish
If the price breaks and closes above 12700 - 12900 supply cluster on a daily,
I will expect a bullish movement at least to 13130

2 - Bearish
If the price drops and closes below 12300 - 12500 demand area on a daily,
I will expect a selloff to 11900

Wait for a breakout, it will show us the future direction of the market.
For Additional confirmation use: Breakout Indicator

[DominicWalsh]

#CHFJPY: Classic Bearish Setup 🇨🇭🇯🇵

 

🔻CHFJPY has nicely respected a confluence zone based on a horizontal 4H resistance and a 0.5 retracement of the last bearish impulse.

 

The price formed a double top pattern on that and broke its neckline.

 

Probabilities will be high that the pair will drop lower soon.

Goals: 141.172 / 140.363

 

[DominicWalsh]

Market Breakdown | WTI Oil, EURUSD, GBPNZD, EURAUD

Here are the updates & outlook for multiple instruments in my watchlist.

1️⃣ WTI Oil daily time frame️
The market is trading in a long term bearish trend .
After the last sharp bearish movement, the market is steadily recovering.

Ahead, I see a major horizontal supply area.
Probabilities are high, that the next bearish wave will initiate from there.

2️⃣ EURUSD daily time frame
After a breakout of a solid daily resistance, the market is preparing for its retest.
Watch carefully the underlined zone and look for buying opportunities from there.

3️⃣ EURAUD weekly time frame
The pair is currently approaching a weekly horizontal resistance cluster.
Taking into consideration, that the pair is quite overbought, probabilities will be high to see a pullback from that

4️⃣ GBPNZD daily time frame
The pair is currently retesting a broken neckline of an ascending triangle . As we discussed earlier, the trend line of a triangle and its neckline compose a contracting buy zone now.
Chances will be high that the next bullish wave will initiate quite soon.
For Additional confirmation use: Divergence Indicators

[DominicWalsh]

Gold (#XAUUSD): 2 Scenarios For This Week Explained

⚠️Gold closed this week, approaching a solid daily resistance.
Depending on the reaction of the price to that structure, I see 2 potential scenarios for next week.

Bullish Scenario
If the price breaks and closes above 2010 resistance on a daily,
a bullish continuation will be expected to 2060 level.

Bearish Scenario
The price may respect the underlined resistance.
1917 - 1940 is the closest strong support.
If the price drops and closes below that area,
a bearish continuation will be expected to 1891.

Wait for a breakout and then follow the market.
For Additional confirmation use: ROC Indicator

[DominicWalsh]

#USDJPY: Key Levels to Watch This Week

Here is my latest structure analysis for USDJPY.

Resistance 1: 132.46 - 133.25 area
Resistance 2: 135.0 - 135.8 area
Resistance 3: 137.36 - 137.9 area

Support 1: 129.64 - 130.7 area
Support 2: 128.09 - 128.7 area
Support 3: 127.2 - 127.8 area

Consider these structures for pullback/breakout trading.

[DominicWalsh]

#GBPNZD: Nice Bullish Clues

Update for GBPNZD.
It looks like the price has nicely respected a broken triangle.
The price formed a bullish engulfing candle on a daily.

Bullish bias on a pair remains.
Goal remains unchanged - 1.997

[DominicWalsh]

#EURUSD: Peculiar Pattern

I spotted a cup & handle pattern on ⚠️EURUSD on 1H time frame.
1.0777 - 1.0783 is its neckline.

If the price breaks and closes above that, I will expect a bullish movement.
Goals will be 1.0843 / 1.0894

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

[DominicWalsh]

Natural Gas (#NATGASUSD): How to Buy With Confirmation

Hey traders,

I spotted a classic harmonic ABCD pattern on Natural Gas.
The completion point of the pattern matches perfectly with a horizontal key level.

Analyzing intraday time frames, I also spotted a falling wedge pattern on 12H.

To buy with a confirmation, wait for a bullish breakout of the resistance of the wedge.
Its violation may initiate a bullish movement.

The goals will be 2.43 / 2.58
Learn more about - chart patterns

[DominicWalsh]

#EURCAD: One More Bullish Move Ahead

EURCAD is taking off from a solid horizontal structure support.
The price formed a bullish engulfing candle on a 4H time frame,
engulfing the range of the last 4 candles.

Chances will be high to see a movement up.
Goals: 1.485 / 1.4914

[DominicWalsh]

Dollar Index (#DXY): Key Levels to Watch This Week

Here is my latest structure for Dollar Index.

Resistance 1: 103.11 - 103.63 area
Resistance 2: 104.74 - 105.1 area
Resistance 3: 105.667 - 105.88 area

Support 1: 100.82 - 100.88 area

Consider these structures for pullback/breakout trading.
For Additional confirmation use: Swing Trading Indicators

[DominicWalsh]

#USDCAD: Important Breakout

 

USDCAD broke and closed below a solid horizontal demand cluster on a daily.

The broken structure turned into resistance now.

 

Probabilities will be high to see a bearish move from that.

Goals will be 1.356 / 1.346

For Additional confirmation use: the best mt4 indicators

[DominicWalsh]

#EURJPY: Detailed Structure Analysis

Here are my latest structure analysis for ⚠️EURJPY.

Support 1: 138.80 - 139.25 area
Support 2: 137.38 - 138.18 area

Resistance 1: 143.19 - 143.6 area
Resistance 2: 145.00 - 145.58 area
Resistance 3: 146.40 - 146.7 area

Consider these structures for pullback/breakout trading.

[DominicWalsh]

Dollar Index (#DXY): Key Levels to Watch This Week

Here is my latest structure for Dollar Index.

Resistance 1: 103.11 - 103.63 area
Resistance 2: 104.74 - 105.1 area
Resistance 3: 105.667 - 105.88 area

Support 1: 100.82 - 100.88 area

Consider these structures for pullback/breakout trading.

[DominicWalsh]

#USDCAD: Important Breakout

USDCAD broke and closed below a solid horizontal demand cluster on a daily.
The broken structure turned into resistance now.

Probabilities will be high to see a bearish move from that.
The goals will be 1.356 / 1.346
For Additional confirmation use: the SAR Parabolic Indicator

[DominicWalsh]

#EURJPY: Detailed Structure Analysis

Here are my latest structure analysis for ⚠️EURJPY.

Support 1: 138.80 - 139.25 area
Support 2: 137.38 - 138.18 area

Resistance 1: 143.19 - 143.6 area
Resistance 2: 145.00 - 145.58 area
Resistance 3: 146.40 - 146.7 area

Consider these structures for pullback/breakout trading.

[DominicWalsh]

BITCOIN (#BTCUSD): Waiting For The Next Move ₿

⚠️Bitcoin is consolidating after a sharp bullish rally.
The price is coiling within a horizontal trading range on a daily.

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

Bullish
If the price breaks and closes above 28950 on a daily,
I will expect a bullish trend continuation.
Target will be 31000.

Bearish
If the price drops and closes below 26300 on a daily,
a bearish move will be expected.
Goal will be 24300.

Because the trend is bullish, I am on a bulls' side as well.
However, let's see what will happen.

[DominicWalsh]

#NZDCAD: Classic Bearish Pattern

NZDCAD formed a head & shoulders pattern on a daily time frame.
Its neckline was successfully broken yesterday.

I expect a further decline on the pair.
Targets: 0.84 / 0.837

[DominicWalsh]

Market Breakdown | GOLD, USDJPY, SILVER, US30

 

Here are the updates & outlook for multiple instruments in my watchlist.

 

Gold (#XAUUSD) 4h time frame 🟡

Gold is perfectly respecting a minor rising trend line .

So far, I would expect a bullish continuation from that.

Goal for buyers might be the underlined yellow resistance.

 

If you are looking for shorting, consider a bearish breakout of the trend line .

I can give you a perfect confirmation to sell.

 

#USDJPY daily time frame 

The market is approaching a solid horizontal resistance.

Taking into consideration that the pair is quite overbought and trading in a bearish trend ,

I believe that probabilities will be high to see a bearish move from that.

 

Silver (#XAGUSD) 4h time frame 

I spotted a cute bullish accumulation pattern - an ascending triangle formation.

The price has successfully violated its neckline.

It looks like the market will keep growing.

 

Dow Jones (#US30) daily time frame

The market is approaching a solid daily resistance.

We see its breakout attempt now.

If a daily candle closes above that, the Index may go much higher.

For Additional confirmation use: the Best Scalping Indicators

[DominicWalsh]

#USDCAD: Time For Pullback

USDCAD reached a key level.
Testing that, the price broke and closed above the resistance line of a falling wedge pattern.

I expect a pullback now.
Goals: 1.355 / 1.3577

 

[DominicWalsh]

#AUDNZD: Waiting For Breakout

⚠️AUDNZD is trading in a bearish trend.
The price is currently accumulating within a descending triangle formation.

1.067 - 1.069 is its neckline.
If the price breaks and closes below that on a daily, probabilities will be high that the market will drop lower.
Next support will be 1.0627

[DominicWalsh]

#GBPUSD: Your Detailed Trading Plan For This Week

⚠️GBPUSD is approaching a key daily structure resistance.
The price is currently stuck with a rising wedge pattern.

To catch a bearish move from that, watch a reaction of the price to the support of the wedge.
If the price breaks and closes below that on a daily, a bearish move will be expected
at least to 1.225.

Alternatively, a bullish breakout of the underlined resistance will push the price much higher.

[DominicWalsh]

S&P500 Index (#SPY): Bullish Outlook Explained

S&P500 Index is trading in a rising channel on a daily.
The price was approaching a solid resistance cluster on Thursday and Friday.
The market managed to break that and successfully closed above.

I believe that the Index may go higher this week.
Next goal for buyers will be 4155
For Additional confirmation use: the Half Trend Indicator

[DominicWalsh]

Crude Oil (#WTI): Have You Seen That GAP?

With a sudden OPEC decision to cut oil production rate,
WTI Oil opened with a huge gap up.

The price is currently testing a solid horizontal supply cluster.
What we know about gaps is the fact that in 80% of the time they tend to be filled.
I believe that sellers will push the price from the underlined resistance and initiate a bearish move.

Goals will be 78.57 - middle of the gap, 75.75 - gap open.

[DominicWalsh]

#NZDUSD: Bullish Setup Explained

NZDUSD reached a solid horizontal support.
The price was steadily falling within a bullish flag pattern.
Once the underlined structure was reached, the market bounced
and broke the resistance of the flag.

I believe the pair will go higher now.
Goals: 0.6267 / 0.62895

[DominicWalsh]

EURAUD: Bearish Outlook

EURAUD is trading on a key weekly structure resistance.
Once the underlined area was reached, the pair started to trade within a horizontal range for 9 consequent trading days.
Its support was finally broken yesterday.

I think that the pair may drop now.
Targets: 1.593 / 1.5717
For Additional confirmation use: the Ichimoku Cloud Indicator

[DominicWalsh]

Dollar Index (#DXY): Waiting For Breakout

Dollar Index is trading in a minor bearish trend on a daily.
The market is steadily falling within a falling parallel channel.

The Index is currently approaching a solid horizontal support.
I believe that the fall will resume after its breakout.
To confirm that, we will need a daily candle close below 101.9.

A bearish continuation will be expected to 101.0 support then.
For Additional confirmation use: the Momentum Indicator