MarketBreakdown | GBPUSD, USDCHF, EURAUD, US100

9 Agu

https://www.tradingview.com/x/UrFe79E6/

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

1️⃣ #GBPUSD daily time frame 🇬🇧🇺🇸

The market keeps correcting on a daily time frame after the pair updated the high.
The price is steadily falling within a bullish flag pattern.

I think that a bullish breakout of the resistance of the flag
and a daily candle close above that can be a strong bullish trend-following signal.

2️⃣ #USDCHF daily time frame 🇺🇸🇨🇭

The market keeps recovering after a massive selloff.
The closest resistance that I see on a daily is the confluence zone
based on a recently broken horizontal support and a falling trend line.

I will look for shorting opportunities from there

3️⃣ #EURAUD daily time frame 🇪🇺🇦🇺

The price successfully violated a major rising trend line and closed
below that on a daily.

I think that the market has a nice potential to keep going lower.

4️⃣ NASDAQ INDEX #US100 daily time frame

The index is trading in a minor bearish trend on a daily.
We see a local correctional movement at the moment.

I see a strong supply area ahead.
It is based on a key horizontal resistance and a falling trend line.
I think that we can expect a retracement from that area.

Alternatively, its bullish breakout will be a strong bullish signal.

Do you agree with my market breakdown?

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