MarketBreakdown | Dollar Index, USDCAD, US30 Index, GBPJPY

28 Jul 2023

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

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

1️⃣ Dollar Index (DXY) daily time frame 💲
After a test of a key daily structure resistance, we see a positive bearish reaction from that.
It looks like the Index will keep retracing to lower levels.

2️⃣USDCAD daily time frame 🇺🇸🇨🇦
The market is currently approaching the neckline of an ascending triangle formation.
Following the local weakness of a greenback, the pair may drop one more time from
the underline horizontal line to a rising trend lien.

3️⃣ US30 Index weekly time frame
The index reached a key weekly structure resistance.
Strong rejection on a daily time frame signifies a local overbought state of the market.
I will expect a pullback from the underlined level.

4️⃣ GBPJPY daily time frame 🇬🇧 🇯🇵
The pair successfully violated a key daily horizontal structure support.
The broken structure turned into a resistance now.
The market will most likely keep falling to lower levels soon.

Do you agree with my market breakdown?

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