MarketBreakdown | USDCAD, NZDUSD, CRUDE OIL, DXY

31 Jul

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

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

1️⃣ #USDCAD daily time frame 🇺🇸🇨🇦

The pair is currently testing a significant daily structure resistance.
The intraday price action looks bearish at the moment.
I think that the pair may start a correctional movement
from the underlined blue area.

2️⃣ #NZDUSD daily time frame 🇳🇿🇺🇸

The market is approaching a significant weekly resistance cluster
that is based on 2 important historic highs.

I think that we may see a correctional movement/pullback soon.

3️⃣ #WTI CRUDE OIL daily time frame 🛢️

Crude Oil updated a low on a daily, violating a key horizontal support.
It confirms the strength of the sellers.

The market may keep trading in a bearish trend within the boundaries of the underlined channel.

4️⃣ DOLLAR INDEX #DXY daily time frame 💵

We see a nice correctional movement after a strong bearish impulse.
The market is currently trading within a bearish flag pattern.
Bearish breakout of the support of the flag will be a strong bearish trend-following signal.

Do you agree with my market breakdown?

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