My personal FX pairs and XAUUSD analysis

[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