Start your week by identifying the key price levels and trends.
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
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WALL STREET (1 Day)
Wall Street breaking under 32580 opened the door to 31400, where a head-and-shoulders pattern could start forming. If the support gives way to bears, it would invalidate the right shoulder. Reclaiming the now-resistance could trigger 33300 revisited.
JAPAN 225 (1 day)
Breaking below the flag low and retesting the trendline could weigh on Japan 225, with a leg below 30260 exposing 30K and then 29380. Taking over 31220 may change the short-term course of action, but it is unlikely to gain as high as 31470.
GOLD (4 hours)
Gold’s continuation is facing double-top resistance at $2020, with pullbacks to $1980 now more likely. Under there, the next support can be observed at $1955. If bulls push higher, it could clear the path towards $2050 next, pending direction at $2030 an ounce.
GBP/USD (1 day)
The pound resembles an early triangle pattern with its higher swing low at 1.2071 holding support, but falling under $1.2035 will open the door to $1.20 and $1.1921. If the short-term resistances at $1.2287 and 38 fall, we may experience a bullish move towards $1.2416.
EUR/USD (2 hours)
The EUR/USD pair has barely traded within the ascending channel/flag pattern but remains pounding breakdowns towards $1.045. $1.0522 and $1.0493 must succumb for the scenario to play out. Short-term PA could see the pair advance above $1.05, gaining traction to 1.0615 and $1.064.
GBP/JPY (2 hour)
The GBP/JPY pair appears near a triangle completion anywhere between ¥180.24 and ¥178. Taking over ¥181.61 could instigate a rally toward ¥182.60 unless the trend reverses.
The SpreadEx Research team has analysed the most popular markets, including stocks, indices, commodities & forex.
-----------------------------------------------------
WALL STREET (1 Day)
Wall Street breaking under 32580 opened the door to 31400, where a head-and-shoulders pattern could start forming. If the support gives way to bears, it would invalidate the right shoulder. Reclaiming the now-resistance could trigger 33300 revisited.
JAPAN 225 (1 day)
Breaking below the flag low and retesting the trendline could weigh on Japan 225, with a leg below 30260 exposing 30K and then 29380. Taking over 31220 may change the short-term course of action, but it is unlikely to gain as high as 31470.
GOLD (4 hours)
Gold’s continuation is facing double-top resistance at $2020, with pullbacks to $1980 now more likely. Under there, the next support can be observed at $1955. If bulls push higher, it could clear the path towards $2050 next, pending direction at $2030 an ounce.
GBP/USD (1 day)
The pound resembles an early triangle pattern with its higher swing low at 1.2071 holding support, but falling under $1.2035 will open the door to $1.20 and $1.1921. If the short-term resistances at $1.2287 and 38 fall, we may experience a bullish move towards $1.2416.
EUR/USD (2 hours)
The EUR/USD pair has barely traded within the ascending channel/flag pattern but remains pounding breakdowns towards $1.045. $1.0522 and $1.0493 must succumb for the scenario to play out. Short-term PA could see the pair advance above $1.05, gaining traction to 1.0615 and $1.064.
GBP/JPY (2 hour)
The GBP/JPY pair appears near a triangle completion anywhere between ¥180.24 and ¥178. Taking over ¥181.61 could instigate a rally toward ¥182.60 unless the trend reverses.
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You can now spread bet on TradingView with Spreadex!
Register in just minutes on the website below, link your new Spreadex account to TradingView and begin trading 1000s of global markets.