Here are the updates & outlook for multiple instruments in my watchlist.
1️⃣ Dollar Index (DXY) daily time frame 💵 The market is consolidating within a narrow horizontal trading range. Taking into consideration, that the index is very bullish from the beginning of February, I believe that a bullish rally will continue.
Wait for a bullish breakout of the resistance of the range, daily candle close above that will most likely trigger a bullish continuation.
2️⃣ GBPUSD daily time frame 🇬🇧🇺🇸 The pair was rejected heavily from a key daily structure resistance. A rejection candle with a long wick was formed. It indicates a strong bearish pressure.
I believe that the pair will most likely keep falling.
3️⃣ USDCAD daily time frame 🇺🇸🇨🇦 The market is trading within a wide horizontal trading range. Its support was reached yesterday and the market was rejected from that. Probabilities are high that a resistance of the range will be reached soon.
4️⃣ EURNZD daily time frame 🇪🇺🇳🇿 The price is forming a huge ascending triangle formation. A bullish breakout of its resistance will initiate a strong bullish wave. Wait for a daily candle close above the neckline as a confirmation.
Do you agree with my market breakdown?
❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️