Hey traders, here is a brief technical outlook of 4 peculiar instruments in my watch list.
1️⃣ EURUSD - 3 days time frame 🇪🇺🇺🇸
Even though last week was very bullish for EURUSD, we should remember that the pair is still trading in a long-term bearish trend.
After setting a lower low last week the pair perfectly retraced to a major horizontal zone of supply based on the historical structure. For now, the underlined zone looks respected. I expect a further decline from that.
2️⃣ USDCAD - 12H time frame 🇺🇸🇨🇦
For the last two weeks, the pair is consolidating. The price is trading within a narrow trading range.
1.265 is its support. 1.28 is its resistance.
Wait for a breakout of the range to catch the next move or consider intraday trading within the boundaries of the range selling the resistance and buying the support.
3️⃣ GBPCHF - Weekly time frame 🇬🇧🇨🇭
GBPCHF is trading in a bearish trend. Lower highs are perfectly respecting a major falling trend line. Last week the price reached that again. With a high probability, the next bearish move will initiate from there.
Look for confirmation on lower time frames to short.
4️⃣Silver (XAGUSD) - Daily time frame 🪙
It looks like the market is forming a bearish accumulation pattern. The price keeps setting lower highs respecting the same lows. Be ready for an occasional breakout attempt of the horizontal support.
Alternatively, a bullish breakout of a falling trend line will be a bullish signal.
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